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| Foreign exchange rates today, November 21: USD, EUR, CAD, British Pound... (Source: Trixee) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 21 was announced by the State Bank at 23,915 VND/USD, down 39 VND/USD compared to yesterday.
Domestic market:
Vietcombank:
USD exchange rate for buying is 23,980 VND/USD, selling is 24,350 VND/USD.
EUR exchange rate for buying is 25,793 VND/EUR and selling is 27,209 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,100 VND/USD, selling is 24,400 VND/USD.
EUR exchange rate for buying is 25,961 VND/EUR, selling is 27,161 VND/EUR.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply for import and export from November 16-22 |
| 1 | EUR | Euro | 25,793.08 | 27,209.50 | 26,119.80 |
| 2 | JPY | Japanese Yen | 158.58 | 167.87 | 159.48 |
| 3 | GBP | British Pound | 29,480.16 | 30,735.68 | 29,995.98 |
| 4 | AUD | Australian Dollar | 15,476.32 | 16,135.43 | 15,605.60 |
| 5 | CAD | Canadian Dollar | 17,180.61 | 17,912.31 | 17,550.42 |
| 6 | RUB | Russian Ruble | 259.86 | 287.69 | 266.19 |
| 7 | KRW | Korean Won | 16.26 | 19.71 | 18.48 |
| 8 | INR | Indian Rupee | 289.40 | 301.00 | 289.15 |
| 9 | HKD | Hong Kong Dollar (China) | 3,024.17 | 3,152.96 | 3,077.71 |
| 10 | CNY | Chinese Yuan China | 3,303.79 | 3,445.02 | 3,318.5 |
(Source: State Bank and commercial banks)
Exchange rate developments in the world market
In the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.53% to 103.82.
The greenback exchange rate in the world today decreased. The Japanese Yen and the Euro both increased.
The US dollar fell to its lowest level in more than two months on Tuesday, continuing its decline from last week, as investors believed the US Federal Reserve had completed its interest rate hike cycle and were looking ahead to a time when the US central bank could start cutting interest rates.
The DXY index hit its lowest since September 1 at 103.37, after falling nearly 2% last week, marking its biggest weekly percentage drop since mid-July.
Markets have priced in no additional Fed rate hikes, as recent data shows the US economy is slowing, along with inflationary pressures, but not enough to lead to a recession in the near future.
On November 20, the Conference Board's leading economic index for October was released, showing a 0.8% decline, the 19th consecutive monthly decline.
Markets are now trying to determine when the Fed might start cutting rates and are currently pricing in more than a 50% chance of at least a 25 basis point cut next May, according to CME's FedWatch Tool.
“The whole market thinks the Fed is done raising rates, so the dollar is weakening,” said Joseph Trevisani, senior analyst at FXStreet.com .
However, recent comments from some Fed officials have not ruled out the possibility that further rate hikes may be needed if economic data changes warrant it. Richmond Fed President Thomas Barkin said on November 20 that inflation could remain high and force the central bank to keep interest rates higher for longer than investors expect.
In addition, the minutes of the Fed's latest meeting are expected to be released today, November 21, and investors will analyze the central bank's policy path more clearly.
Elsewhere, the euro hit its highest since August 15 at $1.0952, while the Japanese yen hit a six-week high of $148.00.
The euro has strengthened on expectations that the European Central Bank (ECB) will keep its rate-hike cycle intact after the Fed ends its...
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