USD exchange rate today November 14, 2024: USD hits 106, 1-year peak

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 0.49% to 106.51.

This is the highest level in the past year, mainly due to market expectations after Donald Trump's victory in the US presidential election last week.

Investors predict that, with Mr. Trump taking office in January, new policies and the possibility of tariffs will impact inflation in the US.

DXY is currently rising to a one-year high of 106.53. According to Edison Research, Mr. Trump's Republican Party is likely to control both the Senate and the House of Representatives, making it easier for him to implement policies when he takes office.

Brad Bechtel, global head of FX at Jefferies, said the latest inflation data was in line with market expectations. Specifically, the US consumer price index (CPI) in October increased 0.2%, marking the fourth consecutive month of increase.

Over the past 12 months, the CPI has risen 2.6%, driven largely by rising housing costs. The yield on the benchmark 2-year Treasury note, which is often influenced by interest rate expectations, fell 6.5 basis points to 4.279% after the inflation data was released.

In Japan, wholesale inflation rose the most in more than a year in October, undermining the Bank of Japan’s plans to raise interest rates. The yen traded at 155.46 yen per dollar, its lowest since late July.

The euro also weakened amid concerns over Trump’s tax policies and political turmoil in Germany. Last week, Chancellor Olaf Scholz’s ruling coalition collapsed after the chancellor fired Finance Minister Christian Lindner, leading to the exit of the Free Democratic Party (FDP). The event put pressure on the euro, which fell 0.51% to $1.0569, its lowest level since November 2023.

USD exchange rate today in the country

Domestically, at the beginning of the trading session on November 14, the State Bank adjusted the central exchange rate of the Vietnamese Dong to the USD by 21 VND, currently at 24,288 VND/USD.

At major banks in Vietnam, the USD to VND exchange rate fluctuated slightly. The cash buying rate ranged from 24,390 VND/USD at TPBank to 25,251 VND/USD at HSBC.

The lowest selling rate was recorded at Hong Leong Bank at 24,800 VND/USD, while banks such as BIDV, Eximbank and Vietcombank sold at around 25,502 VND/USD.