Meanwhile, in the US market, the US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose 0.29%, reaching 102.86.
Today's USD exchange rate worldwide
The US dollar rose to a seven-week high in the last trading session, driven by optimism about a debt ceiling agreement, amid a series of positive economic data suggesting that interest rate cuts by the Federal Reserve may happen later.
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| Chart showing the fluctuations of the DXY Index over the past 24 hours. Image: Marketwatch. |
Helen Given, a foreign exchange trader at Monex USA in Washington, said: “There are currently a number of factors driving the dollar. Progress in debt ceiling negotiations, better-than-expected economic data from the US, and hawkish comments from some Fed officials are all contributing to supporting the dollar.”
On May 17, US President Joe Biden and House Speaker Kevin McCarthy emphasized their determination to reach an agreement soon to raise the federal government 's debt ceiling of over $31 trillion and avoid a catastrophic economic default.
Joe Manimbo, senior market analyst at Convera in Washington, said: “Debt ceiling negotiations appear to be supporting the dollar, regardless of how they unfold. A continued stalemate tends to push the USD into the safe haven.”
Meanwhile, US economic data was generally positive, despite some slowdowns in other economies, supporting the view that interest rates will remain higher for longer. Specifically, data released on May 17th showed that US single-family home construction increased in April, with an annual increase of 1.6%. In addition, US industrial production also increased by 1% last month, exceeding expectations and showing a slight increase compared to March.
Meanwhile, the euro fell to its lowest level in six weeks against the dollar, at $1.0811.
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| Today's USD exchange rate (May 18): The US dollar rises, reaching the important milestone of 103. Illustration photo: Reuters. |
Domestic USD exchange rate today
On the domestic market, at the end of the trading session on May 17th, the State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the US Dollar increased slightly by 4 dong, currently at: 23,656 dong.
* The reference exchange rate at the State Bank of Vietnam's exchange floor increased slightly for buying and selling, currently at: 23,450 VND - 24,788 VND.
The USD exchange rates at commercial banks for buying and selling are as follows:
USD exchange rate | Buy | Sell |
Vietcombank | 23,285 VND | 23,625 VND |
Vietinbank | 23,245 VND | 23,665 VND |
MB | 23,300 VND | 23,600 VND |
* The Euro exchange rate at the State Bank of Vietnam's exchange desk decreased slightly, with buying and selling rates at 24,424 VND – 26,995 VND.
The Euro exchange rates at commercial banks for buying and selling are as follows:
Euro exchange rate | Buy | Sell |
Vietcombank | 25,084 VND | 26,224 VND |
Vietinbank | 24,578 VND | 25,868 VND |
MB | 25,063 VND | 26,195 VND |
MINH ANH
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