Foreign exchange rates today, May 23: USD regains slight upward momentum

World currency exchange rates

In the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.34% to 99.90.

The US dollar rose on Friday after three straight days of declines, partly thanks to the passage of President Donald Trump’s tax and spending cuts bill by the House of Representatives, while the euro fell after data showed a bleak economic picture for the region.

President Trump’s sweeping tax bill would add to the nation’s ballooning debt. To offset some of the revenue lost from the new tax and spending cuts, the bill would slash Medicaid and SNAP, largely through work requirements.

The bill will now move to the Senate for consideration. If enacted, the Congressional Budget Office (CBO) estimates, it would result in about 8.6 million people losing Medicaid and an additional 3 million people losing SNAP each month.

The CBO also estimates that the bill’s tax provisions would increase the federal deficit by $3.8 trillion over a decade, while changes to Medicaid, SNAP and other services would save only about $1 trillion.

Meanwhile, the euro fell 0.3 percent against the dollar to $1.1293, after rising for three consecutive sessions. The preliminary composite PMI released by the HCOB showed that business activity in the eurozone unexpectedly contracted this month.

“This weak data signals a dim near-term economic outlook for Europe, as the impact of Trump’s tariffs is slowly being felt and a trade deal remains a long way off,” said Harry Woolman, head of global markets at Validus Risk Management.

The pound edged up 0.1% to $1.3434, hovering near a three-year peak hit on Wednesday, after higher-than-expected inflation dampened expectations of a Bank of England (BoE) interest rate cut.

Domestic foreign exchange rates

In the domestic market, at the beginning of the trading session on May 23, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 7 VND, currently at 24,955 VND.

The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,758 VND - 26,152 VND.

USD exchange rates at commercial banks are as follows:

At Vietcombank, the USD exchange rate is 25,760 - 26,150 VND/USD, up 10 VND in both directions, compared to yesterday's trading session.

VIB Bank is buying USD cash at the lowest price: 1 USD = 25,340 VND; buying USD transfer at the lowest price: 1 USD = 25,400 VND

VIB Bank is selling USD cash at the lowest price: 1 USD = 25,760 VND; selling USD transfer at the lowest price: 1 USD = 25,760 VND

HSBC Bank is buying USD cash at the highest price: 1 USD = 25,857 VND; buying USD transfer at the highest price: 1 USD = 25,857 VND

Eximbank is selling USD cash at the highest price: 1 USD = 26,200 VND. ABBank and NCB are selling USD transfers at the highest price: 1 USD = 26,200 VND.

Source: https://baodaknong.vn/ty-gia-ngoai-te-hom-nay-23-5-dong-usd-lay-lai-da-tang-nhe-253386.html