DNVN - On November 12, 2024, the USD increased slightly compared to the peak reached right after the US presidential election.
USD exchange rate on the world market
The Dollar Index (DXY), which measures the value of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 105.49, up 0.49 points compared to the trading day of November 11, 2024.
The US dollar - a measure of the greenback's strength against a basket of major currencies - has edged up from its post-US election highs as markets await clarity on policies from the incoming administration.
“It seems like the market is pricing in more and more of a red wave,” said Bipan Rai, managing director at BMO Global Asset Management, referring to Trump’s Republican Party. “I think the dollar is the beneficiary of that.”
The US president-elect's expected policies - including tax cuts and tariff hikes - will push up inflation and bond yields, limiting the Fed's ability to ease policy and supporting the US dollar.
The dollar rose 0.69 percent against the yen to 153.69, after retreating from a peak of 154.70 last week on the risk of intervention from Japan. The index hit 154.68 on November 6, its highest since July.
"The release of October inflation data from the Labor Department on Wednesday will likely be the main focus of the week for investors," said Scott Kanowsky, financial expert at Investing.com. Economists expect the consumer price index to have risen at an annualized rate of 2.4% last month, matching September's pace. September's annual increase was the smallest in more than three and a half years, bolstering bets for a Federal Reserve rate cut.
After the Fed cut rates by 25 basis points last Thursday, Chairman Jerome Powell has offered little guidance on how far and how fast rates will fall."
Domestic USD exchange rate
On November 12, 2024, the domestic USD exchange rate also increased slightly compared to the peak after the US presidential election, in the context that investors are still waiting for information about the upcoming US policy.
Today's trading session opened with an announcement from the State Bank, stating that the central VND/USD exchange rate increased by 15 VND compared to the previous day, currently reaching 24,263 VND.
The permitted exchange rate trading range of commercial banks ranges from 23,400 to 25,450 VND/USD. The USD exchange rate is also maintained by the State Bank of Vietnam in the range of 23,400 to 25,450 VND/USD.
At Vietcombank, the announced USD buying and selling rates are 25,086 - 25,476 VND/USD, up 1 VND for buying and 21 VND for selling compared to the previous session.
At BIDV, the USD/VND exchange rate ended today up 17 VND in buying and unchanged in selling compared to the previous session, reaching 25,133 - 25,476 VND/USD. At Techcombank, the current announced rate is 25,066 - 25,476 VND/USD, up 40 VND in buying and unchanged in selling.
At Eximbank, the exchange rate at 6pm today increased by 42 VND for buying and 10 VND for selling, listed at 23,678 - 25,475 VND/USD. Meanwhile, ACB recorded an increase of 20 VND for buying and 25 VND for selling, currently at 24,100 VND/USD - 25,475 VND/USD (buying - selling).
The USD/VND exchange rate on the free market is currently trading around 25,570 - 25,670 VND/USD, up 50 VND in both directions compared to the previous session.
The EUR exchange rate at the State Bank of Vietnam has increased slightly, currently at 24,887 VND - 27,507 VND (buy - sell).
The Japanese yen exchange rate at the State Bank of Vietnam also recorded a slight increase, currently at 151 VND - 166 VND (buy - sell).
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-12-11-2024-usd-tiep-tuc-tang/20241112084331762
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