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| Foreign exchange rates today, September 7: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... US economy grows moderately, greenback increases slightly. (Source: Reuters) |
The central exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of September 7 was announced by the State Bank at 23,979 VND/USD, down 12 VND compared to yesterday.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply for import and export from September 7-13 |
| 1 | EUR | Euro | 25,143.45 | 26,550.27 | 25,739.94 |
| 2 | JPY | Japanese Yen | 159.02 | 168.36 | 162.98 |
| 3 | GBP | British Pound | 29,455.10 | 30,709.83 | 30,137.49 |
| 4 | AUD | Australian Dollar | 14,940.79 | 15,577.24 | 15,325.45 |
| 5 | CAD | Canadian Dollar | 17,177.08 | 17,908.79 | 17,590.00 |
| 6 | RUB | Russian Ruble | 236.52 | 261.85 | 246.66 |
| 7 | KRW | Korean Won | 15.61 | 19.03 | 18.02 |
| 8 | INR | Indian Rupee | 288.92 | 300.49 | 288.80 |
| 9 | HKD | Hong Kong Dollar (China) | 2,989.06 | 3,116.39 | 3,059.10 |
| 10 | CNY | Chinese Yuan China | 3,257.00 | 3,365.00 | 3,282.84 |
(Source: State Bank, Vietcombank )
Exchange rate developments in the world market
In the US market, the US Dollar Index (DXY), which measures the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), increased by 0.03% to 104.83.
The greenback exchange rate in the world today increased slightly, the European currency decreased.
The greenback rose to a six-month high on Thursday after US data showed the services sector unexpectedly accelerated last month amid rising new orders and persistent inflationary pressures.
The Institute for Supply Management's (ISM) non-manufacturing PMI rose to 54.5 last month, the highest since February and up from 52.7 in July, data showed. Economists polled by Reuters had forecast the non-manufacturing PMI would fall to 52.5.
“The U.S. economy remains more resilient than most of the rest of the G10 and is less likely to fall into recession,” said Helen Given, a foreign exchange trader at Monex USA in Washington. “With the U.K. and eurozone economies on the brink of recession, investors really have little choice but to put their faith in the U.S. economy.”
The market is betting that interest rates will stay high for longer, although it does not change expectations that the Federal Reserve will pause its rate hikes at its meeting later this month. According to CME's FedWatch, the probability of a rate hike is 48.4% and 46.6% for the November and December policy meetings, respectively.
However, Fed officials in the past two days have struck a dovish tone suggesting the US central bank could pause rate hikes for the next few meetings to further assess the impact of tightening monetary policy on economic data.
Boston Fed President Susan Collins said on September 6 that the central bank would be more cautious in its next monetary policy decision. Also on September 6, the Fed released a book that provided an overview of the US economy, showing moderate economic growth in recent weeks, with inflation slowing in most parts of the country.
The greenback recovered against most currencies.
Elsewhere, the euro and sterling hit three-month lows, while the yen hit a session low. However, the U.S. currency fell slightly in afternoon trade on lower volume. The DXY index closed at 104.84, after hitting a six-month high of 105.03.
The euro and sterling fell to three-month lows after the data, while the Japanese yen strengthened to 147.02 per dollar.
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