USD exchange rate today November 29, 2024: USD slightly increased during Thanksgiving holiday

USD exchange rate today in the world

In the US market, the US Dollar Index (DXY) rose slightly by 0.07% to 106.16. The USD recovered, while the EUR fell after traders lowered expectations for further ECB rate cuts. The market was also thin as the US entered the Thanksgiving holiday.

The Japanese yen fell to 151.58 yen per dollar but was up 2.1% for the week, recovering from the U.S. election and on track for its biggest weekly gain in three months. Markets are betting the Bank of Japan will raise interest rates in December.

The DXY index touched 106.21 after falling to 105.85 earlier. Michael Brown (Pepperstone) expects the USD to recover next month.

The euro fell 0.2% to $1.054625 after a dovish speech from ECB's Isabel Schnabel. German inflation data was unchanged in November, and euro zone inflation will be released on November 29, which could influence ECB policy.

The British pound held steady at $1.2666. The Australian dollar recovered slightly to $0.6501 after falling earlier in the session. The governor of the Reserve Bank of Australia said underlying inflation was too high to warrant a rate cut in the near term.

According to RT, the Central Bank of Russia has announced the suspension of USD purchases on domestic exchanges from November 28 until the end of the year, in order to reduce market volatility. The decision was made after the Russian ruble fell to a near-record low of 114 rubles per dollar on November 27.

The Central Bank of Russia also said it would continue selling foreign currency to replenish the National Wealth Fund, which currently stands at 8.4 billion rubles ($74 million) a day. The decision on when to resume foreign currency purchases will depend on “the situation on financial markets,” and the postponed dollar purchases will be implemented in 2025.

The ruble’s slide comes amid Western sanctions and rising geopolitical tensions. Last week, the US expanded restrictions on Russia’s financial sector, specifically targeting Gazprombank, the country’s third-largest bank, which plays a key role in processing payments for energy exports.

Rosbank analysts said the new sanctions could complicate international trade transactions and reduce incentives to bring foreign currency liquidity into Russia. They also predicted that the trend of weakening ruble could continue until 2025.

USD exchange rate today in the country

The central exchange rate listed by the State Bank is 24,271 VND/USD, down 24 VND compared to the previous session. According to the trading band of commercial banks (+/- 5%), the ceiling and floor exchange rates are currently from 23,057 VND/USD to 25,484 VND/USD.

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

Commercial banks such as Vietcombank listed the USD price at 25,145 - 25,484 VND/USD, down 25 VND each way compared to the previous session. At VietinBank, the USD buying - selling rate is 25,160 - 25,484 VND/USD.

At Techcombank, the buying and selling USD prices are 25,115 - 25,484 VND/USD respectively.

In the free market, the USD/VND exchange rate fluctuated at 25,690 - 25,790 VND this morning, down 20 VND compared to the previous session. Thus, the USD buying price in the free market is 575 VND higher than that of the banking channel. The difference in selling price between commercial banks and the free market is at least 306 VND.

In the trading session on November 28, the State Bank continued to intervene in the open market. On the term purchase channel, the State Bank bid VND3,000 billion with a term of 7 days and an interest rate of 4%/year, and the entire amount was won. In addition, the State Bank also issued 28-day treasury bills with an interest rate of 4%, and 100% of the treasury bill volume was won, equivalent to VND4,150 billion.