USD exchange rate today, September 10, 2024: Mixed fluctuations
USD exchange rate today, September 10, 2024: The State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the USD decreased by 25 dong, currently at 24,177 dong. The US Dollar Index (DXY) increased by 0.43%, reaching 101.61.
Today's USD exchange rate worldwide
The USD Index, a measure of the dollar's value against six other major currencies, is at 101.65, up slightly by 0.2% from the previous day.
The US dollar strengthened in the latest trading session ahead of the release of key inflation data. Recent labor market figures have shown inconsistent results, shifting attention to upcoming inflation data, including the Consumer Price Index (CPI).
The August CPI data is expected to show an annual inflation rate of 2.6%, down from 2.9% the previous month. Core inflation, excluding volatile items, is expected to remain stable at 3.2%.
The PPI data, another indicator of inflation, will be released with an inflation forecast of 1.7%, down from 2.2% last month.
Expectations for the Federal Reserve (Fed) to cut interest rates have decreased, with the expected rate of cuts now only 20-25%. The market still expects the Fed to cut interest rates by 100-125 basis points by the end of the year.
According to CME's FedWatch tool, there is a 73% chance the Fed will cut interest rates by 25 basis points, and a 27% chance of a 50 basis point cut. Reports from Reuters indicate that the market tends to believe the Fed will opt for a smaller rate cut of 25 basis points.
Today's domestic USD exchange rate
The State Bank of Vietnam announced the central exchange rate for VND/USD on September 10th as 24,177 dong, a decrease of 25 dong compared to the previous rate.
The reference USD exchange rate at the State Bank of Vietnam's Exchange remains stable, with a buying rate of 23,400 VND and a selling rate of 25,450 VND.
In the free market, the USD exchange rate in Hanoi at 6:40 AM this morning was 25,186 – 25,266 VND (buy – sell), an increase of 36 VND compared to the previous session.
Vietcombank increased the buying and selling price of USD to 24,470 – 24,840 VND, 70 VND higher than on September 9th.
BIDV also increased the buying and selling prices of USD, listing them at 24,515 – 24,855 VND, an increase of 70 VND.
Vietinbank increased the buying and selling price of USD to 24,350 – 24,850 VND, an increase of 80 VND compared to the previous session.
Eximbank listed the buying and selling prices of USD at 24,500 – 24,860 VND, an increase of 80 VND compared to the previous trading session.
