Foreign exchange rates on November 26, 2024: USD slightly increased

On November 26, the exchange rate between the Vietnamese Dong (VND) and the US Dollar (USD) and the Chinese Yuan (CNY) at banks recorded a slight increase compared to the early morning session on November 25.

USD exchange rate on the international market

The Dollar Index (DXY), which compares the USD with six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), fell 0.66% to 106.89 as of December 25, 2024.

The greenback slipped from a two-year high on Monday as the U.S. Treasury market reacted positively to President-elect Donald Trump’s nomination of hedge fund manager Scott Bessent as Treasury secretary, with markets expecting Bessent to implement a tighter fiscal policy than initially feared.

In response to the news, the yield on the 10-year Treasury note fell 14 basis points, the biggest drop since August. The yield on the 2-year note also fell sharply, reducing the interest rate advantage of the USD.

The dollar index, which measures the greenback's strength against six other currencies including the Japanese yen and euro, fell 0.61% to 106.83, down 1% from a two-year high hit on Friday.

Trading was quiet today, partly due to the Thanksgiving holiday in the US on Thursday and Friday. This week, important data will be released on Wednesday, including US third-quarter GDP figures and October Personal Consumption Expenditures price index.

The US dollar has been on an eight-week winning streak as technical indicators point to strong buying, fueled by expectations that Trump's policies will push up inflation, further supporting the greenback.

“The valuations of many US assets have been overvalued over the past three weeks and the market seems to need a pause to adjust the dollar position,” said BNY strategist Geoff Yu.

USD exchange rate in domestic market

Specifically, the central exchange rate announced by the State Bank is currently 24,295 VND/USD, an increase of 3 VND compared to the previous day. With a fluctuation range of +/-5%, the ceiling exchange rate of the day is 25,510 VND/USD, while the floor exchange rate is at 23,080 VND/USD. The reference exchange rate at the State Bank's Transaction Office remains at 23,400 - 25,450 VND/USD (buy - sell).

At the commercial banking system, at 8:38 a.m., both Vietcombank and BIDV listed the USD exchange rate at 25,200 - 25,509 VND/USD (buy - sell). Compared to the morning of November 25, at Vietcombank, the exchange rate increased by 3 VND in both directions, while at BIDV, the selling price increased by 3 VND but the buying price remained unchanged.

Regarding the CNY exchange rate, this morning Vietcombank listed it at 3,456 - 3,567 VND/CNY (buy - sell), up 1 VND in both directions. At the same time, BIDV also adjusted the rate up 3 VND for both buying and selling, with the current listed rate being 3,468 - 3,566 VND/CNY.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/ty-gia-ngoai-te-ngay-26-11-2024-usd-tang-nhe/20241126093955745