USD exchange rate today November 13, 2024: Continue to increase to 106

USD exchange rate today in the world

In the US market, the US Dollar Index (DXY), which measures the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), increased 0.41% to 105.95.

The dollar hit its highest level in more than six months on expectations that interest rates will be difficult to cut due to higher-than-expected tariffs, making the US Federal Reserve less likely to cut rates. The US 10-year bond yield also rose 13.1 basis points to 4.439%.

The DXY index hit 106.17 at one point – its highest level since early May. Recently, after the Fed cut its benchmark interest rate by 0.25 point to 4.50% - 4.75%, traders predict a 59% chance that the Fed will cut interest rates again in December, down from 80% before Donald Trump won the election last week.

According to Decision Desk HQ, Mr. Trump's Republican Party is set to take control of the House of Representatives, allowing him to implement his policies when he takes office in January 2025. FX strategist at UBS, Mr. Serebriakov, believes that the positive trend for the USD will continue in the coming time.

The eurozone and China are also expected to face higher tariffs under Trump. The euro fell to a seven-month low after the US presidential election, while the yuan also hit a more than seven-month low.

The euro was also under pressure from political developments in Europe, especially as Germany, the region's largest economy, holds elections on February 23. The euro fell to $1.0596, its lowest since November 2023, and ended the session down 0.32% at $1.06215. The pound also fell 0.99% to $1.2742, due to slower wage growth and higher unemployment in the UK.

The dollar rose 0.6 percent against the Japanese yen to 154.63 yen, while the yuan ended the session at 7.2378 dollars, its lowest since August 1. The Australian dollar, which is affected by the Chinese economic situation, fell 0.61 percent to 0.6534 dollars.

This week, the market focuses on important US economic data, including the October consumer price index released today (November 13) along with speeches by Fed Chairman Powell and US central bank officials.

USD exchange rate in the country today

At the beginning of the trading session on November 13, the State Bank adjusted the central exchange rate of the Vietnamese Dong against the USD, down 11 VND to 24,267 VND.

The reference exchange rate at the State Bank's Transaction Office (buying - selling) remains unchanged at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks have different buying and selling rates depending on each bank.

EUR exchange rate slightly decreased, currently at buying - selling level: 24,569 VND - 27,156 VND.

EUR exchange rates at commercial banks for buying and selling are as follows:

The Japanese yen exchange rate also decreased slightly, with buying and selling rates: 150 VND - 166 VND.

Quoc Duong