Foreign exchange rate update table - Vietcombank USD exchange rate today

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:30 a.m. on August 12, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,260 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 24,900 VND - 25,270 VND.

Vietinbank : 24,820 VND - 25,285 VND.

Foreign exchange rates, USD/VND exchange rate today, August 12: USD needs more 'catalysts'. (Source: Reuters)

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 103.15.

After a four-week rally, the Japanese yen fell against the dollar last week. The yen surged to a high of 141.70 against the greenback last week and then reversed course. It has since fallen back to close the week at 146.60 against the greenback.

That helped the DXY index stabilize late last week. The DXY index fell to a low of 102.16 before rebounding to close the week at 103.13.

Inflation data from the US Consumer Price Index (CPI) due out this week will be a key event for investors. A weak inflation figure would strengthen the case for a rate cut in September. And that could drag the DXY index lower this week.

The US Federal Reserve also hinted at its July meeting about cutting interest rates in September.

It may take some strong catalyst to push the greenback higher. In the absence of such a trigger, the Yen could rebound from the 149-150 support zone. That could take the currency to 144-143 again in the short term.

However, it is also likely to move sideways in the 144-150 range for a while before the Yen rebounds.

The USD index is unlikely to rise in the current scenario. The area around 104 will be a strong resistance level in the near term. A reversal from there could take the DXY index down to 103-102 again. Overall, the index could fluctuate in the 102-104 range for a while.

Except for a drop to 1.0881 in mid-week, the EUR remained broadly stable above the 1.09 mark throughout the week.

Strong resistance is around 1.0950. Failure to break above this level could leave the currency vulnerable to a drop to the 1.0880-1.0850 zone in the coming days.

EUR needs to sustain gains above 1.0950 to gain upside momentum and rise towards the 1.10-1.11 zone.

The yield on the 10-year US Treasury note has rebounded sharply from a low of 3.66% last week. Key resistance is at 4.03% and in the 4.08-4.10% range. The possibility of a rise above 4.1% is less likely.