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| Foreign exchange rates today, November 16: USD, EUR, CAD, Pound, exchange rates... The Fed's "order" is unclear, the greenback is slightly up. (Source: Graphic) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 16 was announced by the State Bank at 23,971 VND/USD, down 45 VND/USD compared to the previous day.
Domestic market:
Vietcombank:
USD exchange rate for buying is 24,070.00 VND/USD, selling is 24,440.00 VND/USD.
EUR exchange rate for buying is 25,707 VND/EUR and selling is 27,118 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,145 VND/USD, selling is 24,445 VND/USD.
EUR exchange rate for buying is 25,874 VND/EUR, selling is 27,069 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 | 24,070.00 | 24,440.00 | 26,119.80 |
| 2 | JPY | Japanese Yen | 156.53 | 165.70 | 159.48 |
| 3 | GBP | British Pound | 29,526.13 | 30,783.42 | 29,995.98 |
| 4 | AUD | Australian Dollar | 15,377.90 | 16,032.72 | 15,605.60 |
| 5 | CAD | Canadian Dollar | 17,284.94 | 18,020.97 | 17,550.42 |
| 6 | RUB | Russian Ruble | 256.31 | 283.75 | 266.19 |
| 7 | KRW | Korean Won | 16.13 | 19.55 | 18.48 |
| 8 | INR | Indian Rupee | 291.16 | 302.83 | 289.15 |
| 9 | HKD | Hong Kong Dollar (China) | 3,031.16 | 3,160.23 | 3,077.71 |
| 10 | CNY | Chinese Yuan China | 3,283.85 | 3,424.20 | 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) increased by 0.33% to 104.38.
The greenback exchange rate in the world today increased slightly after many consecutive sessions of decline. Other key currencies such as the Euro, British Pound, and Japanese Yen all decreased.
The greenback rose on Friday after data showed U.S. retail sales fell more than expected in October, a reminder that the timing of a rate cut by the Federal Reserve remains unclear.
The dollar snapped its biggest one-year slide on November 15 as consumer price index (CPI) data showed US inflation was cooling faster than expected, fueling expectations that the Fed was done raising interest rates. However, the US CPI is currently at 3.2%, still well above the Fed’s 2% target, leaving the question of when the Fed will cut rates unresolved.
“Until the market believes the Fed’s next move will be a rate cut, we will see the dollar rally before weakening,” said Steven Englander, head of global G10 FX research at Chartered Bank in New York.
Separately, the U.S. Department of Labor's Bureau of Labor Statistics said U.S. retail sales fell for the first time in seven months in October, while producer prices posted their biggest decline in three and a half years in October. More than 80 percent of the decline in the Producer Price Index for consumer goods in October was due to a 15.3 percent drop in gasoline prices.
“The market is pricing in a rate cut in the first few quarters of next year,” said Roosevelt Bowman, senior investment strategist at Bernstein Private Wealth Management in New York.
Investors have all but discounted the possibility of another rate hike at the Fed policymakers' meeting in December, while bets on a rate cut by May 2024 have risen to more than 65%, according to CME Group's FedWatch Tool.
Elsewhere, the euro fell 0.32 percent to $1.0844 after hitting its highest since August. The pound ended the session at $1.2408, down 0.71 percent; the yen weakened 0.66 percent to $151.37.
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