USD exchange rate today October 29, 2024: USD fluctuates

World USD exchange rate today

In the US market, the US Dollar Index (DXY) increased by 0.05% to 104.30, showing the stability of the USD. The USD also recorded a 1% increase against the Japanese Yen, reaching 153.88, marking the lowest level of the Yen in the past 3 months.

Since the beginning of October, the USD has been on a strong upward trend, heading for its biggest gain since April 2022, with an increase of 3.6%.

In this context, the results of the general election in Japan caused the ruling coalition (Liberal Democratic Party and Komeito Party) to lose its majority, winning only 215/465 seats, failing to reach the target of 233 seats and lower than the 288 seats in the previous term.

The Liberal Democratic Party (LDP) won only 191 seats, down 65 from the previous, while the Komeito Party won 24 seats, down from 32. This result is expected to have a major impact on the monetary policy of the Bank of Japan, as they prepare to meet on interest rate policy this week.

Analysts at BNY predict that USD/JPY could reach 155, while 160 could trigger intervention from the Japanese Ministry of Finance. The dollar is on track for its biggest monthly gain in 2.5 years thanks to the strength of the US economy, coupled with expectations of a return of former President Donald Trump in the upcoming election, which has boosted US bond yields.

The euro, on the other hand, rose 0.15% to $1.0813, but still posted a decline of nearly 3% in October. Analysts warned that the euro could fall further if the US implements a global minimum tax and raises tariffs on China and other countries, while predicting that the European Central Bank could cut interest rates more aggressively, putting pressure on the currency.

Finally, investors are now focused on the US October jobs report, which is likely to be affected by the Boeing strike and two hurricanes that have just hit the US Southeast.

Domestic USD exchange rate today

The central exchange rate announced by the State Bank is currently at 24,252 VND/USD, down 3 VND compared to the previous trading session. According to regulations, commercial banks can trade within a +/-5% band, meaning the ceiling and floor rates are between 23,039 and 25,464 VND/USD.

At the State Bank of Vietnam, the reference buying and selling rates are 23,400 VND and 25,450 VND/USD.

Meanwhile, at Vietcombank, the USD price was listed at 25,164 - 25,464 VND/USD, also down 3 VND like the central rate, but the selling price was still close to the ceiling rate set by the State Bank. At VietinBank, the USD/VND exchange rate was recorded at 25,160 - 25,464 VND/USD.

Surveying some private joint stock commercial banks, Techcombank currently lists the USD buying/selling price at 25,110 - 25,467 VND/USD. Meanwhile, at Eximbank, the USD/VND exchange rate in this morning's trading session is 25,091 - 25,464 VND/USD.

In the free market, the USD/VND exchange rate this morning is at 25,600 - 25,700 VND, up 200 VND each way compared to the previous session. This means that the USD buying price in the free market is about 440 VND higher than that of commercial banks, while the selling price at banks is only about 236 VND higher than the free market.