The US economy is driving the rapid rise of the USD.

Foreign exchange rates, specifically the USD/VND exchange rate today, October 24th, show the US dollar on track to achieve its 16th increase in 18 sessions and its fourth consecutive weekly gain.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 24/10/2024 09:28 - Time of source website update
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,440.01	16,606.08	17,138.80
CANADIAN DOLLAR	CAD	17,912.93	18,093.87	18,674.33
SWISS FRANCE	CHF	28,583.37	28,872.09	29,798.31
YUAN RENMINBI	CNY	3,475.64	3,510.75	3,623.37
DANISH KRONE	DKK	But	3,607.43	3,745.57
EURO	CZ	26,710.07	26,979.87	28,174.60
POUND STERLING	GBP	32,001.08	32,324.33	33,361.30
HONG KONG DOLLAR	HKD	3,187.58	3,219.78	3,323.07
INDIAN RUPEE	INR	But	301.42	313.47
YEN	rush	160.64	162.26	169.98
Korean Won	KRW	15.91	17.68	19.19
KUWAITI DINAR	KWD	But	82,781.19	86,090.60
MALAYSIAN RINGGIT	MYR	But	5,785.64	5,911.82
NORWEGIAN KRONER	NOK	But	2,270.33	2,366.72
RUSSIAN RUBLE	RUB	But	251.90	278.85
SAUDI RIAL	SAR	But	6,747.80	7,017.56
SWEDISH KRONA	SEK	But	2,352.09	2,451.95
SINGAPORE DOLLAR	SGD	18,739.79	18,929.08	19,536.33
THAILAND BAHT	THB	664.70	738.56	766.84
US DOLLAR	cau	25,203.00	25,233.00	25,473.00

Exchange rate movements in the domestic market

On the domestic market, according to TG&VN 's report at 7:50 AM on October 24th, the State Bank of Vietnam announced the central exchange rate of the Vietnamese Dong against the US Dollar at 24,240 VND.

The reference USD exchange rate listed at the State Bank of Vietnam's Exchange Department is: 23,400 VND - 25,402 VND.

The USD exchange rates at commercial banks for buying and selling are as follows:

Vietcombank: 25,062 - 25,452 VND

Vietinbank : 25,070 - 25,452 VND.

Foreign exchange rates, USD/VND exchange rate today, October 24th: US economy 'drives' USD to rise rapidly. (Source: Getty Images)

Exchange rate movements in the global market.

Meanwhile, in the US market, the US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 104.42, up 0.35%.

The US dollar has risen above 153 against the Japanese yen for the first time in nearly three months, driven by the strength of the US economy and the divergence in the pace of interest rate cuts by major central banks.

The greenback is on track for its 16th gain in 18 sessions and its fourth consecutive weekly gain as a series of positive economic data dampened expectations about the size and pace of interest rate cuts from the Federal Reserve, which pushed US Treasury yields higher.

The yield on the benchmark 10-year U.S. Treasury bond rose 3.4 basis points to 4.24%, after hitting a three-month high of 4.26%. Following five consecutive months of declines, the 10-year yield has risen by approximately 40 basis points in October.

Investors are also awaiting the US presidential election, which will take place on November 5th.

The DXY index briefly touched 104.57, its highest level since July 30th.

The euro fell 0.18% to $1.0778 after dropping to $1.076, its lowest level since July 3. The British pound weakened 0.49% to $1.2919.

Recent comments from Fed officials suggest the central bank will take a gradual approach to interest rate cuts.

The market is currently pricing in an 88.9% probability that the Fed will cut interest rates by 25 basis points at its November meeting, with an 11.1% probability that the central bank will keep interest rates unchanged, according to CME's FedWatch tool.

The upcoming US presidential election is also continuing to drive currency movements, as market expectations have risen in recent days for a victory by the Republican presidential candidate and former President Donald Trump, which could potentially lead to policies such as tariffs.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-2410-kinh-te-my-day-thuyen-usd-tang-nhanh-291096.html