USD soars, surpasses 108, Korean Won "sluggish"

Foreign exchange rate, USD/VND exchange rate today, December 20, recorded USD increasing above 108, reaching the highest level in two years.

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: 12/20/2024 08:00 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	25,270	25,279	25,519
EUR	EUR	25,870	25,974	27,071
GBP	GBP	31,406	31,532	32,494
HKD	HKD	3,208	3,221	3,326
CHF	CHF	27,731	27,842	28,681
JPY	JPY	160.54	161.18	168.16
AUD	AUD	15,530	15,592	16,079
SGD	SGD	18,356	18,430	18,940
THB	THB	717	720	751
CAD	CAD	17,296	17,365	17,855
NZD	NZD		14,066	14,552
KRW	KRW		16.86	18.47

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:00 a.m. on December 20, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,278.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank : 25,161 - 25,491 VND.

Vietinbank : 25,180 - 25,485 VND.

Foreign exchange rates, USD/VND exchange rate today December 20: USD skyrockets, surpassing 108, Korean Won 'sluggish'. (Source: CNBC)

Exchange rate developments in the world market

The US Dollar Index (DXY) measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 1.28%, currently at 108.24.

The dollar rose against other currencies to a two-year high after the US Federal Reserve cut interest rates as expected and signaled it would slow its monetary policy easing cycle.

The Fed cut its benchmark policy rate by 25 basis points to a range of 4.25% to 4.5%. At the same time, Fed officials also signaled that they may pause future rate cuts next year due to the current stabilization of the labor market and inflation.

The yield on the benchmark 10-year US Treasury note rose 6.1 basis points to 4.446%, hitting a four-week high.

The dollar also rose 0.89% to 0.90020 against the Swiss franc, after hitting 0.90150 - its highest since July. The euro fell 1.17% to $1.03695, falling to a three-week low.

The DXY index hit its highest level since November 2022 at 108.26.

“The Fed needs to be cautious in its rate cuts and in all monetary policy decisions and look for clues and data that indicate progress on inflation,” Fed Chairman Jerome Powell said in his press conference.

When interest rates are low, borrowing costs are cheaper, allowing businesses to invest in new projects or hire more employees. Similarly, consumers spend more because savings are less attractive.

The greenback rose to a 15-year high against the South Korean won, reaching 1,454.41 - its highest since March 2009. The dollar last rose 1.03% to 1,452.19 per dollar.

The dollar also rose 0.78 percent to 154.63 against the yen, hitting a three-week high. The Bank of Japan is expected to keep interest rates unchanged at its policy meeting today, December 19.

The Bank of England is also expected to keep interest rates unchanged at its policy meeting today, December 19. The pound fell slightly against the euro and the dollar after the Fed's decision. The currency fell 0.98% to $1.25860, falling to a three-week low.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-2012-usd-tang-phi-ma-vuot-moc-108-won-han-quoc-i-ach-297985.html