dollar price rises

Vietnam stocks-dollar prices rise

In the first week of 2024 (January 2-5, 2024), due to better-than-expected U.S. labor market data, the price of the U.S. dollar rose again in the international market, reducing expectations that the Federal Reserve will cut interest rates multiple times this year.

In the international market, the U.S. dollar index rose 1.1 points to 102.43 points a week later.

The much-anticipated U.S. Department of Labor report showed that the non-farm economic sector created more jobs than expected in December, with 216,000 new jobs, exceeding the 170,000 expected by experts. Opinion polls.

These data show that the labor market remains tight, which means that the economy remains strong and reduces expectations that the Federal Reserve will cut interest rates sharply early in 2024, causing the dollar to appreciate again.

Domestically, the central parity rate of Vietnamese Dong against the U.S. dollar increased by 66 VND/USD from last week (December 29th session) to 23,932 VND/USD as of January 5, 2024.

The State Bank (SBV) kept the spot purchase price unchanged at 23,400 VND/USD. At the same time, operators increased the spot selling price by VND69/USD from December 29 to VND25,078/USD.

Meanwhile, Vietcombank (HM:)’s quoted exchange rate increased by VND110/USD in both directions to 24,160 VND/USD (buy) and 24,530 VND/USD (sell).

At the same time, the free market exchange rate fell by VND20/USD on the buyer’s side, but increased by VND30/USD on the seller’s side, reaching 24,700 VND/USD (buying) and 24,800 VND/USD (selling). ).

Kandi