USD, EUR, Japanese Yen, British Pound, exchange rates... greenback increases for 6 consecutive weeks

Foreign exchange rates today, August 28: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... no interest rate cut, greenback continues to increase, Euro decreases.

Tỷ giá ngoại tệ hôm nay 28/8: Tỷ giá USD, EUR, CAD, Yen Nhật, Bảng Anh, tỷ giá hối đoái... Không có chuyện cắt giảm lãi suất, đồng bạc xanh tiếp tục t

Foreign exchange rates today, August 28: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... No interest rate cuts, the greenback continues to rise. (Source: Reuters)

The central exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of August 28 was announced by the State Bank at 23,960 VND/USD, an increase of 18 VND compared to last Friday (23,942).

With the +/- 5% margin currently applied, the ceiling rate applied by banks today is 25,139 VND/USD and the floor rate is 22,744 VND/USD.

At commercial banks, this morning, August 28, the price of USD and Chinese Yuan (CNY) increased together.

At 8:15 a.m., the USD price at Vietcombank was listed at 23,820 - 24,190 VND/USD (buy - sell), an increase of 40 VND in both buying and selling compared to the end of last week.

The listed CNY price is 3,227 - 3,365 VND/CNY (buy - sell), an increase of 4 VND in the buying price and 5 VND in the selling price compared to the end of last week.

At BIDV , the greenback price is listed at 23,875 - 24,175 VND/USD (buy - sell), up 5 VND in both buying and selling compared to the end of last week.

The NDT price at this bank is listed at 3,242 - 3,350 VND/NDT (buy - sell), unchanged in the buying direction and increased by 1 VND in the selling direction compared to the end of last week.

STT	Currency code	Currency name	Bank rate commerce Buy	Bank rate commerce Sell	*State Bank exchange rate Apply for import and export from August 24-30
1	EUR	Euro	25,280.57	26,695.11	25,936.50
2	JPY	Japanese Yen	159.48	168.83	164.01
3	GBP	British Pound	29,479.17	30,735.00	30,453.22
4	AUD	Australian Dollar	15,034.47	15,674.95	15,373.58
5	CAD	Canadian Dollar	17,220.00	17,953.58	17,649.93
6	RUB	Russian Ruble	241.87	267, 78	253.07
7	KRW	Korean Won	15.72	19.15	17.87
8	INR	Indian Rupee	289.85	301.46	288.07
9	HKD	Hong Kong Dollar (China)	2,984.23	3,111.36	3,049.46
10	CNY	Chinese Yuan China	3,227.00	3,365.00	3,282.06

(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 to 104.19 compared to last Friday (103.99).

The greenback exchange rate increased, the euro decreased.

Specifically, the USD has been continuously increasing for 6 consecutive weeks. Moreover, this index surpassed the important resistance level of 103.50 last week, reaching a high of 104.45 before closing the week at 104.08.

As expected on August 25, in a speech at the Jackson Hole Symposium, US Federal Reserve (Fed) Chairman Jerome Powell reiterated the central bank's concerns about rising inflation.

From his speech, it was clear that the Fed would either raise rates if needed or continue to keep them higher, and that there would be no rate cuts, at least in the near future.

The Fed raised interest rates by 25 basis points at its July policy meeting. The Fed funds rate is currently in a range of 5.25-5.5%. The next meeting is scheduled for September 19-20. Markets are expecting the central bank to keep rates unchanged at this upcoming meeting.

The move up and closing above 103.50 this week is a positive sign for the DXY. If the index remains above 103.50, the short-term outlook is bullish, with a possible move to 105 and even 106. However, if the index falls sharply below 103, the upside momentum will be limited and the bearish outlook will return.

Overall, 100-106 has been the main trading range for the DXY index since the beginning of this year. Therefore, price action around 106 will need to be closely watched in the coming period.

Elsewhere, the Euro continued to decline, and is now above the key support level of 1.0765.

The currency needs to bounce from the current level and break above 1.09 to avoid a deeper decline. Conversely, a further drop below the 1.0765 support level could drag the euro down to 1.07 and 1.06 in the coming weeks. Therefore, this week's price action will be crucial for the euro.

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