Japanese Yen Stable, "Sharks" Want to Increase USD Reserves

Foreign exchange rates, USD/VND exchange rate today, June 7, recorded a slight decrease in the USD before the US employment data was released, and the Japanese Yen was stable.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: June 23, 2024 10:55 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,505.59	16,672.31	17,205.77
CANADIAN DOLLAR	CAD	18,123.37	18,306.44	18,892.18
SWISS FRANC	CHF	27,825.49	28,106.56	29,005.88
YUAN RENMINBI	CNY	3,433.20	3,467.88	3,579.38
DANISH KRONE	DKK	-	3,585.83	3,722.84
EURO	EUR	26,546.33	26,814.47	27,999.61
Sterling Pound	GBP	31,379.47	31,696.44	32,710.62
HONGKONG DOLLAR	HKD	3,178.20	3,210.31	3,313.02
INDIAN RUPEE	INR	-	303.61	315.72
YEN	JPY	155.28	156.85	164.33
KOREAN WON	KRW	15.84	17.60	19.19
KUWAITIAN DINAR	KWD	-	82,749.40	86,050.57
MALAYSIAN RINGGIT	MYR	-	5,340.02	5,456.05
NORWEGIAN KRONER	NOK	-	2,364.93	2,465.14
RUSSIAN RUBLE	RUB	-	277.20	306.84
SAUDI RIAL	SAR	-	6,765.27	7,035.16
SWEDISH KRONA	SEK	-	2,374.60	2,475.21
SINGAPORE DOLLAR	SGD	18,321.50	18,506.56	19,098.71
THAILAND	THB	612.10	680.11	706.09
US DOLLAR	USD	25,218.00	25,248.00	25,468.00

Exchange rate developments in the domestic market

In the domestic market, at 7:30 a.m. on June 7, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,241 VND, unchanged.

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: 24,183 VND - 25,453 VND.

Vietinbank : 25,143 VND - 25,441 VND.

Foreign exchange rates, USD/VND exchange rate today, June 7: Japanese Yen stable, 'sharks' want to increase USD reserves. (Source: Reuters)

Exchange rate developments in the world market

The Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) was at 104.19, 0.18%.

The US dollar turned slightly lower before the US employment data released today (June 7). This could help the US Federal Reserve (Fed) plan to cut interest rates.

Meanwhile, the Euro remained stable following a rate cut by the European Central Bank (ECB).

The euro rose 0.17 percent to $1.0887, approaching a more than two-month high of $1.0916.

Inflation in the 20-country euro zone has fallen from more than 10% at the end of 2022 to just over 2% in recent months, largely thanks to lower fuel costs and steady supplies after the Covid-19 pandemic.

However, recent signs suggest that inflation in the euro zone stalled a few weeks ago.

The yen was steady at 155.65 yen per dollar, following comments from Bank of Japan (BOJ) Governor Kazuo Ueda on June 6 about reducing bond purchases.

The number of central banks wanting to hold US dollar reserves has risen sharply this year, according to an annual survey by the Official Monetary and Financial Institutions Forum (OMFIF, a British think tank).

A survey of 73 agencies/organizations managing $5,400 billion in foreign exchange reserves showed that 18% of central banks worldwide plan to increase their allocation to the USD in the next 1-2 years, as interest rates in the US remain high.

This figure is up sharply from 6% a year ago.

Meanwhile, central bank demand for the yuan has stagnated, reversing the trend in recent years when central banks held more of China's currency in reserve.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-76-yen-nhat-on-dinh-ca-map-muon-tang-du-tru-usd-274057.html