USD back on track, Japanese Yen inching up

Foreign exchange rates, USD/VND exchange rate today, August 16, recorded USD maintaining its increase compared to EUR, pulling the common European currency back down from its 7-month peak.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: August 16, 2024 07:25 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,137.00	16,300.00	16,823.30
CANADIAN DOLLAR	CAD	17,793.47	17,973.20	18,550.22
SWISS FRANC	CHF	28,173.34	28,457.92	29,371.54
YUAN RENMINBI	CNY	3,424.98	3,459.57	3,571.18
DANISH KRONE	DKK	-	3,625.92	3,764.86
EURO	EUR	26,855.16	27,126.42	28,328.30
Sterling Pound	GBP	31,300.52	31,616.69	32,631.72
HONGKONG DOLLAR	HKD	3,131.46	3,163.09	3,264.63
INDIAN RUPEE	INR	-	297.38	309.28
YEN	JPY	164.57	166.23	174.18
KOREAN WON	KRW	15.94	17.71	19.32
KUWAITIAN DINAR	KWD	-	81,574.84	84,838.00
MALAYSIAN RINGGIT	MYR	-	5,594.46	5,716.61
NORWEGIAN KRONER	NOK	-	2,289.17	2,386.42
RUSSIAN RUBLE	RUB	-	265.36	293.77
SAUDI RIAL	SAR	-	6,653.36	6,919.51
SWEDISH KRONA	SEK	-	2,342.72	2,442.24
SINGAPORE DOLLAR	SGD	18,525.58	18,712.71	19,313.46
THAILAND	THB	629.30	699.22	726.01
US DOLLAR	USD	24,840.00	24,870.00	25,210.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:30 a.m. on August 16, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,254 VND, down 100 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 24,840 VND - 25,210 VND.

Vietinbank : 24,720 VND - 25,212 VND.

Foreign exchange rates, USD/VND exchange rate today, August 16: USD returns to the race, Japanese Yen gradually inches up. (Source: Reuters)

Exchange rate developments in the world market

The Dollar Index (DXY), which measures the USD against six major currencies (Euro, JPY, GBP, CAD, SEK, CHF), stopped at 103.04, up 0.47%.

The US dollar held onto gains against the euro in the previous session, pulling the common European currency back from a seven-month peak.

The move came after US economic data eased fears of a recession and reduced expectations that the US Federal Reserve would aggressively cut interest rates.

US retail sales rose more than expected in July, which could prompt financial markets to reduce expectations of a 50 basis point interest rate cut next month.

Meanwhile, fewer Americans filed for unemployment benefits than expected in a recent week, although laid-off workers are having some trouble finding new jobs.

The euro fell 0.36 percent against the dollar to $1.0973. It hit a yearly high of $1.10475 in the previous session as markets digested U.S. inflation data.

The DXY index bounced off last week's eight-month low of 102.15.

“The data went against market expectations,” said Peter Vassallo, FX portfolio manager at BNP Paribas Asset Management.

The pound rose 0.17% to $1.2849 after data showed the UK economy grew 0.6% in the second quarter, in line with economists' expectations and a quick recovery of 0.7% in the first quarter of the year.

The pound also gained against the euro.

“Fears of a more aggressive Fed rate cut have been eased and Fed officials are seen as being more cautious in their response to the easing cycle,” said Karl Schamotta, chief market strategist at Corpay.

Markets are currently pricing in a 74.5% chance of a 25 basis point cut by the Fed next month, and a 25.5% chance of a 50 basis point cut, according to the CME FedWatch tool.

The yen closed the session at 149.13 yen per dollar, edging away from a seven-month high of 141.675 yen per dollar.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-168-usd-tro-lai-duong-dua-yen-nhat-nhich-dan-282702.html