USD exchange rate today September 5, 2024: Domestic USD slightly increased
USD exchange rate today September 5, 2024: The State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased slightly by 5 VND, currently at 24,229 VND.
Domestic USD exchange rate on September 5, 2024
The State Bank of Vietnam announced the central VND/USD exchange rate for September 5 at 24,229 VND, a slight increase of 5 VND compared to the previous day.
The reference USD exchange rate at the State Bank of Vietnam is stable, with the buying rate at 23,400 VND and the selling rate at 25,450 VND.
On the free market, the USD exchange rate in Hanoi at 6:35 this morning recorded a buying price of 25,203 VND and a selling price of 25,293 VND, a significant decrease compared to the previous session.
Vietcombank reduced the buying and selling prices of USD, with the current exchange rate being 24,645 VND for buying and 25,015 VND for selling, down 15 VND compared to the previous session.
BIDV also slightly reduced the USD exchange rate, currently listed at 24,690 VND for buying and 25,030 VND for selling, down 2 VND.
Vietinbank kept the USD exchange rate unchanged from the previous session, at 24,520 VND for buying and 25,020 VND for selling.
Eximbank reduced 20 VND for both buying and selling USD, with the current exchange rate being 24,650 VND for buying and 25,010 VND for selling.
World USD exchange rate on September 5, 2024
Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.56% to 101.27.
The US dollar fell against other major currencies after the July jobs report showed a deterioration in the labour market, leading to speculation that the US Federal Reserve (Fed) could cut interest rates further.
Investors are betting heavily on the Fed to cut interest rates by 0.5% at its upcoming meeting, as the latest jobs data fell to a three-and-a-half-year low. The upcoming US payrolls report will provide further insight into the Fed's plans and the extent of the rate cut.
Atlanta Fed President Raphael Bostic stressed that interest rates cannot be kept high for too long to avoid hurting the job market, according to a statement on September 4.
Exchange rates of other currencies
The DXY index, which measures the dollar's value against a basket of currencies, fell 0.3% to 101.4.
The US dollar also fell 1% against the Japanese yen to 144.07 yen, its lowest in a week, as global markets shied away from risk.
US stocks continued to weaken after a sell-off on September 3, and weak manufacturing data raised concerns about the country's economic slowdown.
The US dollar fell against other major currencies in recent trading. The decline came after US employment data for July showed signs of weakness in the labour market.
With the labor market weak, many believe the US Federal Reserve (Fed) may cut interest rates.
The dollar lost more than 2% against other currencies in August but has since stabilized. Uncertainty in the stock market and falling bond yields have boosted the value of the Japanese yen.
The DXY index, which measures the value of the dollar against other currencies, has risen about 1% from its low in late August.
Economists expect the jobs report to show job growth in the US in August. Investors are awaiting new data on unemployment claims, due on September 5.
The euro (EUR) edged up 0.2% to $1.107075, recovering from earlier losses. France's recent hosting of the Olympic Games has boosted business activity in the euro zone.
The Canadian dollar (CAD) also rose 0.3% against the USD, following the Bank of Canada's decision to cut interest rates to 4.25%, in line with market expectations. However, there are concerns that slowing economic growth could lead to a rapid decline in inflation.
The British pound (GBP) rose 0.2% to $1.3138, after falling as low as $1.3101.
Foreign exchange rates at Vietcombank
EUR: 26,747 – 28,215 VND/EUR (buy – sell).
GBP: 31,724 – 33,074 VND/GBP (buy – sell).
CHF (Swiss franc): 28,516 – 29,729 VND/CHF (buy – sell).
CAD (Canadian dollar): 17,881 – 18,642 VND/CAD (buy – sell).
AUD (Australian dollar): 16,231 – 16,922 VND/AUD (buy – sell).
JPY (Japanese Yen): 165 – 175 VND/JPY (buy – sell).
