USD is "boosted", EUR weakens

Foreign exchange rates, USD/VND exchange rate today, October 3, recorded that the USD is benefiting from safe-haven demand due to concerns about escalating tensions in the Middle East.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 10/03/2024 06:57 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,567.58	16,734.93	17,272.63
CANADIAN DOLLAR	CAD	17,818.83	17,998.82	18,577.13
SWISS FRANC	CHF	28,406.47	28,693.40	29,615.33
YUAN RENMINBI	CNY	3,440.25	3,475.00	3,587.19
DANISH KRONE	DKK	-	3,593.53	3,731.32
EURO	EUR	26,607.08	26,875.84	28,067.32
Sterling Pound	GBP	31,936.66	32,259.25	33,295.75
HONGKONG DOLLAR	HKD	3,093.84	3,125.09	3,225.50
INDIAN RUPEE	INR	-	292.76	304.48
YEN	JPY	165.78	167.46	175.47
KOREAN WON	KRW	16.17	17.96	19.49
KUWAITIAN DINAR	KWD	-	80,461.01	83,681.72
MALAYSIAN RINGGIT	MYR	-	5,859.24	5,987.31
NORWEGIAN KRONER	NOK	-	2,289.28	2,386.59
RUSSIAN RUBLE	RUB	-	248.62	275.23
SAUDI RIAL	SAR	-	6,549.65	6,811.82
SWEDISH KRONA	SEK	-	2,356.20	2,456.36
SINGAPORE DOLLAR	SGD	18,654.57	18,843.00	19,448.43
THAILAND	THB	664.89	738.76	767.09
US DOLLAR	USD	24,450.00	24,480.00	24,820.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:00 a.m. on October 3, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,094 VND, an increase of 13 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,248 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 24,450 VND - 24,820 VND

Vietinbank: 24,320 VND - 24,820 VND

Foreign exchange rates, USD/VND exchange rate today, October 3: USD is 'reinforced', EUR weakens. (Source: New York Post)

Exchange rate developments in the world market

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.41%, reaching 101.60.

The dollar hit a three-week high against the euro after the ADP national employment report showed that U.S. private payrolls rose more than expected in September. The greenback, in particular, benefited from safe-haven demand due to concerns about escalating tensions in the Middle East.

The ADP National Employment Report released on October 2 showed private payrolls increased by 143,000 jobs in September, after increasing by 103,000 jobs in August. Economists polled by Reuters had forecast an increase of 120,000 jobs.

In a separate Reuters poll, economists also forecast the September nonfarm payrolls report is expected to show employers added 140,000 jobs in the month, while the unemployment rate remained steady at 4.2%.

Improved economic data and more hawkish comments from Federal Reserve Chairman Jerome Powell earlier in the week boosted the dollar and prompted traders to reduce bets that the US central bank will cut interest rates by another 50 basis points at its policy meeting next month.

Traders are now pricing in a 35% probability of a 50 basis point cut at the Fed's Nov. 6-7 meeting, down from 57% a week ago, according to CME Group's FedWatch tool.

Richmond Fed President Thomas Barkin said last month's 50 basis point cut was not a sign that the war on inflation was over.

In contrast, the euro fell 0.27 percent to $1.1037, its lowest since the same day. The common European currency has weakened on growing expectations that the European Central Bank (ECB) will cut interest rates later this month as inflation cools.

Euro zone inflation is increasingly likely to fall back to the ECB's 2% target, ECB Governing Council member Isabel Schnabel said, warning of the difficulties in reining in price growth.

Foreign exchange rate update table - Vietcombank USD exchange rate today

Exchange rate developments in the domestic market

Exchange rate developments in the world market

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