VCB
-0.82%
Vietstock - USD price recovered
USD price recovered last week (October 23-27, 2023) when the US economy received positive data in September 2023, boosting expectations that the US Federal Reserve (Fed) will have more space. keep interest rates higher to curb inflation.
On the international market, the USD-Index increased 0.42 points after 1 week, to 106.58 points.
The greenback increased in price again when the US economy received positive data in September 2023, boosting expectations that the Fed can continue to keep interest rates higher for a longer period of time to restrain inflation.
Accordingly, on October 26, the US Department of Commerce said that gross domestic product (GDP) grew by 4.9% in the period July-September 2023 (adjusted on a yearly basis), higher than forecast. 4.7% of economic experts and also much higher than the 2.1% level of the second quarter of 2023. This is the strongest growth since the fourth quarter of 2021.
The US economy grew faster than forecast in the third quarter of 2023, thanks to people spending aggressively despite increasing interest rates and high inflation.
Specifically, in September 2023, the core personal consumption expenditure index (core PCE) - the Fed's favorite inflation measure - increased by 0.3% compared to the previous month, matching experts' forecasts and high. higher than 0.1% in August 2023. However, compared to the same period, core PCE increased by 3.7%, 0.1 percentage point lower than August 2023.
Domestically, the central exchange rate of Vietnamese dong with USD decreased slightly by 3 VND/USD compared to the October 20 session, to 24,107 VND/USD in the October 27, 2023 session.
The State Bank (SBV) kept the spot buying price unchanged at 23,400 VND/USD. Meanwhile, the operator reduced the spot selling price by 3 VND/USD compared to October 20, to 25,262 VND/USD.
Notably, the listed exchange rate at Vietcombank (HM:VCB) increased by 30 VND/USD in both directions, to 24,360 VND/USD (buying) and 24,730 VND/USD (selling).
In contrast, the USD/VND exchange rate on the free market remained unchanged on the buying side while decreasing by 30 VND/USD on the selling side, at 24,550 VND/USD (buying) and 24.60 VND/USD.
