DNVN - On October 12, 2024, the central exchange rate between the Vietnamese Dong and the USD increased by 3 VND, currently at 24,175 VND. The USD Index (DXY) today stood at 102.91 points.
USD exchange rate developments in the international market
The Dollar Index (DXY), which measures the value of the USD against six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), reached 102.91 points, up slightly by 0.02 points compared to the trading session on October 11, 2024.
The US dollar remained stable against major currencies in the last trading session, as the market received important economic data supporting the US Federal Reserve's monetary policy direction. The US Labor Department reported that US producer prices were unchanged in September, creating a basis for the possibility that the Fed will continue to cut interest rates next month. Specifically, consumer prices in September increased by 0.3%, slightly more than expected, while the number of weekly unemployment claims increased sharply, indicating signs of weakness in the labor market. These figures were partly affected by Hurricane Helene, and next week's data may continue to be affected by Hurricane Milton, the second storm to hit the Southeast in two weeks.
The euro held steady at $1.1093, while the pound rose 0.08 percent to $1.3072. The dollar also rose 0.35 percent against the Japanese yen, trading at $149.12.
The DXY index held steady at 102.92 points, after surging above 103 on October 10 - its highest level since mid-August. The rise reflects traders' reduced expectations that the Fed will make major rate cuts at its remaining meetings this year.
According to CME's FedWatch tool, the market is now betting on a 91% chance the Fed will cut rates by 25 basis points at its upcoming meeting, and just a 9% chance of keeping rates unchanged.
"Short-term US bond yields have had a big impact on the direction of the US dollar recently," said Forex.com financial expert David Scutt. "High interest rates have helped strengthen the US dollar, but as the 2-year US Treasury yield starts to show signs of decline, we could see both bond yields and the US dollar stall."
"The latest US consumer price index (CPI) data reinforced expectations for a 25 basis point rate cut by the Fed following upbeat non-farm payrolls data. However, expectations for aggressive easing have faded as the USD index stabilized below 103. With global economic uncertainty and geopolitical tensions, the USD index and gold remain bullish," said Razan Hilal, market analyst at Forex.com.
Domestic USD exchange rate
The USD exchange rate today, October 12, 2024, continued to increase against other major currencies as traders considered economic data from the US.
In this morning's trading session, the State Bank announced the central exchange rate between the Vietnamese Dong and the USD at 24,175 VND, unchanged from the previous day. The exchange rate at commercial banks fluctuated from 23,400 - 25,450 VND/USD. The State Bank's Transaction Office offered the USD buying and selling rates from 23,400 to 25,450 VND/USD.
At Vietcombank, the current USD buying price is 24,610 VND, and the selling price is 25,000 VND. The USD exchange rate currently fluctuates between 24,000 - 25,500 VND/USD.
The EUR exchange rate at the State Bank of Vietnam decreased slightly, currently listed at 25,115 VND for buying and 27,758 VND for selling. Meanwhile, the Japanese Yen exchange rate increased slightly, buying at 155 VND and selling at 171 VND.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-12-10-2024-usd-on-dinh-chi-so-dxy-dat-102-91-diem/20241012075623537
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