USD exchange rate today, August 27, 2024: Domestic rate drops sharply.

Global USD exchange rate today, August 27, 2024

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 slightly by 0.14%, reaching 100.86.

The US dollar rose after hitting an eight-month low, while the Japanese yen also gained against most other currencies. This appreciation was driven by concerns about geopolitical developments in the Middle East, prompting investors to seek safe-haven assets.

Trading volume was lower than usual due to the UK market being closed for a public holiday.

Amo Sahota, Director of Klarity FX, believes that geopolitical tensions are the main reason driving demand for the US dollar as a safe-haven asset.

The US dollar was virtually unchanged against the yen, with a slight increase to 144.51 yen after falling to 143.45 yen.

Both the euro and the Swiss franc depreciated against the yen.

Helen Given from Monex USA said the yen appreciated against the US dollar and other currencies, partly due to expectations of US interest rate cuts.

Fed Chairman Jerome Powell confirmed this expectation in his speech at the Jackson Hole Conference. Traders expect the Fed to cut interest rates by 25 to 50 basis points in September.

The US dollar recovered against the yen after a report showed a strong increase in US durable goods orders in July. However, orders excluding aircraft, a key indicator of business spending, declined slightly.

The euro edged down 0.3% against the US dollar, currently trading at $1.1161. Investors are seeking safe havens, leading to higher demand for the Australian and New Zealand dollars.

Investor caution has boosted the value of the Swiss franc. The US dollar fell 0.1% against the Swiss franc, to 0.8469 francs.

The euro also lost 0.3% of its value against the Swiss franc, falling to 0.9454 francs.

The British pound fell 0.2% against the US dollar to $1.3192, after having risen to $1.3229 at the end of last week, marking its first gain in 17 months.

The head of the Bank of England, Andrew Bailey, has stressed that it is still too early to claim victory in the fight against inflation.

Domestic USD exchange rate today, August 27, 2024

The State Bank of Vietnam announced the central exchange rate for VND/USD on August 26th as 24,254 VND, a slight increase compared to the previous session.

The State Bank of Vietnam's Exchange Department listed the reference USD exchange rate at 23,400 to 25,450 VND/USD for both buying and selling, unchanged from the previous session.

Vietcombank lowered the buying and selling rates of USD to 24,680 - 25,050 VND/USD, a decrease of 100 VND/USD for both directions compared to the previous session.

BIDV also lowered its USD buying and selling rates, listing them at 24,715 - 25,055 VND/USD, a decrease of 128 VND/USD for both directions.

Vietinbank has lowered its USD buying and selling rates to 24,570 - 25,020 VND/USD, a decrease of 110 VND/USD for both directions.

Eximbank also followed the downward trend, with the USD buying and selling rates at 24,660 – 25,020 VND/USD, a decrease of 130 VND/USD in both directions.

In the free market, the USD exchange rate in Hanoi decreased, with the buying price at 25,184 VND/USD and the selling price at 25,254 VND/USD, down 40 VND/USD and 30 VND/USD respectively compared to the previous session.

See today's Vietcombank exchange rates.

Hung Cuong