On the morning of October 8, the USD price at commercial banks recorded a week of increase. Specifically, Eximbank bought at 24,130 VND and sold at 24,530 VND, an increase of 70 VND compared to the end of last week. Similarly, Vietcombank added 90 VND after a week, bringing the buying price to 24,180 VND and the selling price to 24,550 VND.
The euro was bought by Vietcombank at 25,016 VND and sold at 26,389 VND, down 73 - 77 VND compared to the end of last week. However, the Japanese yen increased in price when Vietcombank bought at 159.03 VND and sold at 168.34 VND, up 0.34 VND on the buying side and up nearly 9 VND on the selling side compared to the end of last week...
USD prices in commercial banks increased simultaneously this week
In contrast to domestic banks, the international USD price turned down. The USD-Index reached 106.09 points, down 0.8 points compared to the end of last week. The Japanese Yen also continued to decrease compared to the end of last week when 1 USD is currently converted to 149.33 yen while the euro increased slightly compared to the USD when 1 euro is currently converted to 1.0583 USD...
The 10-year and 30-year US government bonds both rose to 4.887% above 5% - both the highest levels since 2007, keeping the greenback anchored high. That reinforced investors' expectations that the US Federal Reserve (Fed) will have an interest rate hike this year.
The real yield on the 10-year Treasury note — a measure of how much investors can earn on government bonds after adjusting for inflation — hit 2.47% on Tuesday, the highest in nearly 15 years, according to data from the U.S. Treasury Department. That has led many investors to want to hold more dollars. The dollar is now up 7% from its 2023 low against a basket of currencies and at its highest level in 10 months.
Meanwhile, the European Central Bank (ECB) is expected to maintain its current interest rate at 4.50% at its upcoming meeting in late October. ECB Governing Council member Mario Centeno has just said that inflation in the eurozone is falling faster than it has risen, implying that the rate hike cycle may have come to an end in current economic conditions.
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