DNVN - On October 17, 2024, the central exchange rate of the Vietnamese Dong against the USD increased by 10 VND, currently at 24,187 VND. The USD's increase is driven by many factors, including the Fed's policy outlook and the possibility of Donald Trump winning the upcoming election.
USD exchange rate on the world market
The Dollar Index (DXY), which measures the strength of the USD against six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose to 103.52 points, up 0.99 points from the trading session on October 16, 2024.
The US Federal Reserve’s continued interest rate cuts and the upcoming US presidential election were key factors influencing the market. The policies that former President Donald Trump was expected to implement, including tax cuts, loosening financial regulations and imposing high tariffs on trading partners, were seen as favorable for the US dollar. This pushed the value of the greenback to an 11-week high. Meanwhile, the euro continued to weaken, falling to an 11-week low ahead of the European Central Bank (ECB) meeting.
The euro rose more than 0.5% against the pound during the session to 83.62. The pound fell to a two-month low after weaker-than-expected UK inflation data raised the possibility of a more aggressive interest rate cut by the Bank of England.
The US dollar also rose 0.4% against the Japanese yen, hitting 149.765 yen, while the highest on October 14, 2024 was 149.98 yen.
Domestic USD exchange rate
On October 17, 2024, the USD continued to increase in value thanks to many favorable factors such as expectations about Fed policy and Donald Trump's ability to win the election, while inflationary pressure on the British pound also affected this trend.
In today's trading session, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 10 VND, currently reaching 24,187 VND. Commercial banks are allowed to trade within the range of 23,400 to 25,450 VND/USD. The buying and selling exchange rate of the State Bank's Exchange is also maintained in the range of 23,400 - 25,450 VND/USD.
At Vietcombank , the buying and selling USD exchange rate is at 24,780 - 25,170 VND. Currently, the buying and selling price of USD at commercial banks fluctuates from 24,000 - 25,500 VND/USD.
The EUR exchange rate at the State Bank of Vietnam slightly decreased, with the current buying and selling rates being 25,012 VND - 27,645 VND.
The Japanese yen exchange rate remains stable at the State Bank of Vietnam, currently at the buying and selling rates of 154 VND - 170 VND.
Hung Le (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-17-10-2024-vi-sao-dong-usd-dat-dinh-cao-nhat-trong-11-tuan/20241017091110558
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