USD exchange rate today October 22, 2024: USD continues to increase, reaching 104
USD exchange rate today October 22, 2024: The State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 15 VND, currently at 24,228 VND. The US Dollar Index (DXY) increased by 0.47%, reaching 103.96.
World USD exchange rate today
The US Dollar Index (DXY), which measures the strength of the USD against six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose 0.47% to 103.96. The USD rose thanks to rising US bond yields and many positive economic data, suggesting that the US Federal Reserve (Fed) may cut interest rates slowly and cautiously.
The dollar has been on a steady rise over the past three weeks as strong economic data has dampened expectations of a quick rate cut by the Fed. According to CME's FedWatch tool, the market is pricing in an 87% chance of a 25 basis point cut in November, and just a 13% chance of a no-deal.
The yield on the 10-year US Treasury note rose 10.5 basis points to 4.18%, near a three-month high. The Atlanta Fed also raised its estimate for third-quarter GDP growth to 3.4%. The presidents of the Dallas and Minneapolis Feds also said that there could be more rate cuts in the future.
The DXY index briefly touched 104.01, its highest level since October 4. The euro fell 0.5% to $1.0811 and the pound fell 0.54% to $1.2977. The European Central Bank (ECB) has just cut interest rates for the third time this year, with expectations that inflation will return to its target next year. However, the ECB needs more data to be sure.
In Japan, the dollar rose 0.84% against the yen to 150.77, after hitting a more than nine-week high of 150.83. Japan is preparing for a general election on October 27. In addition, investors are also watching the US presidential election, which will take place on November 5.
Domestic USD exchange rate today
In today's trading session, the State Bank (SBV) increased the central exchange rate of the Vietnamese Dong to the USD by 15 VND, currently at 24,228 VND/USD.
Commercial banks are allowed to trade exchange rates in the range of 23,400 to 25,450 VND/USD. At the State Bank of Vietnam, the buying and selling rates are also within this range.
Vietcombank currently lists the USD buying and selling rates at 25,040 - 25,430 VND/USD. The USD exchange rate at banks currently fluctuates from 24,000 - 25,500 VND/USD.
In the free market, the USD exchange rate increased this morning compared to the previous session. In Hanoi, at 5:30 a.m., the USD buying and selling rates were at 25,406 - 25,506 VND, up 56 VND in both directions compared to October 21.
