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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:
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 exchange rate commerce Buy | Bank exchange rate commerce Sell out | *State Bank exchange rate Apply for import and export from December 7-13 |
| 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 | South 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 in the previous session, 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 by the US Federal Reserve next year, the US dollar may remain stable amid rising bets on rate cuts by 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 fall in inflation in the region.
The ECB meets next week and is almost certain to keep rates unchanged at their current record high of 4%. The Fed and Bank of England are also likely to keep rates steady at their policy meetings next week.
Traders have priced in about a 60% chance 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 will likely be negative for the dollar, according to a Reuters poll of foreign exchange strategists.
Source
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