Domestic USD turns to decrease, world close to 101 mark

Foreign exchange rates, USD/VND exchange rate today, October 1, the US Dollar Index (DXY) increased by 0.38%, reaching 100.76. The State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,093 VND, down 25 VND.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 10/01/2024 09:28 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,538.15	16,705.20	17,242.05
CANADIAN DOLLAR	CAD	17,690.74	17,869.43	18,443.69
SWISS FRANC	CHF	28,289.29	28,575.04	29,493.34
YUAN RENMINBI	CNY	3,427.68	3,462.30	3,574.10
DANISH KRONE	DKK	-	3,599.75	3,737.80
EURO	EUR	26,636.68	26,905.74	28,098.72
Sterling Pound	GBP	31,997.05	32,320.25	33,358.91
HONGKONG DOLLAR	HKD	3,079.28	3,110.39	3,210.34
INDIAN RUPEE	INR	-	292.25	303.95
YEN	JPY	164.49	166.16	174.07
KOREAN WON	KRW	16.12	17.91	19.44
KUWAITIAN DINAR	KWD	-	80,351.11	83,567.92
MALAYSIAN RINGGIT	MYR	-	5,868.85	5,997.17
NORWEGIAN KRONER	NOK	-	2,281.99	2,379.01
RUSSIAN RUBLE	RUB	-	251.32	278.23
SAUDI RIAL	SAR	-	6,528.67	6,790.05
SWEDISH KRONA	SEK	-	2,366.76	2,467.38
SINGAPORE DOLLAR	SGD	18,624.00	18,812.12	19,416.68
THAILAND	THB	668.79	743.10	771.60
US DOLLAR	USD	24,360.00	24,390.00	24,730.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 8:40 a.m. on October 1, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,093 VND, down 25 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,247 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 24,370 VND - 24,740 VND

Vietinbank : 24,233 VND - 24,733 VND

Foreign exchange rates, USD/VND exchange rate today, October 1, world USD close to 101, domestic USD turns to decrease. (Source: Reuters)

Exchange rate developments in the world market

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.38%, reaching 100.76.

The US dollar rose in the last trading session, after US Federal Reserve Chairman Jerome Powell took a tougher stance on the economy, prompting traders to cut bets that the US central bank will cut interest rates by another 50 basis points at its next meeting.

Powell said recent revisions to data on economic growth, savings rates and personal income have removed some of the risks the Fed was concerned about. He also said there would be two more rate cuts, a total of 50 basis points, this year if the economy performs as expected and warned that it could take several years for housing inflation to cool to the desired level. Powell noted that the economy remains strong but the central bank wants to stay ahead of the curve and prevent any weakness in the job market.

“He has shown his hawkish view on the US economy,” said Steve Englander, head of global G10 FX research and North America macro strategy at Standard Chartered Bank’s NY branch.

The US central bank cut interest rates by 50 basis points on September 18, which Mr. Powell called a “correction” after a sharp decline in inflation since last year.

Traders are now pricing in a 35% chance of a 50 basis point Fed cut in November, down from about 37% before Powell's speech and from 53% late last week, according to CME Group's FedWatch Tool.

Meanwhile, the euro fell 0.34% to $1.1125. The greenback rose 1.17% to 143.85 yen. Powell's speech comes ahead of key U.S. data including the Institute for Supply Management's manufacturing index on October 1 and non-manufacturing data on October 3, as well as September employment data due this week.

Marc Chandler, chief market strategist at Bannockburn Global Forex in New York, said the likelihood of another 50 basis point cut by the Fed this year is high, adding that he would only expect deeper cuts if the jobs report is weak, meaning new jobs added below 100,000 and the unemployment rate rises.

Economists in a Reuters poll expect employers to have added 140,000 jobs in September and the unemployment rate is expected to hold steady at 4.2%.

Meanwhile, data released on September 30 showed that inflation in Germany fell to its lowest level since February 2021 in September.

Major brokerages, including Goldman Sachs and JPMorgan, now expect the European Central Bank to cut rates by 0.2 basis points at its meeting on October 17, based on recent data showing a weakening economy and slowing inflation.

The AUD and NZD rose after the People's Bank of China cut interest rates and injected liquidity into the banking system late last week.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-110-usd-trong-nuoc-quay-dau-giam-the-gioi-sat-moc-101-288234.html