World USD increases, domestic USD plunges

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 by 0.55%, reaching 102.10.

USD exchange rate in the world today

The US dollar rose in the last trading session, after manufacturing activity in New York increased in April, the first increase in five months, helping to strengthen expectations that the US Federal Reserve (Fed) will continue to raise interest rates in May.

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

“This is the best result since July last year with a surge in orders, which has pushed the greenback back up,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.

The economy still looks like it's growing above the Fed's ceiling. The market is underestimating the chances of another rate hike after May, especially given the expectation of a Fed cut after the last hike in May, but I think the economy is showing resilience.”

The market is now pricing in an 88.7% chance of the Fed raising its benchmark lending rate to around 5.00%-5.25% when policymakers conclude their two-day meeting on May 3, up from 78%.

Fed funds futures also show expectations that the Fed will start cutting interest rates in September. The outlook for US interest rates compared to other countries' monetary policies and economies can boost or undermine the greenback's value.

In contrast, the euro fell 0.66 percent to $1.0926 after hitting a one-year high of $1.108 on April 14. Investors are expecting further interest rate hikes from the European Central Bank as concerns about last month's banking crisis have faded.

USD exchange rate today (April 18): World USD increases, domestic USD plummets. Illustration photo: Reuters

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on April 17, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 11 VND, currently at: 23,577 VND.

* The reference exchange rate at the State Bank's transaction office for buying and selling remains unchanged at: 23,450 VND - 24,780 VND.

USD exchange rates at commercial banks for buying and selling are as follows: