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 0.29%, reaching 102.86.
USD exchange rate in the world today
The US dollar rose to a seven-week high on Tuesday, boosted by optimism over a debt ceiling deal, amid a slew of upbeat economic data that suggested a rate cut by the US Federal Reserve could come later.
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| DXY Index volatility chart over the past 24 hours. Photo: Marketwatch. |
“There are a number of factors driving the greenback right now,” said Helen Given, a foreign exchange trader at Monex USA in Washington. “Progress in debt ceiling talks, better-than-expected economic data from the U.S. and hawkish comments from some Fed officials are all helping to support the greenback.”
US President Joe Biden and House Speaker Kevin McCarthy on May 17 stressed their determination to reach an agreement soon to raise the federal government 's debt ceiling of more than $31 trillion and avoid an economically catastrophic default.
“Debt ceiling talks seem to be supporting the greenback, regardless of how they play out,” said Joe Manimbo, senior market analyst at Convera in Washington. “Continued deadlock tends to boost the safe-haven dollar.”
Meanwhile, U.S. economic data has been generally positive, despite some slowing economies, supporting the view that interest rates will stay higher for longer. Specifically, data on May 17 showed that U.S. single-family home construction increased in April, at an annual rate of 1.6%. In addition, U.S. industrial production also increased 1% last month, beating expectations and up slightly from March.
Meanwhile, the euro fell to a six-week low against the dollar, at $1.0811.
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| USD exchange rate today (May 18): USD increased to reach the important milestone of 103. Illustration photo: Reuters. |
Domestic USD exchange rate today
In the domestic market, at the end of the trading session on May 17, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased slightly by 4 VND, currently at: 23,656 VND.
* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,450 VND - 24,788 VND.
USD exchange rates at commercial banks are as follows:
USD exchange rate | Buy | Sell |
Vietcombank | 23,285 VND | 23,625 VND |
Vietinbank | 23,245 VND | 23,665 VND |
BIDV | 23,300 VND | 23,600 VND |
* The Euro exchange rate at the State Bank's buying and selling exchange center decreased slightly to: 24,424 VND - 26,995 VND.
Euro exchange rates at commercial banks are as follows:
Euro exchange rate | Buy | Sell |
Vietcombank | 25,084 VND | 26,224 VND |
Vietinbank | 24,578 VND | 25,868 VND |
BIDV | 25,063 VND | 26,195 VND |
MINH ANH
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