The US dollar was trending lower against major currencies today. The US Dollar Index fell 0.33% to 101.85, while the State Bank of Vietnam set the central rate at VND25,644. Buy and sell rates in the domestic market were generally in the VND25,458–26,025 range.
The US dollar was lower against major currencies today. The US Dollar Index (DXY) fell 0.33% to 101.85. The State Bank of Vietnam announced a central rate of VND25,644 against the US dollar.
Following US inflation data, market expectations for the possibility of further Federal Reserve rate hikes are expected to remain elevated, with the probability of a rate hike in December estimated at close to 80%. The ECB left interest rates unchanged but warned of the risk of higher energy prices, while the euro edged higher against the dollar. Market speculation concerning the Bank of Japan and the BOJ also continued.
In the domestic market, the US dollar buy rate was quoted at VND25,458 and the sell rate at VND25,998. Major commercial banks quoted buy and sell ranges of VND25,610–26,020, VND25,458–25,998 and VND25,645–26,025, respectively.
The yen weakened slightly against the dollar in response to developments in Europe and the US, while the New Zealand dollar showed signs of recovery after the Reserve Bank of New Zealand unexpectedly left rates unchanged. Domestic euro buy and sell rates edged up, but overall trading remained subdued.