USD exchange rate at bank
Central exchange rate: State Bank announced at 24,322 VND/USD, up 12 VND compared to December 28.
At Vietcombank: 25,208 - 25,538 VND/USD (buy - sell).
At BIDV: 25,218 - 25,538 VND/USD.
According to VDSC's report, last year, the State Bank sold 9.4 billion USD to stabilize exchange rates, control liquidity and the difference in USD - VND interest rates.
Euro and other currencies exchange rates
Euro:
At Vietcombank: 25,817 VND (buy) - 27,232 VND (sell).
Continued pressure from strong USD.
Japanese Yen:
At Vietcombank: 155.50 - 164.54 VND.
At BIDV: 156.75 - 165.01 VND.
The Japanese yen remains at a five-month low, near a level that could trigger intervention from Tokyo.
Trend analysis and investment suggestions
USD:
The USD has maintained its strength on expectations of prolonged high interest rates. The USD Index remained at 108.2, up nearly 6.6% in 2024.
The yield on 10-year US government bonds rose to 4.641%, the highest since May, providing strong support for the USD.
Recommendation:
Importing businesses should consider buying USD early to avoid the risk of price increases in early 2025.
Exporters can take advantage of the high USD level to lock in foreign currencies.
Japanese Yen:
The BoJ's loose monetary policy continues to weaken the yen, while investors are wary of possible intervention from the Japanese government.
Recommendation:
Investors need to consider the risk of major market volatility if Tokyo decides to intervene.
Expert opinion
Vishnu Varathan, head of macro research for Asia at Mizuho Bank, said the difference in monetary policy between the Fed and the BoJ was the main factor causing the weaker yen.
Jonas Goltermann, Deputy Chief Economist at Capital Economics, forecasts the US dollar will strengthen further next year thanks to the outstanding US economic performance and interest rate differential.
Although the US inflation outlook has decreased, experts still warn of instability from tariff policies and geopolitical factors, especially as President Trump prepares to take office in January 2025.
Other market developments
US stocks: Major indexes such as the S&P 500, Nasdaq, and Dow Jones increased by 25%, 31%, and 14% respectively in 2024. However, the market is under profit-taking pressure at the end of the year.
Gold price: Down 0.74% to $2,615.54/ounce, but still up 27% in 2024, the strongest increase since 2011.
Brent Oil: Up 1.14% this week to $73.75 a barrel, on hopes of economic stimulus from China.
Bitcoin: Down 1.26%, trading at $94,485, continuing to be volatile at the end of the year.
