USD exchange rate today 11/4/2024: Free market increases slightly
USD exchange rate today, November 4, 2024: The free market increased slightly, reflecting investors' waiting sentiment before the Fed's policy meeting and the results of the upcoming US presidential election.
World USD exchange rate
The US Dollar Index (DXY), which measures the strength of the greenback against six major currencies, is currently at 104.32. The greenback has been trading low all week, but the DXY has rallied sharply from 103.68 in late trading, resuming its weekly gains. The gains were largely driven by US Treasury yields.
The DXY index ended the week at 104.32, while the 10-year Treasury yield jumped to 4.38%. This week, markets are awaiting several important events that could affect currencies, including the US presidential election on November 5 and the US Federal Reserve's policy meeting on November 7. The market is expecting the Fed to cut interest rates by 25 basis points this week, with a total of 50 basis points of reduction forecast for the year.
The DXY index is still in an uptrend, likely to reach 105.50-106 in the near future. However, the 106 zone is considered a strong resistance level, so it is likely that the index will fall to 104-103 after approaching this zone.
As for the 10-year Treasury yield, it is currently targeting 4.45%, which is also a strong resistance level. The market predicts that after testing this level, the yield may reverse back to around 4.2-4.15%.
Domestic USD exchange rate
The State Bank kept the central exchange rate with the USD stable at 24,242 VND. The exchange rate of commercial banks fluctuated from 23,400 to 25,450 VND/USD.
At Vietcombank, the buying and selling USD exchange rate is currently at 25,084 - 25,454 VND, unchanged from yesterday. The general USD price at banks fluctuates from 24,000 to 25,500 VND/USD.
The EUR exchange rate at the State Bank of Vietnam has increased slightly, currently at 25,067 - 27,706 VND. The Japanese Yen exchange rate has also increased slightly, at 152 - 167 VND.
At some other banks, such as Techcombank, the USD buying and selling price is 25,036 - 25,454 VND/USD. Eximbank reported the exchange rate as 25,080 - 25,454 VND/USD.
In the free market, the USD exchange rate also increased in both directions. In Hanoi, at 5:30 a.m., the USD was traded at 25,790 - 25,890 VND, an increase of 81 VND compared to November 2.
