Foreign exchange price on October 18, 2024: USD continues to increase in price

DNVN - On October 18, 2024, the central exchange rate of the Vietnamese Dong against the USD increased by 12 VND, reaching 24,199 VND. The USD just set a new record in 11 weeks after US retail sales increased in September.

USD exchange rate on the world market

The Dollar Index (DXY), which measures the value of the USD against six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), closed at 103.77 points, up 0.25 points from the transaction on October 17, 2024.

The US dollar climbed to a fresh 11-week high after data showed US retail sales rose in September, reinforcing expectations that the US Federal Reserve will continue to cut interest rates in a dovish manner in the coming time, thanks to the stability of the world's largest economy .

Against the Japanese Yen, the USD hit 150 yen for the first time since August 1. At the end of the trading session, the USD increased by 0.4% to 150.24 yen.

The DXY index during the trading session touched 103.87 at one point - the highest level since August 2, 2024.

“With better-than-expected data, the US dollar is continuing its strong rally. The US dollar weakened when the Fed cut interest rates by 50 basis points in September, but now the impact has been adjusted,” said Eugene Epstein, a representative of Moneycorp in New York, USA.

Data released on October 17 showed that US retail sales rose 0.4% in September, after rising just 0.1% in August. A Reuters poll predicted a 0.3% increase, but the actual increase beat expectations.

Another report from the US Labor Department said initial jobless claims in the states fell by 19,000 to a seasonally adjusted 241,000 last week, despite the impact of natural disasters and a month-long strike at Boeing that negatively affected the labor market.

Domestic USD exchange rate

The State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 12 VND, to 24,199 VND in the opening session today, October 18, 2024.

Commercial banks are currently allowed to trade USD exchange rates within the range of 23,400 to 25,450 VND/USD. At the State Bank of Vietnam, the USD buying and selling range is also set at 23,400 to 25,450 VND/USD.

The USD exchange rate at Vietcombank is currently listed at 24,980 - 25,370 VND for buying and selling, an increase of 200 VND in both directions compared to the previous trading session. The USD buying and selling prices are currently in the range of 24,000 - 25,500 VND/USD.

The EUR exchange rate at the State Bank of Vietnam recorded a slight decrease, currently at 24,970 VND for buying and 27,598 VND for selling.

The Japanese Yen exchange rate at the State Bank of Vietnam remains unchanged, currently maintained at 154 VND for buying and 170 VND for selling.

Lan Le (n/t)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-18-10-2024-usd-tiep-da-tang-gia/20241018080842584