USD exchange rate today November 26, 2024: World and domestic USD continues to decrease

USD exchange rate today in the world

In the US market, the US Dollar Index (DXY), which measures the USD's performance against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), fell 0.66% to 106.89. The USD weakened from its two-year high in the recent trading session.

The decline in the USD was also fueled by news from the US Treasury market, when US President-elect Donald Trump announced his selection of hedge fund manager Scott Bessent as US Treasury Secretary. In a statement on the social network Truth Social, Mr. Trump praised Mr. Bessent as one of the world's leading investors and a respected geopolitical and economic strategist. The president-elect expressed his belief that Mr. Bessent will help lead the US economy into a new era of prosperity.

The news sent U.S. Treasury yields tumbling, with the 10-year yield falling about 14 basis points. Two-year yields also fell sharply, dragging down the dollar. However, Mr. Bessent is known as a seasoned Wall Street financier and has publicly supported the dollar and tariff policies.

Trading activity is expected to be light this week, especially ahead of the US Thanksgiving holiday on November 28 and 29. Key data releases this week include US third-quarter GDP and the October Personal Consumption Expenditures price index. The US dollar has been on an eight-week winning streak over the past eight weeks as markets expect Mr Trump’s policies to boost inflation and continue to support the greenback.

Meanwhile, the euro rose 0.83% to $1.0503, recovering from its lowest level against the dollar since late 2022. The dollar also weakened 0.37% against the Japanese yen to 154.16 yen. The euro was hit late last week by weak data from European manufacturing surveys, which contrasted with upbeat figures from the US. This reduced European bond yields and created expectations that the European Central Bank (ECB) would cut interest rates aggressively, possibly by 50 basis points in December.

In contrast, the market has also reduced the probability of the US Federal Reserve (Fed) cutting interest rates in December, from 75% to 54%, according to the CME Group's Fed tracker. The market now predicts that the ECB could cut interest rates by about 150 basis points by the end of next year, while the Fed will only ease by about 75 basis points. Minutes of the most recent Fed meeting are expected to be released, providing more information on the US Central Bank's view on monetary policy decisions.

The pound was last up 0.33% at $1.2572, after hitting a six-week low of $1.2484.

USD exchange rate in the country today

The central exchange rate of VND/USD was listed by the State Bank at the beginning of the week at 24,292 VND/USD, down 3 VND compared to the beginning of last week. According to the exchange rate band of +/-5% that commercial banks are allowed to trade, the ceiling and floor exchange rates are currently at 23,077 VND/USD and 25,506 VND/USD.

At the State Bank of Vietnam, the reference buying and selling rates are 23,400 VND/USD and 25,450 VND/USD.

At commercial banks, such as Vietcombank, the USD exchange rate is listed at 25,167 VND/USD (buy) and 25,506 VND/USD (sell), down 3 VND each way compared to yesterday. At the same time, at VietinBank, the USD buying and selling rates are at 25,200 VND/USD and 25,506 VND/USD.

Surveyed at some private joint stock commercial banks, such as Techcombank, the USD buying and selling rates were at 25,160 VND/USD and 25,506 VND/USD. At Eximbank, the USD/VND exchange rate this morning was 25,200 VND/USD (buying) and 25,506 VND/USD (selling).

In the free market, the USD/VND exchange rate this morning was recorded at 25,740 VND/USD (buy) and 25,840 VND/USD (sell), up 90 VND each way compared to yesterday. This means that the USD buying price in the free market is currently 580 VND higher than that of banks. Meanwhile, the difference in selling price between commercial banks and the free market is at least 334 VND.

In the trading session on November 25, the State Bank continued to intervene in the open market. Specifically, on the term purchase channel, the State Bank bid 19,999.91 billion VND with a term of 7 days and an interest rate of 4%/year. All 19,999.91 billion VND were won. At the same time, the State Bank issued treasury bills with a term of 28 days, and all 500 billion VND of treasury bills were also won with an interest rate of 4%.

According to the latest data from the State Bank, the overnight interest rate in the trading session on November 21 is currently at 4.06%, down 0.13% compared to the previous session. Other terms have interest rates of 4.22% for the 1-week term, 4.54% for the 2-week term, and 4.84% for the 1-month term.