USD exchange rate today September 28, 2024: Continues to decline after US inflation data

USD exchange rate today in the world

The US Dollar Index (DXY), which measures the strength of the US dollar against six other major currencies, edged down 0.10% to 100.42.

The US dollar weakened in recent trading as inflation data showed easing price pressures, while the Japanese yen gained on news that Shigeru Ishiba, a proponent of high interest rates, could become Japan's new prime minister.

The US personal consumption expenditures (PCE) price index, an indicator of inflation, edged up 0.1% in August, reflecting stability as expected by economists.

Over the 12 months, the PCE index rose 2.2%, a slight slowdown from July's 2.5% increase.

US consumer spending, which accounts for the bulk of economic activity, rose 0.2% in August, less than forecast but still indicating economic growth.

The US Federal Reserve (Fed) has shown a shift from controlling inflation to the goal of maintaining a stable labor market and has recently cut interest rates by 50 basis points.

The US dollar fell 0.2% for the week, continuing a four-week losing streak and its ninth decline in the past 10 weeks.

The euro also saw a slight decline during the week. The euro fell slightly against the US dollar, to just $1.116 per euro.

The market is expecting the Fed to cut interest rates by at least 25 basis points at its November meeting, with expectations for a deeper 50 basis point cut following the recent inflation report.

The Japanese yen rose significantly, reaching 142.1 yen per dollar, the biggest one-day gain since early August. For the week, the US dollar weakened against the Japanese yen, down 1.25%.

The yen strengthened after Shigeru Ishiba, a former defense minister, won the election and will become Japan's prime minister next week. Ishiba has opposed monetary stimulus and has argued that the Bank of Japan should continue to raise interest rates.

The euro also fell against the Japanese yen, falling 1.95% to 158.67 yen per euro. Data from Europe showed inflation in France and Spain was lower than expected, increasing the likelihood that the European Central Bank will cut interest rates in October.

China rolled out new economic stimulus measures on September 27, including cutting interest rates and pumping money into the banking system, to meet its growth target of around 5% this year.

The pound edged down against the US dollar to $1.3375 per pound, but still gained slightly on the week, on track for a second consecutive weekly gain.

USD exchange rate today in the country

The State Bank of Vietnam announced the central VND/USD exchange rate for September 28 at 24,118 VND, an increase of 13 VND compared to the previous rate.

The reference USD exchange rate at the State Bank of Vietnam is stable at the buying rate of 23,400 VND and increases by 13 VND at the selling rate of 25,273 VND.

In the free market, the USD exchange rate in Hanoi at 6:12 this morning increased sharply, with the buying rate being 25,202 VND and the selling rate being 25,312 VND, an increase of 90 VND compared to the previous day.

Vietcombank has reduced the buying and selling prices of USD, with the current exchange rate being 24,370 VND for buying and 24,760 VND for selling, down 60 VND and 40 VND respectively.

BIDV also reduced the USD buying and selling rates to 24,430 VND and 24,770 VND, down 20 VND for both.

Vietinbank listed the buying rate at 24,280 VND and the selling rate at 24,780 VND, down 20 VND for both compared to the previous day.

Eximbank also reduced the USD buying and selling rates, currently 24,410 VND for buying and 24,770 VND for selling, down 20 VND for both.