USD exchange rate today August 12: USD at 24,260 VND/USD

The USD Index (DXY), which measures the greenback's performance against six major currencies, stood at 103.15.

USD exchange rate today August 12, 2024 on the world market

After a four-week rally, the Japanese yen fell against the dollar last week. The yen surged to a high of 141.70 against the greenback last week before reversing course.

The currency fell back to close the week at 146.60 against the greenback. That helped the DXY index stabilize late last week. The DXY index fell to a low of 102.16 before rebounding to close the week at 103.13.

Last week, the USD exchange rate witnessed an escalation in the central exchange rate and opposite fluctuations in the listed exchange rates at several major commercial banks. The selling prices announced at different commercial banks were not at the same level, creating a large difference. The central exchange rate fell to its lowest level of the week at VND22,240/USD on Tuesday and reached its highest level of VND24,262/USD on Thursday, then rested at VND24,260/USD over the weekend.

"Investors will look to key inflation data on Wednesday for clues on the potential size of the Federal Reserve's expected September rate cut. Markets are likely to remain volatile, while retail sales will be watched for signs of consumer spending strength," said Noreen Burke, financial markets analyst at Investing.com.

The focus next week will be on whether the Federal Reserve’s long-awaited rate cut is justified by upcoming economic data and how far global interest rate arbitrage will continue.

Concerns about growing conflict in the Middle East and the upcoming US election also mean that the instability is unlikely to go away anytime soon."

Inflation data from the US Consumer Price Index (CPI) due out this week will be a key event for investors. A weak inflation figure would strengthen the case for a rate cut in September. And that could drag the DXY index lower this week.

USD/VND exchange rate today, August 12, 2024 in the domestic market

The central VND/USD exchange rate today (August 12) was announced by the State Bank of Vietnam (SBV) at 24,260 VND/USD, unchanged from the trading session on August 11.

* The reference exchange rate at the State Bank's buying and selling exchange center remains unchanged, currently at: 23,400 to 25,450 VND/USD.

USD exchange rates at commercial banks are as follows:

The USD exchange rate on the free market this morning turned down compared to the previous session. At the Hanoi market, at 6:16 a.m., the USD was traded (buying - selling) at around 25,564 - 25,624 VND/USD, up 24 VND/USD for buying and selling compared to the previous trading session.

The USD exchange rate at Vietcombank listed the buying and selling prices at 24,900 - 25,270 VND/USD, unchanged from the previous session.