USD exchange rate today, November 15, 2024: The US dollar continues its rapid rise.

Today's USD exchange rate worldwide

In the US market, the US Dollar Index (DXY), which measures the strength of the USD against six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose 0.39% to 106.87.

The market anticipates that the Donald Trump administration will implement new trade policies such as increased tariffs and stricter immigration, which are expected to drive inflation higher. Edison Research predicted on November 13th that the Republican Party, Trump's party, will control both the Senate and the House of Representatives when he takes office next January.

The US dollar rose to 156.38 yen/USD, its highest level since July, closing the session up 0.56%. Meanwhile, the euro (EUR) fell to its lowest level since November 2023, ending the session down 0.45% at $1.05165. The British pound (GBP) also fell 0.44%, hitting a four-month low against the USD at $1.2651.

The U.S. Department of Labor announced on November 14 that U.S. producer prices rose in October, despite virtually no change in consumer inflation data. The number of new jobless claims also fell, indicating a strong labor market. However, these figures did not affect the view that the Federal Reserve will cut interest rates for the third time next month.

Conversely, on November 14, Fed Chairman Jerome Powell stated that there was no need to rush into cutting interest rates because the US economy remained strong. This view was also shared by Fed Governor Adriana Kugler and Richmond Fed President Thomas Barkin.

The DXY index briefly reached 107.07 during the trading session, its highest level since early November 2023. The yield on 10-year US Treasury bonds fell 3.7 basis points to 4.414%.

The Swiss franc was under pressure against the USD, while the Australian dollar (AUD) fell to its lowest level in three months, reaching just 0.6453 USD, due to disappointing employment data.

According to Daragh Maher, FX strategist at HSBC in New York, "This price volatility was anticipated based on the election results and market expectations regarding tariffs and immigration." He added, "We expect the USD to continue strengthening, and these movements are consistent with our and market forecasts."

Today's domestic USD exchange rate

The State Bank of Vietnam started the week with the central exchange rate at 24,290 VND/USD, an increase of 2 dong compared to the beginning of yesterday morning.

Commercial banks are allowed to trade within a +/-5% range, meaning the maximum exchange rate is between 23,075 and 25,504 VND/USD.

At the State Bank of Vietnam's exchange floor, the reference exchange rate is currently 23,400 VND for buying and 25,450 VND for selling.

Several commercial banks, such as Vietcombank, are listing the USD exchange rate at 25,154 VND for buying and 25,504 VND for selling, an increase of 4 VND and 2 VND respectively compared to yesterday morning. At VietinBank, the buying and selling rates are 25,190 - 25,504 VND/USD. Techcombank also lists the buying/selling rates at 25,145 - 25,504 VND/USD. Meanwhile, Eximbank recorded the USD/VND exchange rate this morning at 25,160 - 25,504 VND/USD.

In the free market, the USD/VND exchange rate this morning rose to 25,620 VND for buying and 25,720 VND for selling, an increase of 80 VND (buying) and 70 VND (selling) compared to yesterday morning.

Thus, the buying price of USD in the free market is currently up to 475 dong higher than that of banks, while the selling price in the free market is only at least 216 dong higher than that of commercial banks.

Besides being affected by international fluctuations, the USD/VND exchange rate is also under significant pressure from increased domestic demand for foreign currency due to seasonal factors. Furthermore, recent foreign currency demand from the State Treasury has also contributed to the rise in the USD/VND exchange rate.

According to Rong Viet Securities, the USD/VND exchange rate is usually under upward pressure at the end of the third quarter and the beginning of the fourth quarter due to a sharp increase in demand for foreign currency for international debt repayment, raw material imports, and the repatriation of profits by FDI enterprises, causing an imbalance in the supply and demand of foreign currency.

In the trading session on November 14th, the State Bank of Vietnam continued its intervention by offering VND 19,999.91 billion in 7-day bonds at an interest rate of 4% per annum on the open market, and the entire amount was successfully bid. In addition, the State Bank also issued 28-day treasury bills at an interest rate of 4%, with a successful bid volume of VND 1,450 billion.