USD exchange rate today October 8, 2024: Domestic USD slightly increased
USD exchange rate today October 8, 2024: The State Bank announced the central exchange rate of the USD increased by 20 VND, at 24,153 VND, the US Dollar Index (DXY) remained unchanged, currently at 102.49.
World USD exchange rate
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) remained unchanged, currently at 102.49.
The dollar held near a seven-week high in the previous session, as investors reassessed its position after strong U.S. jobs data last week and worries about tensions in the Middle East boosted safe-haven demand for the greenback.
The September jobs report showed the biggest increase in nonfarm payrolls in six months, a fall in the unemployment rate and solid wage gains, prompting markets to pare bets on further aggressive rate cuts by the Federal Reserve.
Markets are pricing in an 85% chance of a 25 basis point rate cut in November, up from 50 basis points, following the latest jobs data. According to the CME FedWatch tool, the market is pricing in an 85% chance of a 25 basis point cut, up from 47% last week and a slim 0.15% chance of no rate cut.
The yield on the US 10-year bond rose above 4% for the first time in two months, also providing psychological support.
The US dollar weakened against the Japanese yen after Atsushi Mimura, Japan's top currency diplomat, warned against speculative moves in the foreign exchange market.
The USD/JPY pair fell 0.49% to 147.98 after hitting its highest since August 15 at 149.10.
“The market gets cautious as the index approaches 150,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.
The DXY index, which measures the greenback against a basket of six currencies, fell 0.07% to 102.46, after rising late last week to 102.69, its highest since mid-August. The dollar posted a weekly gain of more than 2% last week, its biggest gain in two years.
Meanwhile, the euro fell just 0.01% to $1.0975, under some pressure after German industrial orders fell more than expected in August, adding to signs that manufacturing activity in Europe's largest economy remains sluggish.
However, overall, the USD still has a fairly positive outlook due to concerns about the geopolitical picture.
Against the Swiss franc, the dollar fell 0.45% to 0.854.
The CAD also fell 0.37% against the greenback to 1.36/USD.
The pound fell 0.25% to $1.3083. Last week, the currency recorded its biggest one-day drop since April after Bank of England Governor Andrew Bailey said the central bank could take more drastic action to reduce borrowing costs.
The AUD fell 0.6% against the greenback.
Domestic USD exchange rate
Today's domestic USD exchange rate on October 8 in the free market and commercial banks both reversed to increase sharply the buying and selling prices of USD compared to the previous session.
Specifically, the central exchange rate of the VND/USD currency pair announced by the State Bank for application in the session on October 8 was 24,153 VND, an increase of 20 VND compared to the previously announced rate.
The reference USD exchange rate at the State Bank of Vietnam is listed at 23,400 - 25,310 VND/USD (buy - sell), unchanged in the buying direction and up 21 VND/USD in the selling direction compared to the previous session.
The USD exchange rate in the free market this morning reversed and increased sharply compared to the previous session. At the Hanoi market, at 6:27 am, the USD was traded (buying - selling) at around 25,183 - 25,283 VND/USD, a sharp increase of 91 VND/USD for buying and selling compared to the previous trading session.
Commercial banks increased the buying and selling prices of USD sharply compared to the previous session. Specifically, the USD exchange rate at Vietcombank listed the buying and selling prices of USD at 24,640 - 25,030 VND/USD, a sharp increase of 90 VND/USD for buying and selling compared to the previous session.
BIDV listed the USD buying and selling prices at 24,670 - 25,030 VND/USD, a sharp increase of 80 VND/USD for both buying and selling compared to the previous session.
At Vietinbank, the listed USD buying and selling prices are at 24,550 - 25,050 VND/USD, a sharp increase of 90 VND/USD for both buying and selling compared to the previous session.
Eximbank listed the USD buying and selling prices at 24,640 - 25,000 VND/USD, a sharp increase of 120 VND/USD for buying and a sharp increase of 70 VND/USD for selling compared to the previous session.
