The yen exchange rate differential has reached its highest level since 2008.

What is the exchange rate of 1 USD to VND today?

The State Bank of Vietnam's USD exchange rate is 24,003 VND.

The current USD exchange rate at Vietcombank is 24,590 VND - 24,960 VND (buying rate - selling rate).

The current Euro exchange rate is 26,236 VND - 27,676 VND (buying rate - selling rate).

The current exchange rate for the Japanese Yen is 158.65 VND - 167.92 VND (buying rate - selling rate).

The current exchange rate for the British Pound is 30,601 VND - 31,903 VND (buying rate - selling rate).

The exchange rate for the Chinese Yuan today is 3,372 VND - 3,406 VND (buying rate - selling rate).

Today's USD exchange rate

The US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), recorded a level of 103.94 points.

The Bank of Japan recently announced a historic change by moving away from negative short-term interest rates and long-term interest rate caps. Following this event, the yen exchange rate recorded 151.63 per dollar.

The US Federal Reserve kept interest rates unchanged at 5.25% to 5.5%, and anticipates three further cuts by the end of the year. However, the Fed needs more evidence to believe that US inflation is on track to sustainably fall to 2%. Market estimates currently suggest the Fed will cut rates by 80 basis points this year.

Patrick Hu, G10 currency expert at Citi, said: “With this adjustment and valuation based on the number of Fed rate cuts, we see the USD potentially being supported again. That’s why the yen against the USD is widening.”

The USD/JPY exchange rate has risen by as much as 1.6% this week, prompting forex markets to seek other currencies to take profits.

The EUR/JPY exchange rate reached its highest level since 2008, at 165.37. The AUD/JPY exchange rate also surpassed the 100 mark for the first time since 2014.

The British pound fell after the Bank of England kept interest rates unchanged. The GBP/USD exchange rate widened by another 0.6% to 1.2661.

The USD Index recorded a 0.5% increase to 103.94 – its second consecutive week of gains.

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