The Japanese Yen reached a record high, while the US Dollar recovered.

What is the exchange rate of 1 USD to VND today?

The State Bank of Vietnam's USD exchange rate is 23,956 VND.

The current USD exchange rate at Vietcombank is 24,200 VND - 24,570 VND (buying rate - selling rate).

The current Euro exchange rate is 25,508 VND - 27,086 VND (buying rate - selling rate).

The current exchange rate for the Japanese Yen is 159.44 VND - 169.87 VND (buying rate - selling rate).

The current exchange rate for the British Pound is 29,925 VND - 31,405 VND (buying rate - selling rate).

The exchange rate for the Chinese Yuan today is 3,310 VND - 3,475 VND (buying rate - selling rate).

Today's USD exchange rate

The US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), recorded a level of 104.16 points.

The US dollar rose after US unemployment benefit data once again showed that the country's labor market remains strong. This reinforced the Federal Reserve's message that interest rates are almost impossible to cut in the near future.

According to statistics from the U.S. Department of Labor, the number of initial jobless claims fell by 9,000 to 218,000 in the week ending February 3. This figure was lower than the 220,000 forecast by economists surveyed by Reuters.

Thierry Wizman, global foreign exchange expert at Macquarie, believes recent data is the driving force behind the rise in the USD price.

He said: “The question here is whether positive surprises in the US economy will continue to emerge. If the dollar weakens, strong US data must weaken, while Europe must improve. It’s very, very difficult to say when that will happen.”

The next important US data release coming soon is the Consumer Price Index (CPI) for January, scheduled for February 13th.

The US Federal Reserve is expected to cut interest rates by 115 basis points (bps) by the end of 2024. This expectation was initially at 140 bps. The probability of a Fed cut in March is now only half of what it was last week, at 18.5%.

The USD Index rose 0.14%.

The euro recovered 0.02%. The EUR/USD exchange rate is at 1.0773.

Higher Treasury bond yields have also supported the dollar, particularly against currencies with lower interest rates, such as the yen.

The Japanese yen fell by approximately 0.82%. The yen exchange rate rebounded, reaching 149.380 JPY/USD. During the session, the pair briefly touched 149.46 JPY/USD – its weakest level since November 27th.

Bank of Japan Deputy Governor Shinichi Uchida said the BOJ is unlikely to aggressively raise interest rates, even after exiting negative interest rate policy.

The British pound fell 0.11%. The GBP/USD exchange rate was 1.2613.

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