Foreign exchange rates today May 28: USD is on the rise

The dollar strengthened as the Japanese yen came under pressure from a drop in Japanese long-term bond yields, while the greenback was further supported by data showing improved U.S. consumer confidence.

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 0.45% to 99.56.

The US dollar rebounded in the last trading session, as the yen came under pressure from sharp losses, while the greenback was boosted by improving US consumer confidence data.

According to Bloomberg, Japan's Finance Ministry has sent a survey on issuance and current market issues. Two sources told Reuters that Japan is considering cutting back on ultra-long-term bonds after yields on these bonds surged due to a drop in demand from traditional investors such as life insurers and concerns about rising government debt spread across global markets.

Against this backdrop, the dollar rose 1% to 144.26 yen. The euro fell 0.27% to $1.1356. The dollar continued to rise after data showed U.S. consumer confidence in May beat analysts' forecasts. Meanwhile, the euro was negatively affected as inflation in France fell to its lowest level since December 2020.

The dollar was also supported after US President Donald Trump on Sunday announced the withdrawal of a plan to impose a 50% tariff on imports from the European Union starting next month, a decision the EU said breathed new life into trade talks.

Investors are concerned that tariffs will hurt growth and could spark a resurgence of inflation, although traders have become less pessimistic about the U.S. economic outlook since the U.S. and China reached a deal earlier this month to roll back tit-for-tat tariffs.

However, in the long term, the US's protectionist stance on trade is expected to continue to put pressure on the USD.

Domestic foreign exchange rates

In the domestic market, at the beginning of the trading session on May 28, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 5 VND, currently at 24,935 VND.

The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,739 VND - 26,131 VND.

USD exchange rates at commercial banks are as follows:

At Vietcombank, the USD exchange rate is 25,710 - 26,100 VND/USD, up 10 VND in both directions, compared to yesterday's trading session.

VietBank is buying USD cash at the lowest price: 1 USD = 25,050 VND; buying USD transfer at the lowest price: 1 USD = 25,080 VND

HSBC Bank is buying USD cash at the highest price: 1 USD = 25,798 VND; buying USD transfer at the highest price: 1 USD = 25,798 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

Saigonbank is selling USD cash at the highest price: 1 USD = 26,180 VND. ABBank is selling USD transfers at the highest price: 1 USD = 26,180 VND

Source: https://baodaknong.vn/ty-gia-ngoai-te-hom-nay-28-5-dong-usd-khoi-sac-253833.html