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| Foreign exchange rates today, October 20: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... Tight financial conditions, the greenback slightly decreased. (Source: Reuters) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of October 20 was announced by the State Bank at 24,110 VND/USD, an increase of 10 VND/USD compared to yesterday, October 19.
Domestic market: At commercial banks on the morning of October 20, specifically as follows:
USD exchange rate for buying is 24,360 VND/USD, selling is 24,730 VND/USD.
EUR exchange rate for buying is 25,303 VND/EUR and selling is 26,692 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,335 VND/USD, selling is 24,635 VND/USD.
EUR exchange rate for buying is 25,419 VND/EUR; selling is 26,614 VND/EUR.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply for import and export from October 19-25 |
| 1 | EUR | Euro | 25,303.77 | 26,692.65 | 25,486.34 |
| 2 | JPY | Japanese Yen | 159.27 | 168.59 | 161.00 |
| 3 | GBP | British Pound | 29,017.74 | 30,252.79 | 29,353.75 |
| 4 | AUD | Australian Dollar | 15,109.52 | 15,752.61 | 15,363.61 |
| 5 | CAD | Canadian Dollar | 17,441.93 | 18,184.30 | 17,670.87 |
| 6 | RUB | Russian Ruble | 243.02 | 269.04 | 247.27 |
| 7 | KRW | Korean Won | 15.63 | 18.55 | 17.83 |
| 8 | INR | Indian Rupee | 294.54 | 306.33 | 289.52 |
| 9 | HKD | Hong Kong Dollar (China) | 3,060.23 | 3,190.48 | 3,079.95 |
| 10 | CNY | Chinese Yuan China | 3,289.40 | 3,429.92 | 3,298.65 |
(State Bank and commercial banks)
Exchange rate developments in the world market
In the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.31% to 106.25.
The greenback exchange rate in the world today decreased. The Japanese Yen increased.
Specifically, the greenback fell in the last trading session, after US Federal Reserve Chairman Jerome Powell expressed a dovish attitude through comments made at an economic forum, even as he warned that the US Central Bank could raise interest rates again.
Powell said the strength of the U.S. economy and continued tightening of the labor market could warrant further rate hikes. But he also noted that the recent rise in market-driven bond yields has caused financial conditions to tighten “significantly.”
“The Fed chair was quite cautious in leaving the door open to further tightening if the economic environment warrants it. I think it’s a pretty balanced message,” said Shaun Osborne, chief foreign exchange strategist at Scotiabank in Toronto, Canada.
Some Fed officials have noted the impact of rising Treasury yields in recent weeks, with the benchmark 10-year yield hitting a 16-year high of 4.996% on Oct. 19.
Markets expect the Fed to keep rates at current levels for the foreseeable future. According to CME Group's FedWatch Tool, Fed Funds futures are pricing in a 30% chance of a December rate hike, down from 39% before Powell's comments and no chance of a November rate hike.
The greenback’s rally has been building for some time, with the index up 6.7% since mid-July, and many investors have jumped at the opportunity to hold the currency. “There are quite a few investors who have bought the dollar, and that could prevent the dollar from rising further at this point,” said Serebrikov, a foreign exchange strategist at UBS in New York.
However, concerns about the conflict between Hamas and Israel remain a factor that could boost demand for safe-haven assets like the greenback.
In other developments, the Japanese Yen edged up in the last trading session, now hovering near the key level of 150. The currency closed the session at 149.85.
Source
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