USD Index
On the morning of October 30, in the US market, the USD Index (DXY) measuring the fluctuations of the greenback against 6 major currencies increased by 0.03%, standing at 98.83 points.
The US dollar has risen slightly against European currencies, thanks to signals that the US and China are about to reach a ceasefire in the trade war. Meanwhile, traders await a meeting of the US Federal Reserve (Fed).
US President Donald Trump also expressed optimism about the upcoming summit with Chinese President Xi Jinping. At the same time, details of the tense trade deal with South Korean President Lee Jae Myung were completed.
Mr. Trump is expected to meet with the Chinese President today in expectation of reducing tariffs on Chinese goods in exchange for Beijing's commitment to limit exports of precursors used to produce fentanyl.
Mr. Bart Wakabayashi - Director of Tokyo branch of State Street commented: "The strength of the USD can be seen as a "relief" from Mr. Trump's tariff festival".
"The US dollar has been sold off quite strongly for a long time, so I think this is a market reaction. At some point the USD will recover and sometimes it can react excessively," Mr. interbayashi added.
Along with that, the meeting of the US Federal Reserve (Fed) was also the focus of attention. The market is almost certain that the Fed will cut interest rates, as policymakers run the economy based on limited data.
VND vs USD exchange rate
In the domestic market, at the beginning of the trading session on October 30, the State Bank announced that the central exchange rate of the Vietnamese Dong decreased by 4 VND to the USD at 25,091 VND.
The reference USD exchange rate at the State Bank's Buying - Selling Transaction Office remains unchanged, currently at: 23,887 VND - 26,295 VND, down 3 VND and 4 VND respectively.
At most commercial banks, the USD price today increased and decreased depending on the brand.
Banks listed USD selling prices at VND26,345/USD, down VND1/USD.
The bank with the highest cash and transfer price of USD: HSBC (26,210 VND/USD).
The difference between buying and selling prices at banks ranges from 135-384 VND/USD.
