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| Foreign exchange rates today, December 7: USD, EUR, CAD, Pound, exchange rates... The greenback is increasing continuously, the Euro is decreasing widely. (Source: Blominvest) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of December 7 was announced by the State Bank at 23,959 VND, an increase of 8 VND/USD compared to yesterday.
Domestic market:
Vietcombank:
USD exchange rate for buying is 24,065 VND/USD, selling is 24,435 VND/USD.
EUR exchange rate for buying is 25,474 VND/EUR and selling is 26,873 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 25,662 VND/EUR, selling is 26,848 VND/EUR.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply import and export from 7-13/12 |
| 1 | EUR | Euro | 25,474.81 | 26,873.60 | 25,847.92 |
| 2 | JPY | Japanese Yen | 160.24 | 169.63 | 162.69 |
| 3 | GBP | British Pound | 29,775.38 | 31,043.30 | 30,183.05 |
| 4 | AUD | Australian Dollar | 15,552.04 | 16,214.29 | 15,764.55 |
| 5 | CAD | Canadian Dollar | 17,422.70 | 18,164.61 | 17,643.46 |
| 6 | RUB | Russian Ruble | 248.70 | 275.33 | 258.56 |
| 7 | KRW | Korean Won | 15.96 | 19.34 | 18.24 |
| 8 | INR | Indian Rupee | 290.39 | 302.02 | 287.36 |
| 9 | HKD | Hong Kong Dollar (China) | 3,028.36 | 3,157.31 | 3,066.04 |
| 10 | CNY | Chinese Yuan China | 3,320.09 | 3,461.99 | 3,346.09 |
(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 0.11% to 104.16.
The greenback exchange rate in the world today continues to increase, the Euro decreases widely.
The greenback hit a two-week high on Tuesday, while the euro weakened broadly as markets increased bets that the European Central Bank (ECB) will cut interest rates as early as next March.
Although markets are still pricing in at least 125 basis points of rate cuts from the US Federal Reserve next year, the US dollar may remain stable amid rising bets on rate cuts from other central banks.
The DXY index rose 0.19% during the last trading session, reaching 104.16. Meanwhile, the Euro fell 0.29% to 1.0764 USD.
Traders are betting on an 85% chance that the ECB will cut interest rates at its March meeting, with a cut of nearly 150 basis points by the end of 2024. ECB policymaker Isabel Schnabel said on December 5 that further rate hikes were unlikely due to a significant drop in inflation in the region.
The ECB meets next week and is almost certain to leave interest rates unchanged at their current record high of 4%. The Fed and the Bank of England are also likely to keep rates steady at their policy meetings next week.
Traders have priced in about a 60% chance that the US central bank will cut interest rates in March, according to CME's FedWatch tool.
If the Fed cuts interest rates as markets expect, it would likely be negative for the dollar, according to a Reuters poll of foreign exchange strategists.
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