On the morning of May 29.5, the central exchange rate between VND and USD announced by the State Bank of Vietnam was 23.712 dong, an increase of only 1 dong compared to the end of last week. The USD price at commercial banks fluctuated in opposite directions. For example, Eximbank kept the buying price at 23.250 dong, selling it at 23.630 dong; Vietcombank decreased by 10 dong when buying to 23.280 dong and selling 23.650 dong.
Similarly, the free dollar price turned back down from 10-30 dong compared to last week, bringing the buying price down to 23.450 dong and selling price down to 23.530 dong. Free USD is still 100 - 120 VND lower than the selling price of commercial banks.
USD price in the morning of 29.5 in the country turned to decrease
The international USD price continued to gain momentum when the USD-Index at the beginning of the week increased to 104,28 points, plus 0,05 points compared to the end of last week. The greenback remains bullish as traders anticipate the possibility that US interest rates will stay higher for longer. The core consumer price index (PCE) in April increased by 4% – higher than expected and compared with the previous figure. This is still much higher than the target of bringing inflation to 4,4% that the US Federal Reserve (Fed) has been aiming for since more than a year before starting the process of raising interest rates. This reinforces the prediction that the Federal Reserve (Fed) in the next policy meeting in June is unlikely to pause raising interest rates.
Besides, the agreement to raise the US debt ceiling is coming to an end. According to CNBC, late on May 27.5, US House of Representatives Speaker McCarthy said that he had spoken with US President Joe Biden twice about this agreement and expected to complete the bill for a vote on May 31.5. The deal "includes historic spending cuts, reforms that will lift people out of poverty and into the workforce, and rein in government abuses," the speaker said. There will be no new taxes or new programs from the Government”…
