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| Foreign exchange rates today, November 20: USD, EUR, CAD, Pound exchange rates, exchange rates... Why did the greenback fall so dramatically? (Source: Tradestation) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 20 was announced by the State Bank at 23,954 VND/USD, down 18 VND/USD compared to the end of last week (December 17).
Domestic market:
Vietcombank:
USD exchange rate for buying is 24,045 VND/USD, selling is 24,415 VND/USD.
EUR exchange rate for buying is 25,645 VND/EUR and selling is 27,053 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 | 25,645.14 | 27,053.32 | 26,119.80 |
| 2 | JPY | Japanese Yen | 156.55 | 165.71 | 159.48 |
| 3 | GBP | British Pound | 29,318.52 | 30,567.02 | 29,995.98 |
| 4 | AUD | Australian Dollar | 15,269.91 | 15,920.17 | 15,605.60 |
| 5 | CAD | Canadian Dollar | 17,186.74 | 17,918.62 | 17,550.42 |
| 6 | RUB | Russian Ruble | 258.23 | 285.88 | 266.19 |
| 7 | KRW | Korean Won | 16.23 | 19.68 | 18.48 |
| 8 | INR | Indian Rupee | 290.52 | 302.16 | 289.15 |
| 9 | HKD | Hong Kong Dollar (China) | 3,030.20 | 3,159.24 | 3,077.71 |
| 10 | CNY | Chinese Yuan China | 3,277.93 | 3,418.03 | 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) stood at 103.82, down 0.56 (compared to 104.38 on November 17).
The greenback exchange rate fell sharply, while the euro was mixed.
The greenback trend forecast for this week is as follows:
The greenback and Treasury yields fell sharply last week, with the declines triggered by the release of U.S. Consumer Price Index (CPI) inflation data on November 14.
Accordingly, the US CPI increased by 3.2% (year-on-year) in October, down from 3.7% in September. Meanwhile, the core CPI increased by 4% (year-on-year) in October, down from 4.1% in September. The cooling inflation increased market expectations that the US Federal Reserve (Fed) will keep interest rates unchanged at 5-5.25% at its next meeting in December.
The Fed’s next monetary policy meeting is on December 13. So the current sentiment could continue to drive markets for at least the next few weeks, meaning the DXY could remain under pressure.
The short-term outlook for USD is bearish. Current resistance for DXY is at 104, followed by resistance at 104.50 and 105.
The index could fall to 102-101 in the coming weeks. To avoid a deep decline, the DXY needs to break above 105. However, that seems unlikely at the moment.
Meanwhile, the yield on the 10-year US Treasury note has fallen below the key level of 4.5%. The current resistance level is 4.48-4.5%. Movements around the US Treasury bond yield will have a big impact on the growth of the greenback.
Elsewhere, the euro has broken above the key resistance level of 1.08. The short-term outlook for the common European currency is bullish. Current support is in the 1.08-1.0780 zone. The euro could rise to 1.11 and even 1.12 in the coming weeks.
Source
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