Reference exchange rates between the Vietnamese Dong and various foreign currencies at the Department of Foreign Exchange Management:
Vietcombank and BIDV both increased their selling rates by 2 dong and their buying rates by 12 dong, listing the USD at 26,119 - 26,389 VND/USD and 25,139 - 26,389 VND/USD respectively. Meanwhile, Techcombank listed the USD at 26,092 - 26,389 VND/USD, and VietinBank traded at 25,998 - 26,389 VND/USD.
In the free market, the USD exchange rate is trading around 26,460 VND/USD for buying and 26,510 VND/USD for selling, a decrease of 20 VND in both directions. The exchange rates for other major currencies in the international payment basket at Vietcombank are listed as follows:
On the international market, the US Dollar Index (DXY) is currently fluctuating around 99.35 points. The US dollar is appreciating as investors focus on the possibility of the US Federal Reserve (Fed) shifting to a more hawkish stance to curb inflation fueled by rising energy prices. In addition, uncertainties surrounding the prospects of a peace agreement in the Middle East are also contributing to cautious market sentiment.
The US dollar surged after Iran effectively closed the Strait of Hormuz, causing oil prices to skyrocket. This development put pressure on economies heavily reliant on energy imports, such as Japan and the eurozone, and boosted demand for safe-haven assets like the USD.
In addition, the USD is supported by rising US bond yields, amid market concerns about persistent inflation and uncertainty about how the new Fed Chairman, Kevin Warsh, will respond if price pressures continue to mount.
Eric Theoret believes the market is returning to fundamental factors, including inflation trends, the impact on bond markets, and how the Fed will respond. He suggests that Europe and the UK may tighten monetary policy at a slower pace, further supporting the strength of the US dollar.
Source: https://hanoimoi.vn/ty-gia-ngay-20-5-usd-tang-nhe-750802.html
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