USD exchange rate today October 23, 2024: Continues to increase beyond 104

World USD exchange rate today

In the US market, the US Dollar Index (DXY), which measures the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), increased by 0.05% to 104.07 points.

The US dollar has been rising steadily for more than two months, thanks to expectations that the US Federal Reserve (Fed) will change its interest rate cut plan.

The dollar has risen for three consecutive weeks, largely thanks to positive economic data that has reduced expectations of interest rate cuts from the Fed, while pushing up US Treasury yields, with the 10-year yield reaching 4.222% - the highest level since July 26.

There is an 89.6% chance the Fed will cut rates by another 25 basis points at its November meeting, according to CME's FedWatch tool.

The DXY index hit its highest level since August, rising about 3.3% in October. Meanwhile, the British pound edged down 0.04% to $1.2979 and the euro fell 0.15% to $1.0798.

In addition, the US dollar rose 0.17% against the Japanese yen to 151.08, its highest level since late July. Japan, which is about to hold a general election, is facing economic pressure as the yen weakens, and the Bank of Japan may have difficulty maintaining its stimulus monetary policy.

Domestic USD exchange rate today

Currently, the exchange rate of commercial banks fluctuates from 23,400 to 25,402 VND/USD, according to regulations of the State Bank of Vietnam (SBV).

Reference exchange rate at the State Bank of Vietnam: buy 23,400 VND/USD, sell 25,402 VND/USD.

At Vietcombank, the USD exchange rate today is listed at 25,062 - 25,452 VND/USD.

The USD exchange rate at other banks is in the range of 24,000 - 25,500 VND/USD, showing the increase in USD price in the market.

In the free market, the USD exchange rate in Hanoi this morning increased sharply, trading at 25,517 - 25,617 VND/USD, an increase of 111 VND compared to the previous day.