USD exchange rate today, October 15, 2024: Rises above 103
Today's USD exchange rate (October 15, 2024): The State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the USD decreased by 14 dong, to 24,161 dong. The US Dollar Index (DXY) increased by 0.32%, reaching 103.21.
Global USD exchange rate on October 15, 2024
The US Dollar Index (DXY), a measure of the US dollar's volatility against six other major currencies, edged up 0.32% to 103.21.
The US dollar hit a 10-week high in recent trading, driven by concerns about an economic slowdown, reflecting expectations that the Federal Reserve may gradually lower interest rates.
The DXY index rose to a high of 103.36, its highest level since August 8, while the euro fell to a 10-week low, below $1.09.
The European Central Bank (ECB) plans to cut interest rates this week, but the Fed's decisions remain the focus of market attention.
According to LSEG estimates, the US interest rate futures market predicts an 87% probability that the Fed will cut interest rates by 25 basis points at its November meeting, and a 13% probability that rates will be kept unchanged at between 4.75% and 5%.
At its September policy meeting, the Fed decided to cut interest rates by 50 basis points.
The interest rate futures market is currently expecting the Fed to continue cutting interest rates by approximately 45 basis points through the end of the year and a further 98.5 basis points in 2025, a figure significantly lower than previous market predictions.
Expectations that the Fed will cut interest rates more slowly and less frequently have supported the dollar over the past few weeks, but analysts believe this rally may be coming to an end.
Marc Chandler from Bannockburn Global Forex predicts that the EUR/USD exchange rate could rise to $1.09 and the GBP/USD exchange rate could reach $1.30.
The market is paying close attention to the upcoming US employment figures.
Neel Kashkari, President of the Minneapolis Fed, has reinforced the view that the US central bank may ease monetary policy.
The euro fell 0.3% to $1.0902 on expectations that the European Central Bank (ECB) will cut interest rates by 25 basis points at its upcoming policy meeting.
Recent data suggests that economic activity in the Eurozone is slowing down.
A recent report indicates that the German economy continued to struggle in the previous quarter.
The British pound fell slightly by 0.1% against the US dollar, to $1.3054.
The US dollar has appreciated against the yen, reaching its highest level since early August, at 149.96 yen.
The United States will release retail sales figures and unemployment benefit claims data on October 17th.
Domestic USD exchange rate on October 15, 2024
The State Bank of Vietnam has listed the central exchange rate at 24,161 VND/USD, a decrease of 14 dong compared to the previous day.
Commercial banks can trade within the range of 22,952 to 25,369 VND/USD, subject to the +/-5% fluctuation margin.
Vietcombank is currently quoting the USD at 24,630 to 25,020 VND/USD, an increase of 30 dong for buying and 20 dong for selling compared to this morning.
VietinBank's buying rate is 24,520 VND/USD and its selling rate is 25,020 VND/USD.
Techcombank is currently quoting a buying rate of 24,601 VND/USD and a selling rate of 25,110 VND/USD.
Eximbank listed the buying rate at 24,650 VND/USD and the selling rate at 25,060 VND/USD.
In the free market, the USD/VND exchange rate is currently 25,250 - 25,350 VND/USD, an increase of 10 dong in both directions compared to the previous day.
The buying price of USD in the free market is up to 730 dong higher and the selling price is 330 dong higher than at banks, with the difference decreasing by 20 dong compared to the previous day.
