USD rises to a two-month high.

Foreign exchange rates, the USD/VND exchange rate today, October 16th, shows the US dollar rising slightly to its highest level in over two months.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 16/10/2024 08:29 - Time of source website update
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,228.03	16,391.95	16,918.31
CANADIAN DOLLAR	CAD	17,631.08	17,809.17	18,381.04
SWISS FRANCE	CHF	28,190.91	28,475.67	29,390.05
YUAN RENMINBI	CNY	3,414.08	3,448.57	3,559.30
DANISH KRONE	DKK	But	3,571.70	3,708.58
EURO	CZ	26,451.35	26,718.54	27,902.52
POUND STERLING	GBP	31,744.05	32,064.70	33,094.33
HONG KONG DOLLAR	HKD	3,129.34	3,160.95	3,262.45
INDIAN RUPEE	INR	But	295.86	307.70
YEN	rush	161.40	163.03	170.79
Korean Won	KRW	15.79	17.54	March 19th
KUWAITI DINAR	KWD	But	81,222.27	84,471.86
MALAYSIAN RINGGIT	MYR	But	5,728.64	5,853.75
NORWEGIAN KRONER	NOK	But	2,255.92	2,351.77
RUSSIAN RUBLE	RUB	But	245.43	271.70
SAUDI RIAL	SAR	But	6,624.65	6,889.69
SWEDISH KRONA	SEK	But	2,345.36	2,445.01
SINGAPORE DOLLAR	SGD	18,564.28	18,751.79	19,353.93
THAILAND BAHT	THB	661.21	734.68	762.83
US DOLLAR	cau	24,730.00	24,760.00	25,120.00

Exchange rate movements in the domestic market

On the domestic market, according to TG&VN 's report at 7:30 AM on October 16th, the State Bank of Vietnam announced the central exchange rate of the Vietnamese Dong against the US Dollar at 24,177 VND, a decrease of 16 VND.

The reference USD exchange rate listed at the State Bank of Vietnam's Exchange Department is: 23,400 VND - 25,335 VND.

The USD exchange rates at commercial banks for buying and selling are as follows:

Vietcombank: 24,735 - 25,125 VND

Vietinbank : 24,615 - 25,115 VND.

Foreign exchange rates, USD/VND exchange rate today, October 16th: USD reaches a two-month high. (Source: Getty Images)

Exchange rate movements in the global market.

Meanwhile, in the US market, the US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose 0.02% to 103.23.

The US dollar edged higher to its highest level in more than two months on expectations that the Federal Reserve will gradually cut interest rates over the next year.

The greenback traded lower for most of the session in Europe and the US, partly after media reports indicated Israel was unwilling to attack Iranian oil targets, easing market concerns about supply disruptions in the Middle East.

This pushed oil prices lower and dampened inflation expectations, putting slight pressure on the US dollar.

However, analysts say the recent upward trend of the dollar is still being fueled by geopolitical uncertainties.

Data showing a recovery in the US economy, while inflation in September rose slightly less than expected, led traders to reduce their bets on further large interest rate cuts from the Fed.

Previously, the central bank had begun its easing cycle with a bold move of 50 basis points at its most recent policy meeting in September, but market expectations have shifted to a slower pace of interest rate cuts, which has contributed to the strengthening of the US dollar.

Traders have placed near-100% bets on a 25 basis point rate cut in November, according to LSEG calculations.

The market also anticipates the Fed will cut rates by a total of 47 basis points this year and another 100 basis points in 2025, significantly less than the 200 basis point cuts priced in before the Fed's September meeting.

In other developments, the euro touched its lowest level since August 8th at $1.0882.

The British pound edged higher at $1.3068 after UK labor market data showed the slowest wage growth in more than two years. That pace would allow the Bank of England (BoE) to cut interest rates next month.

The US dollar also fell 0.4% against the yen to 149.25 yen, after the Japanese currency rose to 149.98 earlier in the week, its highest level since August 1st.

As of now, the US dollar has appreciated 3.8% against the Japanese yen in August.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-1610-usd-len-muc-cao-nhat-hai-thang-290154.html