Update USD exchange rate today at BIG 4 group
In the domestic market early on the morning of November 28, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD to stand at 24,295 VND.
The reference USD exchange rate at the State Bank of Vietnam (buying - selling) remains unchanged, currently at: 23,400 VND - 25,450 VND.
At 4 major banks (Vietcombank, VietinBank, BIDV, Agribank), the USD exchange rate is being bought and sold in a sideways direction compared to yesterday's session.
Vietcombank: USD exchange rate remains unchanged in both directions, listed at selling price of 25,170 VND and buying price of 25,509 VND.
Agribank: Maintained stability in selling price at 25,509 VND and buying price at 25,210 VND, compared to the previous trading session.
BIDV: USD exchange rate remains unchanged, listed at 25,509 VND (sell) and 25,200 VND (buy).
VietinBank: No change recorded, USD selling price remains at 25,200 VND and buying price at 25,506 VND.
Market developments affect the USD
In the US market, compared to some other currencies in the last trading session, the USD was slightly better. The main reason was that US President-elect Donald Trump pledged to apply new tariffs on imports from Canada, Mexico and China.
In addition, the US Federal Reserve (Fed) has just released the minutes of its latest meeting. The minutes show the conflicting views of Fed officials on the need to cut interest rates, but also show a unified view on not rushing to give a specific direction in the near future.
Points to note as the USD increases in value
Inflationary
Not only poor or developing countries, but also rich countries are also affected by the USD. When the USD increases in value, inflationary pressure also increases, and the price of imported goods increases. Central banks often respond by raising interest rates, which makes it difficult for people and businesses to access credit, slowing economic growth.
The joy of American tourists
For American tourists, the stronger dollar is a big plus. When comparing prices for hotels, dining out or luxury goods, everything is cheaper, whether in London, the French Riviera or Cancun, Mexico.
American goods
For global consumers looking to buy from U.S. brands, a strong dollar will increase the price of products. However, some local distributors may adjust prices to mitigate the impact of the exchange rate difference.
