The US dollar continues its upward trend.

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 0.32% to 107.56. Domestically, the central exchange rate of the Vietnamese Dong against the USD increased by 30 dong, currently standing at 24,726 dong.

World exchange rates

The US dollar continued its upward trend, while the euro fell in the last trading session, after a meeting between Ukrainian President Volodymyr Zelensky and US President Donald Trump dashed hopes of any peace agreement being reached soon in the Russia-Ukraine conflict.

Reportedly, Zelensky left the White House early after the meeting without signing an agreement on the joint development of natural resources between Ukraine and the United States.

“Hope for a peace agreement or ceasefire between Russia and Ukraine is probably not achievable right now, which will bring instability to the currency markets,” said Jack Mcintyre, portfolio manager at Brandywine Global in Philadelphia.

The euro fell after the meeting, closing down 0.29% at $1.0367, after dropping to $1.0359, its lowest level since February 12. Prior to this, after months of declines from its more than one-year high in September, the euro had shown signs of stabilization, partly due to hopes of a peace agreement.

The US dollar initially edged lower in trading, after inflation data largely matched investor expectations, while consumer spending unexpectedly declined.

Accordingly, the Personal Consumption Expenditures (PCE) price index rose 0.3% in January, in line with economists ' expectations in a Reuters poll, after a 0.3% increase in December. In the 12 months to January 2025, the PCE index increased 2.5%, following a 2.6% increase in December. However, consumer spending, which accounts for more than two-thirds of U.S. economic activity, declined 0.2% in January, after rising 0.8% in December. The DXY index subsequently closed the trading session up 0.23%, at 107.61.

Over the week, the US dollar rose by about 0.9%, but fell 0.8% in February, paving the way for its biggest monthly decline since September 2024.

Expectations that the Federal Reserve will cut interest rates by at least 25 basis points at its June meeting have risen following the PCE data. The market is pricing in a 79.1% probability of a Fed rate cut, up from nearly 70% in the previous session, according to CME's FedWatch Tool.

Fed officials have recently expressed expectations that the central bank will keep interest rates unchanged until there is greater clarity on the impact of tariffs on inflation, as well as signs that the U.S. economy is slowing down.

Earlier this week, the dollar fell nearly 4% from its more than two-year high in January, amid concerns about economic growth and inflation in the US, as US President Donald Trump changed the deadline for imposing tariffs on Canada and Mexico.

On February 27, Mr. Trump announced that the proposed 25% tariffs on goods from Mexico and Canada would take effect on March 4, along with an additional 10% tariff on imports from China.

The Canadian dollar fell 0.14% against the US dollar in the last trading session, to 1.45 CAD; while the Mexican peso fell 0.3% against the US dollar, to 20.557.

Against the Japanese yen, the US dollar rose 0.53% to 150.59, but has fallen nearly 3% this month, as investors largely expect the Bank of Japan to raise interest rates this year.

The British pound weakened by 0.23%, falling to $1.2568.

Domestic foreign exchange rates

In the domestic market, at the start of trading on March 1st, the State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the US Dollar had increased by 30 dong, currently standing at 24,726 dong.

* The reference exchange rate at the State Bank of Vietnam's exchange floor increased slightly for buying and selling, currently at: 23,540 VND - 25,912 VND.

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

* The EUR exchange rate at the State Bank of Vietnam's exchange desk has slightly increased, currently standing at: 24,438 VND - 27,010 VND.

The EUR exchange rates at several commercial banks for buying and selling are as follows:

* The Japanese Yen exchange rate at the State Bank of Vietnam remains unchanged, currently at 157 VND - 174 VND (buying rate - selling rate).

The buying and selling rates for the Japanese Yen at several commercial banks are as follows:

Source: https://baodaknong.vn/ty-gia-ngoai-te-hom-nay-1-3-dong-usd-tiep-da-tang-244258.html