USD exchange rate today 8/20/2024: USD drops sharply waiting for new information
USD exchange rate today (August 20): The State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 7 VND, currently at 24,261 VND.
World USD exchange rate today August 20, 2024
Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.61% to 101.85.
The dollar fell to a seven-month low and the yen hit its highest in more than a week on Tuesday, as traders awaited comments from Federal Reserve Chairman Jerome Powell this week, which are expected to signal that the central bank will start cutting interest rates in September.
Financial markets are facing a major milestone as the US Federal Reserve (Fed) prepares to announce its interest rate decision at the Jackson Hole Conference.
Many experts predict that the Fed will cut interest rates by 25 basis points at the upcoming meeting. However, there are also opinions that the Fed may cut more aggressively to deal with the current economic situation.
If the Fed cuts interest rates, the US dollar is likely to weaken, while assets like stocks and gold are likely to rise.
USD exchange rate today in the country
USD exchange rate today, August 20, the free market witnessed a sharp increase in the USD exchange rate compared to the previous trading session. Meanwhile, commercial banks recorded a significant decrease in the purchase and sale of the greenback. The highlight is that the central exchange rate announced by the State Bank of Vietnam increased to 24,261 VND/USD, 7 VND higher than the previously announced rate.
The reference USD exchange rate at the State Bank of Vietnam remains unchanged at 23,400 to 25,450 VND/USD for both buying and selling, unchanged from the previous session.
In the free market, the USD exchange rate increased sharply this morning, especially in Hanoi, at 6:30 a.m., the USD buying and selling exchange rate fluctuated around 25,343 - 25,413 VND/USD, an increase of 34 VND/USD for both buying and selling compared to the previous trading session.
Commercial banks recorded a sharp decrease in prices on August 19. Specifically, Vietcombank listed the USD buying and selling prices at 24,790 - 25,160 VND/USD, down 70 VND for both directions. BIDV also listed the USD buying and selling prices at 24,825 - 25,155 VND/USD, down 67 VND/USD for buying and 77 VND/USD for selling. Vietinbank and Eximbank were not out of this trend, with decreases of 80 VND/USD and 90 VND/USD for both directions, respectively.
