USD exchange rate in the world last week
The USD Index (DXY), which measures the greenback's performance against six major currencies, stood at 102.71, up 1.47%.
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| Chart of DXY Index fluctuations over the past week. Photo: Marketwatch. |
The dollar rose 0.46% to 101.66 in the first two trading sessions of the week as investors looked to US inflation data for a better picture of the Federal Reserve's interest rate hike path. A quarterly survey conducted by the Fed showed that banks continued to tighten credit and business lending demand fell. Analysts said that any policy adjustment by the Fed would have to be considered in the context of the recent turmoil surrounding the US banking sector and the issue of raising the debt ceiling in this country.
The DXY index fell to 101.42 as new data showed inflation cooled from the previous month, leaving traders uncertain about the outlook for U.S. monetary policy. The U.S. Labor Department reported on May 10 that annual consumer price increases fell below 5 percent in April for the first time in two years. That could give the central bank the impetus to pause further rate hikes next month. But with inflation still above the Fed's 2 percent target, rates may need to stay high for some time. Fed funds futures traders are holding off on pricing in a rate cut expected in September. The Fed's target range is 5 percent to 5.25 percent.
The greenback surged to 102.71 on May 12 and 13, posting its biggest weekly gain since February as investors turned to safe-haven assets. 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 weigh on the Fed's intention to pause interest rate hikes.
In contrast, the pound fell 0.5% to $1.2448, while the euro weakened, down 0.6% to $1.0851.
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| USD exchange rate today, May 14: USD sets a strong weekly increase. 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 |
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
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