USD exchange rate at bank
Central exchange rate: State Bank announced at 24,327 VND/USD, up 5 VND compared to December 30.
At Vietcombank: 25,213 - 25,543 VND/USD (buy - sell).
At BIDV: 25,248 - 25,543 VND/USD.
Euro and other currencies exchange rates
Euro:
At Vietcombank: 25,856 VND (buy) - 27,274 VND (sell).
Continued pressure from strong USD.
Japanese Yen:
At Vietcombank: 155.63 - 164.68 VND.
At BIDV: 156.62 - 164.72 VND.
The yen rebounded slightly but remained near a level that could trigger intervention from Tokyo.
Trend analysis and investment suggestions
USD:
The dollar continued to benefit from the 10-year Treasury yield, which was at 4.593%, near a seven-month high. The dollar index held steady at 107.86, up 2% in December and up 6.35% for the year.
Recommendation:
Importing businesses should consider buying USD early to reduce the risk of price increases in the first weeks of 2025.
Exporters can take advantage of the high USD level to lock in foreign exchange profits.
Japanese Yen:
The Japanese yen has rebounded slightly from a five-month low on expectations of a rate hike in 2025 and the possibility of intervention from the Japanese government. However, the BoJ's monetary policy remains low, making it difficult for the yen to compete with the dollar.
Recommendation:
Investors should pay attention to intervention signals from the Japanese Ministry of Finance if the Yen continues to weaken.
Euro and Pound:
The euro is currently hovering around $1.0441, near a two-year low, while the pound is trading at $1.2595. The ECB remains cautious, forecasting it will continue to cut rates faster than the Fed in 2025.
Recommendation:
Investors should closely monitor signals from the ECB and Fed to adjust their trading strategies.
Expert opinion
Chris Weston of Pepperstone said the USD will continue to hold its position thanks to the expectation of supportive policies from President-elect Donald Trump. Meanwhile, Fawad Razaqzada of City Index predicted that the Japanese Yen will recover next year if the BoJ raises interest rates to control inflation.
Experts also advised investors to continue to monitor the US ISM manufacturing PMI report, which is forecast to decline slightly from 48.4 to 48.3, reflecting pressure from production costs. Currency markets will also be greatly affected by President Trump's statements on tax and trade policies.
