Free dollar turns to fall sharply

On the morning of May 31, the central exchange rate between VND and USD set by the State Bank remained the same as yesterday at 23,714 VND. The USD price at the State Bank Transaction Office was bought at 23,400 VND and sold at 24,849 VND, an increase of 3 VND in the selling price compared to the end of last week. The USD price of the State is also higher than that of commercial banks. Specifically, Eximbank bought at 23,260 VND and sold at 23,640 VND, an increase of 20 VND compared to yesterday. Vietcombank alone remained unchanged, still buying at 23,280 VND and selling at 23,650 VND...

Meanwhile, the free USD price dropped sharply by 20 VND in buying, down to 23,420 VND, and by 40 VND in selling, down to 23,500 VND.

Free USD price on the morning of May 31st decreased sharply

The world USD price decreased slightly when the USD-Index fell to 104.04 points, down 0.14 points compared to yesterday. According to Reuters, the greenback cooled down but was not too far from the peak of the past 2 months after some hardline Republican lawmakers said they would oppose the agreement to raise the US debt ceiling.

Meanwhile, US inflation data that beat market expectations last week has increased expectations for more rate hikes by the US Federal Reserve. The odds of a rate hike have increased in recent days following a series of statements from Fed leaders.

In addition, the Chinese yuan fell 0.4% to 7.0907 against the USD - the weakest level since early December 2022 after the People's Bank of China cut interest rates. In addition, the diplomatic situation between the US and China is also in a tense state when Beijing refused to invite the two countries' defense ministers to meet. This information is causing the greenback to remain around high levels.

Investors are now waiting for the US non-farm payroll data, scheduled to be released on June 2. From there, they will have more signals about monetary policy...

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