USD exchange rate today October 17, 2024: Continue to increase strongly
USD exchange rate today October 17, 2024: The State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 10 VND, currently at 24,187 VND. The US Dollar Index (DXY) increased by 0.26%, reaching 103.52.
World USD exchange rate today
The US Dollar Index (DXY), which measures the US dollar's performance against a basket of six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), edged up 0.26% to 103.52.
The US dollar has rallied sharply in recent trading sessions, hitting an 11-week high, as investors do not expect the US Federal Reserve (Fed) to cut interest rates significantly at its upcoming policy meeting.
The pound fell to a two-month low on weaker-than-expected inflation data that could prompt the Bank of England to cut interest rates more aggressively.
The euro (EUR) also fell, hitting an 11-week low ahead of a European Central Bank (ECB) meeting.
Financial markets are paying attention to the upcoming US presidential election and the Fed's interest rate stance.
Policies proposed by former US President Donald Trump, including tax cuts, deregulation of financial markets and increased tariffs, were seen as beneficial to the US dollar. Higher tariffs could reduce economic growth in exporting countries in Asia and Europe, forcing their central banks to cut interest rates, thereby weakening their currencies and supporting the value of the US dollar.
Amo Sahota, CEO of Klarity FX, said that major central banks could cut interest rates more aggressively than the US Federal Reserve (Fed) due to the rapid decline in the global economy, which supports the value of the USD.
In a recent interview, former US President Donald Trump expressed a tough stance on imposing high tariffs on trading partners, which could affect economic decisions.
The dollar hit an 11-week high of 103.60, while the euro fell 0.4% to $1.0855, its lowest since early August.
The pound fell sharply, losing 0.7% of its value against the dollar to $1.2982, marking the first time it has fallen below $1.30 since August 20.
UK inflation fell to 1.7% in September, lower than forecast, raising the possibility that the Bank of England will cut interest rates next month.
The euro gained against the pound, closing at 83.62.
In the US, the market predicts a 97% chance that the Fed will cut interest rates by 25 basis points at its next policy meeting.
The dollar rose 0.4 percent against the Japanese yen to 149.765 yen, close to a one-week high of 149.98 yen.
Domestic USD exchange rate today
The central exchange rate announced by the State Bank is currently 24,187 VND/USD, a slight increase of 10 VND compared to the previous day.
Commercial banks can trade USD in the range of 22,977 to 25,396 VND/USD, according to the +/-5% margin regulation.
Vietcombank currently lists the USD price from 24,780 to 25,170 VND/USD, 45 VND higher than the previous morning.
VietinBank's current buying rate is 24,650 VND/USD and selling rate is 25,150 VND/USD.
Techcombank's buying and selling prices for USD are 24,724 and 25,246 VND/USD respectively.
Eximbank listed the USD/VND exchange rate for this morning's trading session at 24,780 - 25,170 VND/USD.
In the free market, the USD/VND exchange rate remained unchanged compared to yesterday, at 25,260 - 25,360 VND/USD.
The buying price of USD on the free market is up to 610 VND higher and the selling price is about 210 VND higher than the listed price of banks.
