On the morning of February 25, the USD price recorded a week of increase. Eximbank bought at 24,420 VND and sold at 24,820 VND, an increase of 120 VND compared to the end of last week. Similarly, Vietcombank bought at 24,420 VND and sold at 24,790 VND, an increase of 110 VND... The free USD price was also bought at 25,220 VND and sold at 25,290 VND/USD, an increase of 70 VND after a week.
Meanwhile, the euro price at Vietcombank was bought at 25,943 VND and sold at 27,367 VND. Compared to the end of last week, the euro price increased by 190 VND in the buying direction and increased by 210 VND in the selling direction.
USD price increased throughout the week
In the world market, the USD price recorded a week of decline when the USD index fell below the threshold of 104 points. Specifically, the USD-Index is currently at 103.9 points, 0.03 points lower than the previous week.
Investors are upbeat as stocks hit record highs after a series of largely better-than-expected business surveys, some analysts say. For example, purchasing managers' index (PMI) data showed that the recession in the eurozone eased after a six-month slump, while UK PMI data showed the economy holding steady in early 2024. The news has sent currencies like the euro and pound higher, while the greenback has fallen.
The dollar has come a long way and the market is reluctant to buy more at this point, but that could change when the first US rate cut in June comes around, said Jane Foley, foreign exchange strategist at Rabobank.
Federal Reserve officials have projected three 25 basis point rate cuts this year, while the market expects about seven rate cuts from the agency...
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