Foreign exchange rates, the USD/VND exchange rate today, August 2nd, shows the US dollar rising as geopolitical tensions increase, boosting market demand for safe-haven assets.
Foreign exchange rate update table - Vietcombank USD exchange rate today
| 1. VCB - Updated: 02/08/2024 08:26 - Time of source website update | ||||
| Foreign currency | Buy | Sell | ||
| Name | Code | Cash | Transfer | |
| AUSTRALIAN DOLLAR | AUD | 15,954.71 | 16,115.87 | 16,633.06 |
| CANADIAN DOLLAR | CAD | 17,715.46 | 17,894.41 | 18,468.67 |
| SWISS FRANCE | CHF | 28,195.23 | 28,480.03 | 29,394.01 |
| YUAN RENMINBI | CNY | 3,411.16 | 3,445.62 | 3,556.73 |
| DANISH KRONE | DKK | But | 3,581.44 | 3,718.63 |
| EURO | CZ | 26,528.09 | 26,796.05 | 27,982.95 |
| POUND STERLING | GBP | 31,277.63 | 31,593.56 | 32,607.46 |
| HONG KONG DOLLAR | HKD | 3,146.59 | 3,178.38 | 3,280.38 |
| INDIAN RUPEE | INR | But | 300.39 | 312.41 |
| YEN | rush | 164.03 | 165.69 | 173.61 |
| Korean Won | KRW | 15.87 | 17.64 | 19.24 |
| KUWAITI DINAR | KWD | But | 82,355.75 | 85,649.11 |
| MALAYSIAN RINGGIT | MYR | But | 5,485.80 | 5,605.51 |
| NORWEGIAN KRONER | NOK | But | 2,257.28 | 2,353.15 |
| RUSSIAN RUBLE | RUB | But | 280.83 | 310.88 |
| SAUDI RIAL | SAR | But | 6,705.14 | 6,973.27 |
| SWEDISH KRONA | SEK | But | 2,303.29 | 2,401.11 |
| SINGAPORE DOLLAR | SGD | 18,399.48 | 18,585.33 | 19,181.77 |
| THAILAND BAHT | THB | 626.77 | 696.41 | 723.08 |
| US DOLLAR | cau | 25,030.00 | 25,060.00 | 25,400.00 |
Exchange rate movements in the domestic market
On the domestic market, according to TG&VN 's report at 7:30 AM on August 2nd, the State Bank of Vietnam announced the central exchange rate of the Vietnamese Dong against the US Dollar at 24,244 VND, a decrease of 10 VND.
The reference USD exchange rate listed at the State Bank of Vietnam's Exchange Department is: 23,400 VND - 25,450 VND.
The USD exchange rates at commercial banks for buying and selling are as follows:
Vietcombank: 25,030 VND - 25,400 VND.
Vietinbank : 24,945 VND - 25,395 VND.
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| Foreign exchange rates, USD/VND exchange rate today, August 2nd: Reasons for the USD's rise after the sell-off. (Source: Reuters) |
Exchange rate movements in the global market.
The Dollar Index (DXY), which measures the USD against six major currencies (Euro, JPY, GBP, CAD, SEK, CHF), closed at 104.34, up 0.24%.
The US dollar strengthened as geopolitical tensions escalated, boosting market demand for safe-haven assets, while the British pound fell after the Bank of England cut interest rates from their 16-year high.
Concerns about a wider conflict in the Middle East have increased following the assassination of Hamas leader Ismail Haniyeh in Tehran, Iran.
Karl Schamotta, a market strategist at Corpay in Toronto, argues that these geopolitical tensions are boosting the appeal of safe-haven assets like the US dollar.
The US dollar surged after a sharp sell-off on July 31, following dovish comments from Federal Reserve Chairman Jerome Powell at the conclusion of the two-day policy meeting.
Accordingly, Powell stated that interest rates could be cut as early as September if the US economy proceeds as expected. The Fed's policy statement on July 31 cited "further prospects toward the 2% inflation target," while noting that the unemployment rate of 4.1% "remains low."
Traders are now fully pricing in three 25-basis-point interest rate cuts by the end of the year, suggesting one cut at each of the Fed's September, November, and December meetings.
The British pound fell 0.96% to $1.2733, its lowest level since July 3, after the Bank of England cut interest rates.
Meanwhile, the euro touched a three-week low of $1.07775, closing the session down 0.36% at $1.07865.
The Japanese yen edged higher a day after a sharp rise following the Bank of Japan's decision to raise interest rates by 0.25%, the highest level since 2008.
Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-28-ly-do-usd-di-len-sau-khi-bi-ban-thao-281008.html
