USD exchange rate today 11/21/2024: USD price increases again

USD exchange rate today in the world

In the US market, the US Dollar Index (DXY), which measures the fluctuations of the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), increased by 0.45% to 106.65.

The US dollar recovered after three consecutive sessions of decline. Investors are waiting for more information on the US Federal Reserve's interest rate cut plan and President-elect Donald Trump's policies.

During the trading session, safe-haven currencies such as the Japanese yen, Swiss franc and US dollar all rose, but then reversed to fall.

Although the DXY index has fallen in the last three sessions, it is still up about 3% since the US election, on expectations that the Fed may slow down the pace of interest rate cuts, due to concerns that Mr. Trump's policies could cause inflation to rise again.

Specifically, the DXY index rose 0.44% to 106.65, while the EUR fell 0.5% to $1.0542. The market now rates only a 52% chance that the Fed will cut interest rates by 25 basis points at its December meeting, down sharply from 82.5% a week ago.

A majority of economists expect the Fed to cut interest rates in December, but the cut will be smaller than expected, due to concerns about high inflation from Mr. Trump’s policies, according to a poll. However, Fed officials, including Chairman Jerome Powell, have remained cautious about the rate cut plan.

On November 20, two Fed governors, Michelle Bowman and Lisa Cook, had opposing views on monetary policy. One was concerned about inflation, while the other believed price pressures would ease.

The dollar also rose 0.43% against the Japanese yen to 155.31, and has gained 9% against the yen since the beginning of October, hitting a high of 156.74 last week.

The yen's weakness has raised concerns that the Bank of Japan (BoJ) may intervene if the currency continues to fall sharply.

The pound fell 0.27% to $1.248. While the pound initially rose as data showed stronger-than-expected UK inflation, the rise also made the Bank of England (BoE) more cautious about cutting interest rates. Traders now see an 82.8% chance that the BoE will keep rates unchanged at its meeting next month.

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on November 21, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 8 VND, currently at 24,285 VND.

* The reference exchange rate at the State Bank's transaction office remains unchanged, currently at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

* The EUR exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 24,470 VND - 27,046 VND.

EUR exchange rates at commercial banks are as follows:

* The Japanese Yen exchange rate at the State Bank's exchange office for buying and selling has slightly decreased, currently at: 149 VND - 165 VND.