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| Foreign exchange rates today, November 28: USD, EUR, CAD, Pound, exchange rates... The greenback continues to fall in value. (Source: Reuters) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 28 was announced by the State Bank at 23,930 VND/USD, down 17 VND/USD compared to yesterday.
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 25,869 VND/EUR and selling is 27,290 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,110 VND/USD, selling is 24,410 VND/USD.
EUR exchange rate for buying is 26,100 VND/EUR, selling is 27,307 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 23-29/11 |
| 1 | EUR | Euro | 25,869.56 | 27,290.06 | 26,027.48 |
| 2 | JPY | Japanese Yen | 158.13 | 167.39 | 160.37 |
| 3 | GBP | British Pound | 29,814.60 | 31,084.23 | 29,884.91 |
| 4 | AUD | Australian Dollar | 15,560.48 | 16,223.11 | 15,592.13 |
| 5 | CAD | Canadian Dollar | 17,324.09 | 18,061.82 | 17,407.62 |
| 6 | RUB | Russian Ruble | 259.97 | 287.81 | 271.56 |
| 7 | KRW | Korean Won | 16.08 | 19.49 | 18.36 |
| 8 | INR | Indian Rupee | 289.89 | 301.51 | 286.61 |
| 9 | HKD | Hong Kong Dollar (China) | 3,033.55 | 3,162.73 | 3,061.9 |
| 10 | CNY | Chinese Yuan China | 3,319.30 | 3,461.17 | 3,341.87 |
(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 0.18% to 103.23.
The greenback exchange rate in the world today decreased, other currencies have risen.
The US dollar fell in the last trading session, on track for its biggest monthly decline in a year, on expectations that the US Federal Reserve has finished raising interest rates and could start cutting them in the first half of next year. The sharp decline has sparked speculation, with some experts even questioning whether the greenback’s heyday is over.
Specifically, the DXY Index is heading for a monthly decline of more than 3%, its worst performance since November 2022.
“Technically, the DXY has fallen sharply over the past two weeks, suggesting that the dollar’s heyday is over,” said Amo Sahota, director of FX consultancy Klarity FX in San Francisco.
According to CME Group's FedWatch Tool, U.S. interest rate futures on Nov. 27 showed a roughly 23% chance that the Fed could start easing monetary policy as early as March 2024. That probability rises to about 50% by May.
Investors are also looking ahead to a slew of events and data this week that could determine the future direction of interest rates globally.
The OPEC+ meeting was postponed, and personal consumption expenditure (PCE) data, the Fed's inflation gauge, as well as consumer price data in the euro zone and Australia are due for release this week.
The dollar continued to fall after data showed that U.S. new home sales fell more than expected in October, falling 5.6% to a seasonally adjusted annual rate of 679,000 units. In addition, the sales pace in September was revised lower to 719,000 units from the previously reported 759,000 units.
“If the US economy can show sustained growth, rather than a sharp and sudden recession as some major economists have predicted, we could see a reversal in the dollar later this month,” said Helen Given, a foreign exchange trader at Monex USA in Washington.
Elsewhere, the euro rose 0.2 percent against the dollar to $1.0953. The common European currency has gained about 3.6 percent this month, on track for its biggest monthly gain in a year.
The dollar fell 0.6 percent to 148.59 yen against the Japanese yen. The U.S. currency fell about 2 percent in November, its biggest monthly decline since February.
The pound rose to a more than two-month high of $1.2644, building on last week’s gains, after data showed British companies unexpectedly reported a slight return to growth in November after three straight months of decline. The pound was up 0.2% at $1.2628.
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