USD exchange rate today August 31, 2024: USD increases sharply

USD/VND exchange rate today August 31, 2024 in the domestic market

USD exchange rate today August 31, 2024, USD VCB is flat, meanwhile, USD increased strongly when inflation data reinforced the Fed's interest rate cut.

The central VND/USD exchange rate today (August 31) was announced by the State Bank of Vietnam (SBV) at 24,221 VND/USD, unchanged compared to the trading session on August 30.

Currently, the permitted exchange rate of commercial banks fluctuates from 23,400 - 25,450 VND/USD. The USD exchange rate has also been brought to the buying and selling range of 23,400 to 25,450 VND/USD by the State Bank of Vietnam.

The bank USD exchange rate, foreign exchange rate and domestic USD price this morning recorded an increase at banks. Specifically, Vietcombank has a buying price of 24,660 and a selling price of 25,030, unchanged in the buying price compared to the selling price compared to the trading session on August 30. The current USD buying and selling prices are in the range of 24,000 - 25,500 VND/USD.

1. VCB – Updated: 08/31/2024 05:00 – Time of the source website
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,476.93	16,643.36	17,191.71
CANADIAN DOLLAR	CAD	17,972.86	18,154.40	18,752.53
SWISS FRANC	CHF	28,552.73	28,841.14	29,791.36
YUAN RENMINBI	CNY	3,431.90	3,466.56	3,581.31
DANISH KRONE	DKK	–	3,624.00	3,765.93
EURO	EUR	26,832.82	27,103.86	28,327.84
Sterling Pound	GBP	31,917.54	32,239.94	33,302.15
HONGKONG DOLLAR	HKD	3,106.12	3,137.50	3,240.87
INDIAN RUPEE	INR	–	295.45	307.52
YEN	JPY	166.07	167.74	175.91
Korean Won	KRW	16.11	17.90	19.55
KUWAITIAN DINAR	KWD	–	81,167.50	84,483.28
MALAYSIAN RINGGIT	MYR	–	5,690.78	5,819.77
NORWEGIAN KRONER	NOK	–	2,312.56	2,412.76
RUSSIAN RUBLE	RUB	–	258.81	286.74
SAUDI RIAL	SAR	–	6,604.07	6,873.85
SWEDISH KRONA	SEK	–	2,377.63	2,480.66
SINGAPORE DOLLAR	SGD	18,595.23	18,783.06	19,401.90
THAILAND	THB	648.89	720.99	749.22
US DOLLAR	USD	24,660.00	24,690.00	25,030.00

2. Agribank – Updated: 01/01/1970 08:00 – Time of website source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	24,700.00	24,710.00	25,050.00
EUR	EUR	27,024.00	27,133.00	28,258.00
GBP	GBP	32,139.00	32,268.00	33,263.00
HKD	HKD	3,126.00	3,139.00	3,244.00
CHF	CHF	28,808.00	28,924.00	29,825.00
JPY	JPY	167.38	168.05	175.81
AUD	AUD	16,597.00	16,664.00	17,177.00
SGD	SGD	18,752.00	18,827.00	19,382.00
THB	THB	713.00	716.00	748.00
CAD	CAD	18,104.00	18,177.00	18,730.00
NZD	NZD		15,351.00	15,863.00
KRW	KRW		17.86	19.71

3. Sacombank – Updated: 04/25/2002 07:16 – Time of website source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	24710	24710	25050
AUD	AUD	16733	16783	17285
CAD	CAD	18255	18305	18756
CHF	CHF	29082	29132	29686
CNY	CNY	0	3474.7	0
CZK	CZK	0	1060	0
DKK	DKK	0	3713	0
EUR	EUR	27321	27371	28074
GBP	GBP	32561	32611	33263
HKD	HKD	0	3185	0
JPY	JPY	169.55	170.05	175.56
KHR	KHR	0	6,032	0
KRW	KRW	0	18.3	0
LAK	LAK	0	0.993	0
MYR	MYR	0	5887	0
NOK	NOK	0	2368	0
NZD	NZD	0	15375	0
PHP	PHP	0	410	0
SEK	SEK	0	2440	0
SGD	SGD	18900	18950	19501
THB	THB	0	692.9	0
TWD	TWD	0	772	0
XAU	XAU	8000000	8000000	8100000
XBJ	XBJ	7300000	7300000	7620000

In the "black market", the black market USD exchange rate as of 5:30 a.m. on August 31, 2024 is as follows:

Black market on August 31, 2024. Photo: Chogia.vn

USD exchange rate today August 31, 2024 on the world market

The Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 101.73 points, up 0.35 points compared to the transaction on August 30, 2024.

USD (DXY) exchange rate developments in recent days (Source: Investing)

The dollar rose sharply on Wednesday after data showed a key measure of inflation matched forecasts, while personal spending and income rose, supporting expectations the Federal Reserve will likely cut interest rates by another 25 basis points next month, instead of 50 basis points.

Some market participants had expected a larger cut next month on the view that the Fed is lagging in easing policy and should catch up.

LSEG calculations showed US interest rate futures on Friday implied a 31% chance of a 50 basis point rate cut next month, down from Thursday's 35% probability, with markets fully pricing in the Fed's first easing in more than four years at its September meeting.

The market has also priced in a cut of around 100 basis points by the end of 2024.

The dollar rose 0.8% to 146.09 yen after the inflation data, its biggest daily gain in two weeks. The dollar rose 1.2% for the week, heading for its biggest weekly gain since mid-June.

But the greenback still fell 2.6% in August, its second straight monthly decline against the Japanese currency.

Data today showed the personal consumption expenditures (PCE) price index rose 0.2% last month, in line with expectations, after an unadjusted 0.1% gain in June. In the 12 months through July, the PCE price index rose 2.5%, matching June's gain.

Consumer spending also rose 0.5% last month after rising 0.3% in June.

“ We’re clearly going to cut rates and I think whether it’s 25 or 50 is up for debate and it all depends on next week’s jobs data,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “ I see three cuts and I see a half-percentage point cut in September, depending on the jobs data. If not, it’s a 25 basis point cut in September and then a 50 basis point cut in December .”

The dollar index, which measures the greenback against six major currencies, rose to a 10-day high after the inflation data and was up 0.3% at 101.7. For the week, the index rose 1%, on track for its best weekly performance since early April.

However, this month, the index fell 2.6%, the weakest since November last year.

Overall, the US dollar continued to benefit from inflows at the end of the month, after being sold off after Fed Chairman Jerome Powell at the Jackson Hole meeting last week gave the clearest signal yet that the US central bank would cut interest rates at its September meeting.

Separate economic reports showed the University of Michigan’s monthly consumer sentiment survey rose to 67.9 in August from an eight-month low of 66.4 in July, breaking a four-month slide. The survey showed U.S. consumers see inflation continuing to moderate over the coming year, with a gauge of price growth expectations released Friday at its lowest August reading since late 2020.

The US dollar pared gains after the report.

In other currencies, the euro fell 0.2% to $1.1050 against the dollar. The currency has fallen 1.3% this week, heading for its biggest weekly loss since April.

Still, the euro rose 2.1% in August, its best monthly gain since November 2023, while the European Central Bank remains on track to cut interest rates again next month.

The common currency fell to its lowest in more than a week on Thursday and closed down 0.4% after German inflation fell more than expected, reinforcing investors' expectations that the ECB will cut interest rates.

China’s yuan rose to a 14-month high against the dollar, its biggest monthly gain since November, amid growing corporate demand for the Chinese currency as expectations of a U.S. interest rate cut grew.

The onshore yuan strengthened to 7.0825 yuan per dollar before settling at 7.0920 yuan, on track to gain about 1.9 percent in August.

USD exchange rate on August 31, 2024. Illustration photo

Refer to the popular addresses for Foreign Currency Exchange - Buying and Selling USD in Hanoi:

1. Quoc Trinh Ha Trung Gold Shop – No. 27 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

2. Gold and Silver Fine Arts – No. 31 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

3. Minh Chien Jewelry Store – No. 119 Cau Giay, Cau Giay District, Hanoi

4. Thinh Quang Gold and Silver Company – No. 43 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

5. Toan Thuy Store – No. 455 Nguyen Trai, Thanh Xuan, Hanoi and No. 6 Nguyen Tuan, Thanh Xuan District, Hanoi

6. Bao Tin Minh Chau Gold, Silver and Gemstones – No. 19 Tran Nhan Tong, Hai Ba Trung District, Hanoi

7. Chinh Quang Store – No. 30 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

8. Kim Linh 3 Store – No. 47 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

9. Huy Khoi Store – No. 19 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

10. System of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB

Refer to the popular addresses for Foreign Currency Exchange - Buying and Selling USD in Ho Chi Minh City:

1. Minh Thu Currency Exchange – 22 Nguyen Thai Binh, District 1, HCMC

2. Kim Mai Gold Shop – 84 Cong Quynh, District 1, HCMC

3. Kim Chau Gold Shop – 784 Dien Bien Phu, Ward 10, District 10. Ho Chi Minh City

4. Saigon Jewelry Center – 40-42 Phan Boi Chau, District 1, HCMC

5. Kim Hung foreign currency exchange agency - No. 209 Pham Van Hai, Binh Chanh, Ho Chi Minh City

6. DOJI Jewelry Store – Diamond Plaza Le Duan, 34 Le Duan, Ben Nghe, District 1, HCMC

7. Kim Tam Hai Shop – No. 27 Truong Chinh, Tan Thoi Nhat Ward, District 12, HCMC

8. Bich Thuy Gold Shop – No. 39 Pham Van Hai Market, Ward 3, Tan Binh District, HCMC

9. Ha Tam Gold Shop – No. 2 Nguyen An Ninh, Ben Thanh Ward, District 1, HCMC

10. System of transaction offices at banks in Ho Chi Minh City such as: Sacombank, VietinBank, Vietcombank, SHB, Eximbank

Source: https://congthuong.vn/ty-gia-usd-hom-nay-3182024-dong-usd-tang-manh-342612.html