Domestic down, against the world

On the morning of May 29, the central exchange rate between VND and USD announced by the State Bank was 23,712 VND, up only 1 VND compared to the end of last week. USD prices at commercial banks fluctuated in opposite directions. For example, Eximbank kept the buying price unchanged at 23,250 VND and the selling price at 23,630 VND; Vietcombank reduced the buying price by 10 VND to 23,280 VND and the selling price at 23,650 VND.

Similarly, the free USD price decreased by 10 - 30 VND compared to the end of last week, bringing the buying price down to 23,450 VND and the selling price down to 23,530 VND. The free USD is still 100 - 120 VND lower than the selling price of commercial banks.

USD price in the country on the morning of May 29 turned to decrease

The international USD price continued to increase when the USD-Index rose to 104.28 points early this week, up 0.05 points compared to the end of last week. The greenback continued to increase as traders predicted that US interest rates would remain higher for longer. The core consumer price index (PCE) in April increased by 4.4% - higher than expected and compared to the same period last year. This is still much higher than the target of bringing inflation to 2% that the US Federal Reserve (Fed) has been aiming for since more than a year ago when it started raising interest rates. This further strengthens the prediction that the Federal Reserve (Fed) will not be able to pause raising interest rates at its policy meeting in June.

In addition, the agreement to raise the US debt ceiling is about to come to an end. According to CNBC , at the end of May 27, US House Speaker McCarthy said he had discussed this agreement with US President Joe Biden twice and expected to complete the bill for a vote on May 31. The US House Speaker shared that the agreement "includes historic spending cuts, reforms that will help people escape poverty and join the workforce, and control government abuses. There will be no new taxes or new government programs"...

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