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| Foreign exchange rates today, December 6: USD, EUR, CAD, Pound, exchange rates... Waiting for the Fed to cut interest rates, loosen monetary policy, the greenback will increase. (Source: CFR) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of December 6 was announced by the State Bank at 23,951, an increase of 25 VND/USD compared to yesterday.
Domestic market:
USD exchange rate for buying is 24,060 VND/USD, selling is 24,430 VND/USD.
EUR exchange rate for buying is 25,618 VND/EUR and selling is 27,025 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,125 VND/USD, selling is 24,425 VND/USD.
EUR exchange rate for buying is 25,812 VND/EUR, selling is 27,004 VND/EUR.
| STT | Currency code | Currency name | Bank exchange rate commerce Buy | Bank exchange rate commerce Sell out | *State Bank exchange rate Apply for import and export from November 30 to December 6 |
| 1 | EUR | Euro | 25,618.47 | 27,025.16 | 26,304.30 |
| 2 | JPY | Japanese Yen | 160.54 | 169.94 | 162.58 |
| 3 | GBP | British Pound | 29,866.15 | 29,866.15 | 30,402.99 |
| 4 | AUD | Australian Dollar | 15,558.29 | 16,220.81 | 15,878.23 |
| 5 | CAD | Canadian Dollar | 17,437.09 | 18,179.62 | 17,642.76 |
| 6 | RUB | Russian Ruble | 252.34 | 279.37 | 268.80 |
| 7 | KRW | South Korean Won | 15.99 | 19.38 | 18.58 |
| 8 | INR | Indian Rupee | 290.14 | 301.76 | 287.04 |
| 9 | HKD | Hong Kong Dollar (China) | 3,025.25 | 3,154.08 | 3,066.52 |
| 10 | CNY | Chinese Yuan China | 3,325.40 | 3,467.53 | 3,357.62 |
(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 0.24% to 103.95.
The USD exchange rate in the world today increased. The Euro and the British Pound decreased.
The greenback continued to rise despite newly released data showing US job openings fell in October to their lowest level since early 2021.
Job openings, a measure of labor demand, fell by 617,000 last month, the US Labor Department said.
A slowing labor market and cooling inflation have raised expectations that the US Federal Reserve may be done raising interest rates for this cycle, with markets even predicting a rate cut by mid-2024.
“Investors are more concerned about when they will ease monetary policy,” said Brad Bechtel, an FX specialist at Jefferies in New York.
Analysts say the greenback's rise is partly due to a reversal of a sharp sell-off in recent weeks, which saw the DXY index fall 3% in November alone, its biggest monthly decline in a year.
Traders have priced in at least 125 basis points of Fed cuts next year, with a high probability of 50 basis points in June, according to CME's FedWatch tool.
“The Fed is trying to convince the market that they can still raise rates,” said Joseph Trevisani, senior analyst at FXStreet.com .
Elsewhere, investors are betting that the European Central Bank could deliver its first interest rate cut in March. Inflation across the euro zone has fallen faster than expected, consumer price data released last week showed.
The euro ended the session down 0.5% at $1.0782. The pound fell 0.4% to $1.258, while the yen was steady.
The Australian dollar fell 1.03% to $0.6545, after the Reserve Bank of Australia (RBA) kept interest rates at a 12-year high of 4.35% on December 5.
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