USD, EUR, CAD, Pound exchange rates, exchange rates... Year-end profit taking, the greenback is on a strong uptrend

Foreign exchange rates today, December 1: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... Profit-taking at the end of the year, the greenback is gaining momentum. Eur and Japanese Yen decrease. *Effective Customs import-export exchange rates

Tỷ giá ngoại tệ hôm nay 1/12: Tỷ giá USD, EUR, CAD, Bảng Anh, tỷ giá hối đoái...Chốt lời cuối năm, đồng bạc xanh được đà tăng mạnh

Foreign exchange rates today, December 1: USD, EUR, CAD, Pound, exchange rates...Taking profits at the end of the year, the greenback is on a strong rise. (Source: the wall street Journal)

The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of December 1 was announced by the State Bank at 23,891 VND/USD, unchanged from yesterday.

Domestic market:

Vietcombank :

USD exchange rate for buying is 24,060 VND/USD, selling is 24,430 VND/USD.

EUR exchange rate for buying is 25,937 VND/EUR and selling is 27,361 VND/EUR.

BIDV Bank:

USD exchange rate for buying is 24,130 VND/USD, selling is 24,430 VND/USD.

EUR exchange rate for buying is 25,998 VND/EUR, selling is 27,199 VND/EUR.

STT	Currency code	Currency name	Bank rate commerce Buy	Bank rate commerce Sell	*Customs rates Apply import and export in effect
1	EUR	Euro	25,775.65	27,190.95	25,979.95
2	JPY	Japanese Yen	159.60	168.95	159.41
3	GBP	British Pound	29,895.03	31,168.03	29,796.25
4	AUD	Australian Dollar	15,650.48	16,316.92	15,620.39
5	CAD	Canadian Dollar	17,467.48	17,467.48	17,423.53
6	RUB	Russian Ruble	256.70	284.19	260.73
7	KRW	Korean Won	16.15	19.58	17.94
8	INR	Indian Rupee	290.48	302.11	289.95
9	HKD	Hong Kong Dollar (China)	3,028.32	3,157.28	3,058.63
10	CNY	Chinese Yuan China	3,330.97	3,473.33	3,353.12

(Source: State Bank, Commercial Bank, Customs Department)

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) increased by 0.75% to 103.51.

The exchange rate of the greenback today in the world, the Euro and the Japanese Yen decreased.

Specifically, the greenback increased in the last trading session, following profit-taking by investors at the end of the year, despite signs that the US economy is slowing down.

Economic data on November 30 showed that the US Federal Reserve (Fed) may have completed raising interest rates and may start easing in the middle of next year, which is usually a negative factor for the USD.

Weakness in the euro following dismal inflation reports in the euro zone also helped boost the greenback, analysts said.

“We had expected dollar selling at the end of the month as U.S. stocks rallied, but some of the selling may have occurred earlier in the month, so there may be less dollar selling at the end of the month,” said Vassili Serebrikov, a foreign exchange strategist at UBS in New York.

The dollar rose despite reports that US inflation remained moderate in October, and that a rise in jobless claims last week suggested the labour market was slowing.

Accordingly, US inflation as measured by the Personal Consumption Expenditures (PCE) Index was unchanged in October, after increasing 0.4% in September. In addition, the PCE Index reached an annual increase of 3.0% in October. Meanwhile, the number of initial state unemployment claims increased by 7,000 to 218,000 last week.

Fed funds futures are currently pricing in about a 47% chance of a rate cut at the March 19-20, 2024 meeting.

Elsewhere, the euro fell after new data showed euro zone inflation fell more than expected this month, fueling bets the European Central Bank will soon cut interest rates.

Accordingly, the Euro decreased by 0.7% to 1.0889 USD, but still achieved a monthly increase of 3%, the largest level since November 2022.

The dollar rose 0.7% against the Japanese yen to 148.20 yen per dollar. However, the greenback fell 2.3% against the yen in November, now on track for its biggest monthly decline since December 2022.

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