USD exchange rate today September 25, 2024: Domestic increase, world decrease

USD exchange rate today in the world

The US Dollar Index (DXY), which measures the value of the US dollar against six other major currencies, fell 0.50% to 100.35 points. This decline came after the latest report showed that consumer confidence in the US unexpectedly dropped.

Federal Reserve (Fed) policymakers are on a tightening trend, which could influence future rate adjustments.

The US economy is showing mixed signs, with both signs of recession and potential recovery coexisting. Although economic growth has slowed somewhat, there are still some industries that are thriving.

The Fed stressed that its rate decision will be based on upcoming economic data, meaning adjustments could change depending on the situation on the ground.

US consumer confidence fell sharply in September, lower than initially expected. In this context, the market expects the Fed to cut interest rates significantly, possibly by as much as 75 basis points by the end of this year and 175-200 basis points next year.

Michelle Bowman, a member of the Fed’s Board of Governors, disagreed with the recent 50 basis point rate cut and warned that further cuts could delay the fight against inflation. Bowman pointed to current inflation risks, such as supply chain disruptions and fiscal policy issues.

Other Fed officials, Raphael Bostic of the Federal Reserve Bank of Atlanta and Austan Goolsbee of the Federal Reserve Bank of Chicago, were concerned about the labor market situation but still supported cutting interest rates quickly.

Markets are no longer expecting the Fed to cut rates by 25 basis points at its policy meeting on November 6-7, with 59% odds of a 50 basis point cut. Investors are also betting on a 75 basis point rate cut before the end of the year.

Another factor weighing on the dollar is that the yield on the 10-year US Treasury note has fallen from its September high and is now at 3.75%.

In recent trading session, Euro (EUR) has been slightly gaining in value due to the decline of US Dollar (USD).

Comments from European Central Bank (ECB) Governing Council member Muller provided support for the euro, with Muller stressing that the ECB may not be ready to make a rate decision in October due to lack of data.

In bad news for the euro, German business confidence fell more than expected in September, to an eight-month low.

Mr. Muller also expressed that making a decision on interest rates in October could be difficult for the ECB, but the decision in December would be easier when having a comprehensive view of the economic situation in the eurozone.

USD exchange rate today in the country

The State Bank announced the central VND/USD exchange rate for September 25 at 24,146 VND, up 20 VND from the previous day.

The reference USD exchange rate at the State Bank of Vietnam is 23,400 - 25,303 VND/USD, unchanged in buying and up 21 VND in selling compared to the previous day.

On the free market, the USD exchange rate in Hanoi at 6:15 this morning was 24,967 - 25,067 VND/USD, an increase of 14 VND compared to yesterday morning.

Vietcombank reduced the buying and selling price of USD to 24,400 - 24,370 VND/USD, down 30 VND compared to the previous session.

BIDV listed the USD buying and selling rate at 24,450 - 24,790 VND/USD, an increase of 10 VND compared to the previous day.

Vietinbank listed the USD buying and selling rate at 24,280 - 24,780 VND/USD, down 20 VND compared to the previous session.

Eximbank listed the USD buying and selling rate at 24,400 - 24,760 VND/USD, down 50 VND compared to the previous day.