USD exchange rate today November 28, 2024: USD drops sharply before Thanksgiving holiday

USD exchange rate today in the world

In the US market, the US Dollar Index (DXY) fell 0.95% to 106.06, as the USD weakened ahead of the holiday. Investors were concerned about President-elect Donald Trump's tariff policies after taking office.

US third-quarter GDP data showed a 2.8% increase, in line with forecasts, and did not change the view that the Federal Reserve could ease interest rates next month. Consumer spending data showed steady inflation, paving the way for a rate cut.

The Commerce Department said its PCE price index rose 0.2% in October, and is up 2.3% over the past 12 months. Meanwhile, new goods orders rose just 0.2% in October, and jobless claims fell to 213,000, pointing to a strong labor market.

The USD/JPY index fell 1.43% to a five-week low, while the euro rose 0.74% on the back of a weaker dollar. The yen benefited from expectations of a December interest rate hike in Japan, and because Japan is not affected by Trump’s tariff policies.

Japan is the largest foreign holder of US Treasury bonds and a major investor in the US, said Jane Foley, foreign exchange strategist at RaboBank.

USD exchange rate today in the country

The central exchange rate was listed by the State Bank at 24,295 VND/USD, unchanged from the previous session. The trading range of this exchange rate, according to the State Bank's regulations, fluctuates from 23,080 to 25,509 VND/USD.

The reference exchange rate at the State Bank of Vietnam is currently buying at 23,400 VND/USD and selling at 25,450 VND/USD.

At commercial banks, the USD exchange rate also did not fluctuate much. Specifically, Vietcombank listed the USD price at 25,170 - 25,509 VND/USD, unchanged from the previous session. VietinBank recorded the USD exchange rate at 25,200 - 25,509 VND/USD.

In addition, at some private joint stock banks such as Techcombank, the USD buying and selling rates are 25,125 - 25,509 VND/USD respectively. Meanwhile, Eximbank recorded the USD exchange rate at 24,160 - 24,509 VND/USD this morning.

In the free market, the USD/VND exchange rate has decreased slightly this morning. Specifically, the buying price is 25,710 VND/USD and the selling price is 25,810 VND/USD, down 20 VND and 30 VND compared to the previous session. However, the buying price of USD in the free market is still 585 VND higher than that of banks, while the difference in selling price is at least 301 VND.

ACB Bank's analysis team believes that the USD is showing signs of cooling down, helping to stabilize domestic trading sentiment. Experts expect the exchange rate to fall below VND25,400/USD this week.

In the trading session on November 27, the State Bank continued to intervene in the open market. Specifically, the State Bank bid VND9,999.94 billion with a term of 7 days and an interest rate of 4%/year, the entire amount was won. In addition, the operator issued VND250 billion of 28-day treasury bills, and 100% of these bills were also won with an interest rate of 4%.

According to the latest data from the State Bank, the overnight interest rate on November 26 was 5.43%, down 0.03% from the previous session. Interest rates for other terms such as 1 week was 5.42%, 2 weeks was 5.65%, and 1 month was 5.20%.