USD hits bottom in over a year, British Pound benefits the most

Foreign exchange rates, USD/VND exchange rate today, August 28, recorded USD falling to its lowest level in more than a year as investors await important economic data released this week and next week.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: August 28, 2024 08:26 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
Australian Dollar	AUD	16,434.63	16,600.63	17,133.81
Canadian Dollar	CAD	18,002.47	18,184.31	18,768.36
SWISS FRANC	CHF	28,756.88	29,047.36	29,980.30
YUAN RENMINBI	CNY	3,413.44	3,447.92	3,559.20
DANISH KRONE	DKK	-	3,651.68	3,791.65
EURO	EUR	27,038.62	27,311.74	28,522.21
Sterling Pound	GBP	32,070.87	32,394.81	33,435.28
HONG KONG DOLLAR	HKD	3,101.59	3,132.92	3,233.54
INDIAN RUPEE	INR	-	295.06	306.87
YEN	JPY	167.10	168.78	176.86
Korean Won	KRW	16:15	17.94	19.57
KUWAITIAN DINAR	KWD	-	81,181.90	84,430.48
MALAYSIAN RINGGIT	MYR	-	5,666.52	5,790.31
NORWEGIAN KRONER	NOK	-	2,325.83	2,424.66
Russian Ruble	RUB	-	258.25	285.89
SAUDI RIAL	SAR	-	6,598.92	6,862.99
SWEDISH KRONA	SEK	-	2,395.84	2,497.65
SINGAPORE DOLLAR	SGD	18,600.24	18,788.12	19,391.57
THAILAND BAHT	THB	646.64	718.49	746.03
US DOLLAR	USD	24,630.00	24,660.00	25,000.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:30 a.m. on August 28, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 24,224 VND, down 30 VND.

The reference USD exchange rate at the State Bank's Transaction Office is listed at: 23,400 VND - 25,450 VND.

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

Vietcombank: 24,630 VND - 25,000 VND.

Vietinbank : 24,540 VND - 24,990 VND.

Foreign exchange rates, USD/VND exchange rate today August 28: USD hits one-year low, British Pound benefits the most. (Source: Getty Images)

Exchange rate developments in the world market

The Dollar Index (DXY), which measures the USD against six major currencies (Euro, JPY, GBP, CAD, SEK, CHF), stopped at 100.55, down 0.30%.

The pound has risen to its highest level against the dollar in more than two years.

The greenback fell to its lowest level in more than a year as investors awaited key economic data this week and next.

Currency market moves remain driven by the prospect of upcoming US interest rate cuts, which has weighed on the USD in recent weeks.

Investors see a rate cut at the US Federal Reserve's September meeting as a near certainty, with debate now focusing on the possibility of a 50 basis point cut rather than 25 basis points.

Interest rate futures markets are pricing in a 37% chance the Fed will raise rates by 50 basis points, unchanged from last week, and a total of about 106 basis points of cuts in 2024.

The pound was among the beneficiaries of the dollar's weakness, hitting its highest level since March 2022 at $1.3246. The currency rose 0.3% to $1.3226.

The euro rose 0.2% against the dollar to $1.1181, just off a 13-month high hit earlier this week.

“After a strong rally since early August, it looks like the EUR/USD index could consolidate,” said Chris Turner, global market director at ING.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-288-usd-xuong-day-hon-mot-nam-bang-anh-huong-loi-nhat-284074.html