USD Index
On November 29, in the US market, the USD Index (DXY) measuring the fluctuations of the greenback against 6 major currencies decreased slightly by 0.08%, anchored at 99.48 points.
The USD continues to depreciate as international investors are simultaneously betting on the possibility of the Fed cutting interest rates. The weakening of the USD comes as US Treasury yields cool down and capital flows shift to more risky assets.
The market has almost valued it at over 70% of the possibility of the Fed cutting interest rates at the December policy meeting, following signals of decreasing inflation, slowing consumption and a declining labor market. Other major currencies, such as the NZD, Euro and British pound, all increased in value as US monetary policy showed signs of easing while other central banks remained cautious.
Reuters Markets experts said the current weakness reflects the investor sentiment shifting from "defending the USD" to "finding risks". If the Fed lowers interest rates in December, the USD could fall to the 99 point range, but this is mainly a short-term technical adjustment, not a long-term reversal.
Many experts assess that the USD may continue to decline in the short term but is unlikely to collapse strongly. Despite falling US yields, interest rate differentials with the rest of the world still help the USD play a central role in the global financial system.
If the Fed starts a rate cutting cycle, 2026 could see a softer financial environment, a less strong USD and strong capital flows into emerging markets, but with just a strong signal from the Fed, the trend can reverse quickly.
VND vs USD exchange rate
In the domestic market, at the beginning of the trading session on November 29, the State Bank announced that the central exchange rate of Vietnam increased by 3 VND, currently at 25,155 VND.
The reference USD exchange rate at the State Bank's Buying - Selling Transaction Office is currently at: 23,948 VND - 26,362 VND.
At commercial banks, the USD price reversed and fell sharply.
Most banks listed USD selling prices at VND26,412/USD (up VND3/USD).
Bank with the highest cash and transfer price: HSBC (26,255 VND/USD, down 6 VND/USD).
The difference between buying and selling prices at banks fluctuates within a large range of 157-419 VND/USD.
