Domestic USD increases, world USD turns to decrease

Foreign exchange rates, USD/VND exchange rate today, September 25, recorded the USD going down after newly released data showed that US consumer confidence unexpectedly dropped sharply.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: September 25, 2024 12:57 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,493.14	16,659.73	17,195.13
CANADIAN DOLLAR	CAD	17,821.83	18,001.85	18,580.38
SWISS FRANC	CHF	28,428.96	28,716.12	29,638.98
YUAN RENMINBI	CNY	3,419.36	3,453.90	3,565.44
DANISH KRONE	DKK	-	3,616.10	3,754.78
EURO	EUR	26,769.35	27,039.75	28,238.69
Sterling Pound	GBP	32,096.43	32,420.64	33,462.55
HONGKONG DOLLAR	HKD	3,074.11	3,105.16	3,204.95
INDIAN RUPEE	INR	-	292.92	304.65
YEN	JPY	165.43	167.10	175.06
KOREAN WON	KRW	16.01	17.79	19:30
KUWAITIAN DINAR	KWD	-	80,344.73	83,561.34
MALAYSIAN RINGGIT	MYR	-	5,913.59	6,042.90
NORWEGIAN KRONER	NOK	-	2,312.83	2,411.15
RUSSIAN RUBLE	RUB	-	251.76	278.71
SAUDI RIAL	SAR	-	6,526.01	6,787.28
SWEDISH KRONA	SEK	-	2,383.69	2,485.03
SINGAPORE DOLLAR	SGD	18,649.79	18,838.17	19,443.58
THAILAND	THB	665.85	739.83	768.20
US DOLLAR	USD	24,350.00	24,380.00	24,720.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 9:00 a.m. on September 25, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,141 VND, an increase of 4 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,330 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 24,400 VND - 24,770 VND.

Vietinbank: 24,300 VND - 24,800 VND.

Foreign exchange rates, USD/VND exchange rate today, September 25, domestic USD increases, world USD turns to decrease. (Source: Getty Images)

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) decreased by 0.50% to 100.35.

The DXY index fell again in the last trading session, after new data showed a sharp decline in US consumer confidence. Meanwhile, Federal Reserve officials are also expressing a "hawkish" view on the upcoming interest rate cut roadmap.

The US economy is sending mixed signals, suggesting both a recession and a recovery. Economic activity appears to be slowing, but some sectors are still growing quite strongly. The Fed has indicated that interest rate policy will be driven by economic data, meaning the pace of rate adjustments will depend on incoming information.

Accordingly, US consumer confidence unexpectedly fell sharply in September, falling below expectations at 98.7. In that context, the market predicts that the Fed will "aggressively" loosen interest rates, with a cut of 75 basis points by the end of the year, and about 175-200 basis points next year.

Some Fed officials, such as Fed Board of Governors member Michelle Bowman, disagreed with the recent 50 basis point rate cut, warning that a larger cut could hamper the fight against inflation. She highlighted ongoing inflation risks, including supply chain disruptions and fiscal policy...

Meanwhile, other Fed officials, such as Raphael Bostic of the Federal Reserve Bank of Atlanta and Austan Goolsbee of the Federal Reserve Bank of Chicago, expressed concerns about the labor market but still supported faster rate cuts.

The market is 100% discounting a 25 basis point rate cut at the Fed's November 6-7 policy meeting and betting 59% on a 50 basis point rate cut at that meeting. In addition, the market continues to bet heavily on a 75 basis point cut between now and the end of the year.

Another factor weighing on the dollar's gains is that the benchmark US 10-year yield has fallen from its September high, currently trading at 3.75%.

On the other hand, the euro edged up slightly in the last trading session, boosted by a weaker dollar. In addition, hawkish comments from European Central Bank (ECB) Governing Council member Muller boosted the euro, as he said ECB policymakers may not have enough data to make a rate decision in October. Also negative for the euro was a larger-than-expected drop in German business confidence in September to an eight-month low.

ECB Governing Council member Muller said ECB policymakers may have a difficult time deciding on interest rates in October, but it will be easier to decide in December because then we will have a full picture of the eurozone economy.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-259-usd-trong-nuoc-tang-the-gioi-quay-dau-giam-287396.html