USD "has a bright chance" to increase, EUR will continue to weaken

Foreign exchange rates, USD/VND exchange rate today October 21 recorded a positive outlook for the USD, while the EUR went in the opposite direction.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: October 21, 2024 08:27 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
Australian Dollar	AUD	16,448.93	16,615.08	17,148.36
Canadian Dollar	CAD	17,766.74	17,946.20	18,522.20
SWISS FRANC	CHF	28,349.18	28,635.53	29,554.61
YUAN RENMINBI	CNY	3,454.28	3,489.17	3,601.16
DANISH KRONE	DKK	-	3,599.47	3,737.36
EURO	EUR	26,643.98	26,913.12	28,105.31
Sterling Pound	GBP	31,992.89	32,316.05	33,353.26
HONG KONG DOLLAR	HKD	3,157.49	3,189.38	3,291.75
INDIAN RUPEE	INR	-	298.58	310.52
YEN	JPY	162.61	164.26	172.07
Korean Won	KRW	15.90	17.67	19.18
KUWAITIAN DINAR	KWD	-	81,918.41	85,194.60
MALAYSIAN RINGGIT	MYR	-	5,788.24	5,914.56
NORWEGIAN KRONER	NOK	-	2,257.00	2,352.86
Russian Ruble	RUB	-	247.70	274.21
SAUDI RIAL	SAR	-	6,683.48	6,950.77
SWEDISH KRONA	SEK	-	2,342.67	2,442.17
SINGAPORE DOLLAR	SGD	18,721.32	18,910.42	19,517.37
THAILAND BAHT	THB	671.34	745.93	774.51
US DOLLAR	USD	24,960.00	24,990.00	25,350.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:50 a.m. on October 17, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,213 VND.

The reference USD exchange rate at the State Bank's Transaction Office is listed at: 23,400 VND - 25,373 VND.

USD exchange rates at commercial banks buying and selling are as follows:

Vietcombank: 24,950 - 25,340 VND

Vietinbank : 24,820 - 25,320 VND.

Foreign exchange rates, USD/VND exchange rate today October 21: USD 'bright' to increase, EUR will continue to weaken. (Source: AFP)

Exchange rate developments in the world market

Meanwhile, in the US market, the US Dollar Index (DXY) measures the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) at 103.46.

The DXY index continued to rise for a third consecutive week after experiencing a volatile period, rising sharply at the beginning of the week and reaching an 11-week high on expectations that the US Federal Reserve (Fed) will cautiously cut interest rates. Positive US economic data, such as rising retail sales, supported the USD's rise.

However, the USD fell slightly late last week due to economic stimulus measures from China and negative housing data in the US.

Despite the weekend drop, the DXY index still gained 0.6% for the week, maintaining a positive outlook.

Last week, this index at times approached the 104 mark as predicted by many experts, peaking at 103.87 before turning down to 103.49 to close the week.

The overall bullish trend remains intact. The DXY currently has resistance at 104, which is expected to be reached this week.

As a rule, the DXY index must undergo a correction before a new rally can take place. In case the index breaks above 104, this will pave the way for a further rally to the 105-105.50 zone in the coming weeks.

For the EUR, the downtrend continued last week. The EUR/USD index hit a weekly low of 1.0811 and then made a slight recovery.

However, the overall trend remains bearish. Resistance lies at 1.0885 and 1.0920-1.0930, which are expected to cap the upside if there is a further recovery from current levels.

The EUR is expected to continue to weaken and fall, breaking the 1.08 level in the coming days, with a possible drop to 1.0750 in the short term.

This is a strong support level that could halt the current decline, and in turn could trigger a corrective rally towards 1.09-1.0950.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-2110-usd-sang-cua-tang-eur-se-tiep-tuc-suy-yeu-290745.html