USD bounces back strongly

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased sharply by 0.65%, reaching 102.71.

USD exchange rate in the world today

The US dollar rose against the euro and sterling in the last trading session, and is on track for its biggest weekly gain since February, as investors flocked to safe-haven assets.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch

U.S. consumer sentiment fell to a six-month low in May, a University of Michigan survey showed on May 12, amid concerns that raising the federal government’s borrowing limit could trigger a recession. Consumers’ long-term inflation expectations rose to their highest level since 2011, which could affect the Federal Reserve’s intention to pause interest rate hikes.

Recent data showing a slowing economy has boosted the likelihood that the Fed will pause its rate hikes at its June meeting. In addition, US consumer price inflation cooled to 4.9% year-on-year in April. Moreover, weekly jobless claims rose more than expected.

However, “the differential continues to favor the greenback,” said Karl Schamotta, chief market strategist at Corpay in Toronto. “Surprises in the University of Michigan consumer sentiment survey are pointing to another rate hike at the Fed’s June meeting.”

Fed Governor Michelle Bowman said the central bank may need to raise interest rates further if inflation remains high.

The pound fell 0.5% to $1.2448, while the euro weakened, down 0.6% to $1.0851.

USD exchange rate today (May 13): USD increases strongly. Illustration photo: Reuters

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on May 12, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 8 VND, currently at: 23,640 VND.

* The reference exchange rate at the State Bank's transaction office increased, currently at: 23,450 VND - 24,772 VND.

USD exchange rates at commercial banks are as follows:

USD exchange rate	Buy	Sell
Vietcombank	23,300 VND	23,640 VND
Vietinbank	23,250 VND	23,670 VND
BIDV	23,310 VND	23,610 VND

* The Euro exchange rate at the State Bank's exchange office for buying and selling slightly decreased to: 24,522 VND - 27,103 VND.

Euro exchange rates at commercial banks are as follows:

Euro exchange rate	Buy	Sell
Vietcombank	25,214 VND	26,359 VND
Vietinbank	24,734 VND	26,024 VND
BIDV	25,233 VND	26,373 VND

MINH ANH

Source: https://www.qdnd.vn/kinh-te/tin-tuc/ty-gia-usd-hom-nay-13-5-dong-usd-bat-tang-manh-727986