USD exchange rate today October 10, 2024: USD increases close to 103 mark
USD exchange rate today October 10, 2024: The State Bank announced the central rate of the Vietnamese Dong against the USD at 24,168 VND. The US Dollar Index (DXY) increased by 0.33% to 102.88.
World USD exchange rate on October 10, 2024
The US Dollar Index (DXY), which measures the US dollar's performance against six other major currencies, rose 0.33% to 102.88.
The US dollar edged up after minutes from the US Federal Reserve's September meeting showed strong support for a 50 basis point interest rate cut.
Investors expect the Fed to not cut interest rates too much after looking at positive data from non-farm payrolls, which has changed expectations of a near-term rate cut.
Amo Sahota, CEO at Klarity FX, said that the rise in the DXY index was related to the strong US jobs report.
It seems like Fed Chairman Jerome Powell needs to convince more people about cutting interest rates by 25 basis points than 50 basis points.
Dallas Federal Reserve Bank President Lorie Logan supported last month's 50 basis point interest rate cut but wants smaller rate cuts in the future due to concerns about inflation and economic uncertainty.
Traders see an 83% chance of a 25 basis point rate cut in November and a further 50 basis points by year-end, according to the minutes of the Fed's meeting. The odds of the Fed holding rates steady next month are 17%.
The euro fell sharply, hitting a two-month low against the US dollar, down 0.36% to $1.094.
The US dollar rose 0.72% against the Japanese yen to 149.26 yen, its highest since August 15. The yen has weakened since Japanese Prime Minister Shigeru Ishiba took office on surprise comments that Japan was not ready to raise interest rates.
The Australian dollar fell 0.43% against the US dollar to $0.6716.
The New Zealand dollar has been volatile since the Reserve Bank of New Zealand cut interest rates by 50 basis points. According to Lenny Jin of HSBC, the New Zealand dollar faces short-term challenges such as the Fed's monetary policy, geopolitics and the US presidential election.
The US dollar rose 0.42% against the Swiss franc to 0.86, its highest since August 20.
The pound fell 0.25% to $1.3071, its lowest since September 12.
Domestic USD exchange rate on October 10, 2024
The State Bank kept the central VND/USD exchange rate stable at 24,168 VND.
The State Bank of Vietnam listed the USD exchange rate from 23,400 to 25,326 VND/USD, unchanged from the previous session.
The USD exchange rate on the free market today (October 10) increased compared to the previous session. In Hanoi, the USD exchange rate on the free market increased by 10 VND, trading at 25,246 - 25,346 VND/USD.
Vietcombank listed a stable USD exchange rate, buying and selling at 24,635 - 25,025 VND/USD.
BIDV reduced the buying and selling price of USD by 15 VND, listed at 24,650 - 25,010 VND/USD.
Vietinbank reduced the buying and selling price of USD by 10 VND, listed at 24,510 - 25,010 VND/USD.
Eximbank kept the USD buying and selling prices unchanged, listed at 24,640 - 25,000 VND/USD.
