Today, 28 September, the report covers the U.S. dollar's exchange-rate trends and rates in the domestic market. The dollar is being influenced by DXY movements and expectations for Fed policy, while the timing of U.S. employment indicators is also drawing attention.
This morning, the State Bank of Vietnam announced that it had left the dollar-to-dong reference rate unchanged at VND25,641. The domestic market's buying and selling rate floors are the same, with the regular range at VND24,409–26,873. Movements in other major currencies, including European currencies and the yen, were provided as supplementary market news for the day.
The U.S. Dollar Index (DXY) is near 101.04, up 0.81% this week. Although its four-day winning streak has ended, it remains firm for the week overall. Since the September meeting, at which the Fed raised interest rates by 25 basis points, expectations for further rate hikes and concern over inflation risks have been supporting the market.
U.S. employment data and bond yield trends are expected to influence the dollar. If the data indicate a healthy labor market, expectations for additional Fed rate hikes could rise and support the dollar. On the other hand, a decline in crude oil prices could ease inflationary pressure, potentially weakening upward pressure on the dollar.
In domestic market trading rates, the State Bank of Vietnam's reference rate was again unchanged at VND25,641, while the spot-market trading range was shown at VND27,720–30,638. Commercial banks' dollar buying rates were around VND25,770–25,800, and selling rates were around VND26,180. The yen was quoted at VND158.04–159.62 for buying and around VND169.34–170 for selling, while the euro was quoted at VND28,794–29,029 for buying and VND30,312–30,365 for selling.