USD exchange rate today, October 2, 2024: The US dollar strengthens significantly.

Today's USD exchange rate worldwide

The US Dollar Index (DXY), a measure of the dollar's strength against six other major currencies, rose 0.43% to 101.21. The dollar strengthened after Federal Reserve Chairman Jerome Powell declined to significantly cut interest rates.

The strengthening of the dollar has impacted currency markets, reducing the value of the British pound against the dollar, reflecting a slowdown in UK manufacturing in September.

Despite the decline, the British pound remained near its recent highs, falling 0.4% to $1.33280.

In the past quarter, the British pound had its strongest trading quarter in two years, reaching its highest level against the dollar in over two years.

Investors are awaiting the US jobs report, scheduled for October 4th, to assess the state of the US economy and determine the Fed's next policy direction.

In the UK, the Purchasing Managers' Index for the manufacturing sector remained unchanged in September, holding at 51.5 points.

British manufacturers are worried about the government's new budget and the possibility that the Bank of England may cut interest rates once more before the end of the year.

The market is awaiting the budget plan on October 30th under the leadership of the new Chancellor of the Exchequer, Rachel Reeves. There are concerns that the budget could negatively impact the UK economy.

The British pound remained stable against the euro, but the European Central Bank could ease monetary policy, putting pressure on the euro.

Inflation in the UK could cause the Bank of England to be slower to ease monetary policy than expected. A 25 basis point interest rate cut is anticipated next month, but no further cuts until the end of the year.

Today's domestic USD exchange rate

- The State Bank of Vietnam announced the central exchange rate of VND/USD for October 2nd at 24,081 VND, a slight decrease of 12 VND compared to the previous session.

- The reference USD exchange rate at the State Bank of Vietnam's Exchange Department is listed at 23,400 to 25,236 VND/USD for buying and selling, unchanged for the buying rate and down 11 VND for the selling rate compared to the previous session.

- On the free market, the USD exchange rate fell sharply this morning, trading in Hanoi at 6:13 AM at 24,902 – 25,002 VND/USD, a decrease of 34 VND for both buying and selling rates compared to the previous session.

- Vietcombank has increased the buying and selling prices of USD, with the current exchange rate at 24,400 – 24,770 VND/USD, an increase of 30 VND in both directions compared to the previous session.

- BIDV listed the USD buying and selling rates at 24,415 – 24,755 VND/USD, a decrease of 15 VND for the buying rate and an increase of 15 VND for the selling rate compared to the previous session.

- Vietinbank listed the buying and selling rates for USD at 24,275 – 24,775 VND/USD, an increase of 42 VND in both directions compared to the previous session.

- Eximbank listed the buying and selling rates for USD at 24,400 – 24,760 VND/USD, a sharp increase of 40 VND in both directions compared to the previous session.