USD exchange rate today November 22, 2024: USD increased and broke through the 107 mark

USD exchange rate today in the world

The US dollar hit a 13-month high in the last trading session, after investors assessed labor market data and comments from US Federal Reserve officials on the path of interest rates.

The latest data showed initial jobless claims fell 6,000 to 213,000, a seven-month low and below expectations for 220,000. That reflected a rebound in job growth after being disrupted by hurricanes and strikes last month. But the report also showed that unemployed workers are taking longer to find new jobs, and the number of unemployed people has risen to a three-year high, opening the door to a rate cut by the Fed in December.

Fed officials, including Chairman Jerome Powell, have recently signaled the central bank will take a slower path of rate cuts and expressed concern that Donald Trump’s policies could spark inflation. These factors have helped the dollar rise to 107.15, its highest level since October 4, 2023.

Meanwhile, the euro fell 0.64% to $1.0476, after hitting a 13-month low of $1.0461. Rate cut expectations have narrowed recently. Markets now price in a 55.9% chance of a 25 basis point cut by the Fed at its December meeting, down from 72.2% a week ago.

New York Federal Reserve Bank President John Williams said in a recent interview that inflation is falling and interest rates will continue to fall. Meanwhile, Richmond Federal Reserve Bank President Tom Barkin said the U.S. economy will be affected by inflation. Chicago Federal Reserve Bank President Austan Goolsbee also emphasized the need for further rate cuts, although perhaps more slowly.

Safe-haven currencies such as the Japanese yen and Swiss franc briefly rose on signs of escalating tensions between Ukraine and Russia. Against the Japanese yen, the dollar fell 0.56% to 154.56, after falling as much as 0.98% during the session. However, the dollar recovered against the Swiss franc, rising 0.29% to 0.887.

Bank of Japan Governor Kazuo Ueda said the central bank will seriously consider moves in exchange rates in the currency market.

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on November 22, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 5 VND, currently at 24,290 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 decreased slightly, currently at: 24,337 VND - 26,898 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 - 164 VND.