Foreign exchange rates, USD/VND exchange rate today September 3: USD cools down

Foreign exchange rate, USD/VND exchange rate today, September 3, recorded USD cooling down, currently at 24,224 VND.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 09/03/2024 09:28 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,476.93	16,643.36	17,191.71
CANADIAN DOLLAR	CAD	17,972.86	18,154.40	18,752.53
SWISS FRANC	CHF	28,552.73	28,841.14	29,791.36
YUAN RENMINBI	CNY	3,431.90	3,466.56	3,581.31
DANISH KRONE	DKK	-	3,624.00	3,765.93
EURO	EUR	26,832.82	27,103.86	28,327.84
Sterling Pound	GBP	31,917.54	32,239.94	33,302.15
HONGKONG DOLLAR	HKD	3,106.12	3,137.50	3,240.87
INDIAN RUPEE	INR	-	295.45	307.52
YEN	JPY	166.07	167.74	175.91
KOREAN WON	KRW	16.11	17.90	19.55
KUWAITIAN DINAR	KWD	-	81,167.50	84,483.28
MALAYSIAN RINGGIT	MYR	-	5,690.78	5,819.77
NORWEGIAN KRONER	NOK	-	2,312.56	2,412.76
RUSSIAN RUBLE	RUB	-	258.81	286.74
SAUDI RIAL	SAR	-	6,604.07	6,873.85
SWEDISH KRONA	SEK	-	2,377.63	2,480.66
SINGAPORE DOLLAR	SGD	18,595.23	18,783.06	19,401.90
THAILAND	THB	648.89	720.99	749.22
US DOLLAR	USD	24,660.00	24,690.00	25,030.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:30 a.m. on September 3, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,224 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,385 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 24,660 VND - 25,030 VND.

Vietinbank : 24,570 VND - 25,020 VND.

Foreign exchange rates, USD/VND exchange rate today September 3, USD cools down. (Source: Reuters)

Exchange rate developments in the world market

The US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.04% to 101.64.

The US dollar eased slightly in the last trading session, but remained near its highest level in nearly two weeks, as investors focused on the US jobs report due later this week.

US payrolls data later this week will be crucial after Federal Reserve Chairman Jerome Powell shifted from fighting inflation to being ready to fight unemployment.

Analysts said the jobs data will determine the extent of the Fed's expected rate cut. Markets have priced in a 25 basis point cut.

The greenback earlier rose to its highest since Aug. 20, supported by a rise in long-term Treasury yields to their highest since mid-August as inflation data pointed to smaller rate cuts.

US gross domestic product figures also showed the economy is on solid footing, supporting the case for the Fed to ease policy more gently.

Traders are betting on a 33% chance the Fed will cut rates by 50 basis points this month, while fully pricing in a 25 basis point cut.

“We expect the dollar to weaken in the second half of the year,” said Athanasios Vamvakidis, global head of foreign exchange strategy at BofA. “The U.S. economy is slowing but is still doing much better than the rest of the world.”

The DXY index cooled after reaching 101.79, its highest level since August 20.

Last week, the currency fell to a low of 100.51 for the first time since July 2023, after Fed Chairman Powell sent a strong message that a monetary easing campaign would begin at the upcoming policy meeting.

In contrast, the EUR rose 0.2% to $1.1060, after touching $1.1043, its lowest since August 19.

Money markets have reduced bets on the European Central Bank (ECB) cutting interest rates as August services inflation remained high and ECB policymakers gave no clues about further monetary policy easing.

The market has priced in 59 basis points of rate cuts by year-end and a 36% chance of a third cut.

In a Reuters survey, economists forecast 165,000 jobs were added in the US in August, up from 114,000 the previous month.

Analysts said the data supported the Fed's decision to ease its monetary policy by another 25 basis points this month.

The US dollar rose 0.40% to 146.74 yen.

Analysts argue that it is difficult to see the US dollar gaining against the Yen at a time when the Fed is about to cut interest rates.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-39-dong-usd-ha-nhiet-284790.html