USD exchange rate today December 31, 2024: USD slightly increased, Japanese Yen continued to decrease
According to the State Bank of Vietnam, the central exchange rate between the Vietnamese Dong and the USD increased by 5 VND, reaching 24,327 VND. In the international market, the US Dollar Index (DXY) also increased slightly by 0.06%, to 108.06 points.
USD exchange rate today in the country
In the domestic market, at the beginning of the trading session on December 31, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 5 VND, currently at 24,327 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:
| USD exchange rate | Buy | Sell |
| Vietcombank | 25,213 VND | 25,543 VND |
| Vietinbank | 25,155 VND | 25,543 VND |
| BIDV | 25,248 VND | 25,543 VND |
* The EUR exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 24,101 VND - 26,638 VND.
EUR exchange rates at commercial banks are as follows:
| EUR exchange rate | Buy | Sell |
| Vietcombank | 25,856 VND | 27,274 VND |
| Vietinbank | 25,623 VND | 27,123 VND |
| BIDV | 26,084 VND | 27,278 VND |
* The Japanese Yen exchange rate at the State Bank's exchange office remains unchanged, currently at: 146 VND - 162 VND.
| Japanese Yen Exchange Rate | Buy | Sell |
| Vietcombank | 155.63 VND | 164.68 VND |
| Vietinbank | 158.37 VND | 168.07 VND |
| BIDV | 156.62 VND | 164.72 VND |
USD rises on Fed monetary policy expectations
The dollar has gained in recent weeks on expectations that the Federal Reserve will keep interest rates higher into 2025. Fed policymakers have revised their forecasts for interest rates down to 50 basis points, down from 100 basis points previously. Fed Chairman Jerome Powell stressed that further rate cuts depend on progress in controlling inflation.
Japanese Yen Under Pressure From Interest Rate Differential
The Japanese yen continued to weaken against the US dollar, falling 0.51% in the latest trading session to 157.02 yen. The main reason is the large interest rate differential between Japan and the US. However, some analysts predict that the yen could recover by 2025 if the Bank of Japan raises interest rates while the Fed eases policy.
EUR and GBP Weaken on USD Strength
The euro (EUR) fell 0.25% to $1.0401, heading for a 5.8% decline in 2024. The European Central Bank (ECB) has cut interest rates four times this year, and markets expect the ECB to continue cutting rates faster than the Fed in 2025. Meanwhile, the British pound (GBP) also fell 0.26% to $1.2546, recording a decline of 1.4% for the year.
Japanese Finance Minister Katsunobu Kato has warned of possible intervention if the yen continues to weaken. Meanwhile, analysts are closely watching policy moves from the Fed and ECB to predict the exchange rate trend next year. With a 6.6% gain in 2024, the DXY index continues to affirm the strength of the USD in the global market.
