USD Index
On November 11, in the US market, the USD Index (DXY) measuring the fluctuations of the greenback against 6 major currencies was at 99.60 points.
However, the current USD Index is 6.59 USD higher than the same period 5 years ago when the currency stood at 93.012 points.
Information that the US Senate has voted to approve a measure that could funding the US Government until January has boosted risk appetite. Setting the US government on a prolonged hold on into its 40th day is expected to have a significant economic impact.
On the Polymarket prediction market, the probability of closing before November 15 has skyrocketed to 92%.
On Friday, the consumer sentiment index weakened to its lowest level in nearly 4 years. Meanwhile, Mr. Kevin Hassett - White House Economic Advisor - said that the US economy could decline in the fourth quarter if the closure continues.
While some may argue that ending a government shutdown could be a risk-off, a disadvantage for the US dollar in exchange rates, the impact could be more complicated, said analysts at ING in a report.
The US dollar is under pressure due to job losses and statements about the US economy could weaken in the fourth quarter if the closure continues.
At the same time, the release of US consumer sentiment data on Friday's decline is seen as an unfavorable factor for the USD. The progress in ending government shutdowns could have more impact on cross-exchanges than the US dollar.
VND vs USD exchange rate
In the domestic market, at the beginning of the trading session on November 11, the State Bank announced that the central exchange rate of the Vietnamese Dong increased by 3 VND, currently at 25,106 VND.
The reference USD exchange rate at the State Bank's Buying - Selling Transaction Office is currently at: VND 23,901 - VND 26,311.
At commercial banks, USD prices have been adjusted in opposite directions at brands.
Banks listed USD selling prices at VND 26,361/USD.
Bank with the highest cash and bank transfer price: ABBank (26.239 VND/USD).
The difference between buying and selling prices at banks ranges from 122-431 VND/USD.
