USD Index
On November 23, in the US market, the USD Index (DXY) measuring the fluctuations of the greenback against 6 major currencies increased slightly by 0.02%, returning to 100.18 points.
The USD weakened against the Japanese Yen in the closing session of the week. The development comes after Japanese officials added interventionist statements to curb the currency's devaluation, although the greenback is overall still heading for its strongest increase in six weeks.
Compared to other major currencies, the US dollar is still well supported, with the DXY reaching its highest level since late May.
In the long term, the US dollar is heading for a weekly gain, and investors are now betting that the US Federal Reserve (Fed) will continue to cut interest rates next month.
The US non-farm payrolls report released late on Thursday showed a mixed picture of the labor market and did not significantly change expectations for a rate cut in December, as policymakers still have to move amid the sluggish economy due to the prolonged US government shutdown.
According to CME Group's FedWatch tool, Fed interest rate futures traders currently rate 71% of the possibility of the Fed cutting interest rates in December, a sharp increase compared to 39% predicted on November 20.
VND vs USD exchange rate
In the domestic market, at the beginning of the trading session on November 23, the State Bank announced that Vietnam's central exchange rate did not adjust to the end of the week, currently at VND 25,136.
The reference USD exchange rate at the State Bank's Buying - Selling Transaction Office is currently at: VND 23,930 - VND 26,342.
At commercial banks, USD prices mostly kept up compared to the previous session.
Most banks listed USD selling prices at VND26,392/USD, up VND6/USD.
Bank with the highest cash and bank transfer price: ABBank (26,318 VND/USD).
The difference between buying and selling prices at banks fluctuates within a large range of 74-409 VND/USD.
