The State Bank of Vietnam continued to lower the central exchange rate by 5 dong to 25,637 dong per US dollar. Commercial banks cut the dollar rate by another 30 dong. Vietcombank bought dollars at 25,650 to 25,680 dong and sold them at 26,070 dong. ACB bought dollars at 25,660 to 25,690 dong and sold them at 26,050 dong. Vietinbank bought dollars at 25,618 to 25,683 dong and sold them at 26,063 dong. The dollar is gradually moving closer to 26,000 dong.
Other bank currency rates moved in different directions. At Vietcombank, the euro rose by 2 dong to 28,252 to 28,580 dong for buying and 29,742 dong for selling. The British pound rose by 60 dong to 33,448 to 33,785 dong for buying and 34,868 dong for selling. The Australian dollar fell by 120 dong to 17,443 to 17,619 dong for buying and 18,184 dong for selling.
On global markets, the dollar fell sharply after reaching its highest level in 18 months. The Dollar Index fell 0.54 point to 102. The US currency declined after investors temporarily set aside positive inflation and spending data from the United States and focused on a sell-off in shares of companies operating data centers for artificial intelligence.
US producer prices rose in September at the fastest pace in four and a half years as the cost of goods and services increased. The data added to evidence that inflationary pressure is spreading beyond the energy sector. Retail sales rose more than expected last month, driven by higher gasoline prices. Weekly applications for unemployment benefits also edged up. The developments showed that consumer demand remained firm and the labor market stayed stable. US government bonds rose while the dollar fell again.
Investors will also watch statements by Federal Reserve officials, including Chair Kevin Warsh, at the annual conference of the International Monetary Fund and the World Bank in Bangkok on October 16. They are looking for signals about the next steps of the US central bank.
The Australian dollar fell 0.77% to 0.6919 US dollar per Australian dollar after domestic employment unexpectedly declined in September. The Japanese yen rose 0.15% to 158.08 yen per dollar. The move helped the euro recover 0.56% from its 18-month low to 1.1218 US dollar per euro, putting it on course for its strongest daily rise in almost two months. The pound rose 0.64% to 1.3275 dollars after data showed that the UK economy unexpectedly grew 0.1% in August.
Sources: Thanh Niên
