DNVN - On January 16, 2025, the USD/VND exchange rate was adjusted down by 8 VND by the State Bank, recorded at 24,338 VND.
USD exchange rate on international market
The Dollar Index (DXY), a tool that measures the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), is currently at 109.13 points, down 0.062 points from the trading day of January 15, 2025.
While the dollar has recovered somewhat against other major currencies, strength has weakened as weaker-than-expected data has eased inflation concerns and increased the likelihood that the Fed could cut interest rates two more times this year.
The U.S. Bureau of Labor Statistics reported that the consumer price index rose 2.9 percent in the 12 months through December, in line with economists' forecasts. Core inflation, which excludes food and energy, also met expectations but was lower than the previous month.
On Tuesday, data related to the producer price index contributed to an immediate decline in the dollar.
The dollar index fell 0.1 percent to 109.07, after hitting a 26-month high of 110.17 on Monday.
"The lower inflation data is a signal for investors to reduce their USD holdings," said Joseph Trevisani, senior analyst at FX Street.
He also stressed that the Fed will likely be cautious in its decision to cut interest rates, waiting until it is certain that inflation has returned to lower levels.
Expectations are that President-elect Donald Trump's policies, when he takes office next week, will boost economic growth and add to price pressures.
John Velis, an expert at BNY Markets, said the market will continue to monitor upcoming inflation reports to determine whether the deflationary trend continues.
He noted that new policies from the administration could upset the forecast in the first half of the year. "We expect the Fed to leave policy unchanged on January 29 and not cut rates before the end of the year, depending on how deflation develops," Velis said.
Against the Japanese Yen, the USD fell 0.93% and is currently at 156.49 Yen.
The yen rose sharply after Bank of Japan Governor Kazuo Ueda said the central bank would raise interest rates and adjust monetary policy if economic and price conditions continued to improve.
Falling inflation in the UK has helped the pound gain. Inflation unexpectedly fell last month, while core indicators tracked by the Bank of England also fell significantly, according to data.
The British pound is currently up 0.1% at $1.2229, while the euro is down 0.15% and trading at $1.0299.
"The strength of the US dollar is not over with this CPI figure alone," said Peter Vassallo, portfolio manager at BNP Paribas.
He predicts the dollar will remain strong against European currencies but will lose ground against the yen.
The Israeli shekel rose 0.8% against the dollar, hitting a one-month high of 3.61 shekels, helped by a ceasefire in Gaza signed on Wednesday.
In China, the onshore yuan was unchanged at 7.3319 yuan per dollar. Despite the official adjustments, the weak trend continues, with signs of tightening in the onshore currency market.
Domestic USD exchange rate
In the domestic market, the central USD/VND exchange rate decreased by 8 VND, currently at 24,338 VND according to the announcement of the State Bank.
The buying and selling rates at the State Bank of Vietnam remain at 23,400 VND - 25,450 VND.
Specifically, at Vietcombank, USD is listed at 25,164 - 25,554 VND/USD, down 9 VND in both buying and selling compared to the previous day.
TPB Bank listed the lowest cash USD purchase price, only 24,390 VND/USD, and the lowest transfer purchase price is 24,430 VND/USD.
HSBC Bank recorded the highest USD cash buying price at 25,274 VND/USD, while VietinBank led the transfer buying price at 25,554 VND/USD.
TPB also offers the lowest USD cash selling price, at 24,870 VND/USD. HSBC is the place that sells the lowest USD transfer price, at 25,502 VND/USD.
GPBank, Saigonbank, and VietCapitalBank apply the highest USD cash selling price at 25,563 VND/USD, while ABBank, ACB, Dong A, and many other banks maintain the highest transfer selling price at 25,554 VND/USD.
The EUR exchange rate at the State Bank of Vietnam increased slightly, reaching 23,819 VND - 26,327 VND.
Meanwhile, the Japanese Yen exchange rate remained unchanged, staying at 146 VND - 162 VND.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-16-1-2025-usd-suy-yeu-tiep-tuc/20250116081546752
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