Global prices are falling, while domestic prices are skyrocketing.

Early morning on May 16th, the State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the US Dollar increased by 12 dong, reaching 23,652 dong.

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), fell 0.26% to 102.42.

Today's USD exchange rate worldwide

The US dollar fell from its five-week high in the last trading session as investors awaited news from the Washington administration regarding the resolution of the debt ceiling issue.

Chart showing the fluctuations of the DXY Index over the past 24 hours. Image: Marketwatch.

The greenback plunged early after data showed the New York Federal Reserve's Empire State Manufacturing Index fell from 10.8 in April to -31.8 this month. This is the largest drop since April 2020 and the lowest level since it fell to a three-year low of -32.9 in January.

The Empire State Manufacturing Index assesses the relative state of business in New York State. A score greater than 0.0 indicates that the situation is improving, while a score below 0.0 indicates that the situation is worsening.

"The market is in wait-and-see mode, awaiting clearer signals from the Washington administration regarding the US debt default," said Amo Sahota, director of Klarity FX, a foreign exchange consulting firm in San Francisco.

President Joe Biden is expected to meet with congressional leaders today, May 16th, before heading to Japan for the Group of Seven meeting. Earlier, House Speaker Kevin McCarthy warned that there has been no progress toward an agreement to lift the $31.4 trillion debt ceiling in negotiations with the White House.

Conversely, the euro rose 0.2% against the dollar, currently at $1.087. Against the Japanese yen, the dollar gained 0.3%, currently at 136.06.

Today's USD exchange rate (May 16): Global rates fall, domestic rates continue their rapid rise. Illustration: Reuters.

Domestic USD exchange rate today

On the domestic market, at the end of the trading session on May 15th, the State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the US Dollar increased by 12 dong, currently standing at 23,652 dong.

* The reference exchange rate at the State Bank of Vietnam's exchange floor (buying - selling) has increased, currently at: 23,450 VND - 24,784 VND.

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