DNVN - The central exchange rate of Vietnamese Dong to USD on January 20, 2025 was announced by the State Bank at 24,341 VND.
USD exchange rate on the world market
The Dollar Index (DXY), which measures the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), currently stands at 109.35, unchanged from the trading session on January 19, 2025.
At the beginning of the week, the USD Index recorded 109.5, and then slightly adjusted to 109.48 in the session on January 14. During the trading session, the DXY almost touched the 110 mark. Experts said that the greenback still managed to maintain this high price thanks to the strong Non-Farm Payroll (NFP) data released last week along with the US Federal Reserve's (Fed) cautious approach to monetary policy in the minutes of its recent meeting.
On January 15, the USD fell 0.72% from the previous session to 109.02, after the world's largest economy's December Producer Price Index (PPI) was lower than expected: December core PPI was 0.0% compared to the forecast of 0.3%, and composite PPI recorded 0.2% compared to the forecast of 0.3%.
The index continued to decline to 108.93 on January 16, down 0.16% from the previous session. While the slight upward momentum remains, the RSI has turned down, said OCBC forex analyst Christopher Wong. The overall trend remains bullish, but a short-term correction cannot be ruled out.
On the morning of January 17, the USD fell slightly by 0.14% to 108.77. Analysts said that the volatility of the greenback after the newly released inflation data has reduced concerns about rapid inflation, while increasing the possibility that the Fed may cut interest rates this year.
The dollar recovered slightly by nearly 0.3% to 109.12 on January 18. Experts said that Federal Reserve Governor Christopher Waller hinted that a rate cut in March could still be an option. Traders' sentiment remains cautious as the inauguration of President-elect Donald Trump approaches.
“The yen will remain tied to U.S. interest rates. I think the greenback’s weakness this week has helped to take some of the pressure off USD/JPY,” said Brad Bechtel, global head of FX at Jefferies. “The BOJ appears poised to raise rates next week, which should be positive for the yen. But with the interest rate differential still so wide, it’s unlikely that USD/JPY will fall much further.”
Comments from BOJ officials and data from Japan showing persistent price pressures and strong wage growth are feeding market confidence that a rate change is coming soon, with traders now pricing in an 80% chance of a BOJ rate hike next week.
The dollar has rallied in recent weeks as Treasury yields have risen, reflecting expectations that President-elect Trump's policies could boost inflation amid a stabilizing US economy.
At this point, the market is focused on Donald Trump's new term and the impact of his policies on the economy. Investors are waiting for his inauguration speech on January 20 to get a clearer view of his policy moves.
Domestic USD exchange rate
In the domestic market, on the morning of January 20, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,341 VND.
The reference exchange rate at the State Bank of Vietnam remains unchanged, at 23,400 VND - 25,450 VND.
At Vietcombank, the USD exchange rate is currently fluctuating between 25,120 - 25,510 VND/USD, unchanged from yesterday.
TPB Bank quotes the lowest cash USD purchase price at 24,390 VND/USD.
TPB bank's transfer buying rate is 24,430 VND/USD.
Hong Leong Bank offers the highest USD cash buying rate at VND25,265/USD.
At VietinBank, the highest USD transfer buying rate is 25,549 VND/USD.
TPB Bank sells USD cash at the lowest price of 24,870 VND/USD.
OCB Bank sells USD transfers at the lowest price of 25,462 VND/USD.
Banks ABBank, Eximbank, LPBank, MSB, OceanBank, Saigonbank, UOB, VietCapitalBank, VRB simultaneously sold USD cash at the highest price of 25,558 VND/USD.
ABBank and MSB banks sell USD transfers at the highest price of 25,558 VND/USD.
The EUR exchange rate at the State Bank of Vietnam increased slightly, recording 23,828 VND - 26,336 VND.
The Japanese Yen exchange rate at the State Bank of Vietnam also increased slightly, reaching 149 VND - 165 VND.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-20-1-2025-dung-yen-cho-doi-le-nham-chuc-tong-thong-my/20250120081119217
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