Foreign exchange rates on May 15: USD increases sharply

Illustration photo. Photo: Internet

USD exchange rate on the world market

The Dollar Index (DXY) - measuring the strength of the greenback against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) - recorded 101.86 points, up 0.63 points from May 14, 2025.

The dollar index jumped more than 1% early in the week, hitting a one-month high, thanks to a provisional agreement between the US and China to reduce reciprocal tariffs, helping to ease concerns about a global recession caused by trade tensions between the world’s two largest economies . However, the dollar retreated after the consumer price index (CPI) came in lower than expected as falling food prices helped offset some of the rise in rents.

"What we've seen since the Fed stopped cutting rates is that markets, especially money markets, have become very sensitive to inflation numbers. We're moving from concerns about inflation in the US, which is on track, to expectations that economic growth could pick up again," said Joseph Trevisani, senior analyst at FX Street in New York.

The US dollar index, which measures the greenback against a basket of major currencies, edged down 0.25% to 100.73. The euro also rose 0.25% to $1.1212.

As the trade conflict has eased, investors have adjusted their expectations for a possible Federal Reserve rate cut this year. LSEG data shows that markets now see a 74% chance of a cut of at least 25 basis points at the Fed’s September meeting, instead of July as previously predicted.

Many major financial institutions such as Goldman Sachs, JPMorgan and Barclays have recently revised down their forecasts for a possible US recession, while reducing expectations that the Fed will ease monetary policy.

Chicago Fed President Austan Goolsbee said that although the April consumer inflation data was moderate, it did not fully reflect the impact of the US import tax increase, so the Fed still needs more information to make more accurate forecasts about price and economic trends.

Fed Vice Chairman Philip Jefferson made a similar assessment, saying that recent data showed positive signs of reaching the 2% inflation target, but there were still many unknowns related to the possibility that new import tariffs could cause prices to rise again.

Against the Japanese yen, the dollar weakened 0.89% to 146.16 yen. Meanwhile, the British pound edged down 0.1% to trade at $1.3291.

The foreign exchange market is also paying attention to information from the meeting between South Korean Vice Finance Minister Choi Ji-young and US Treasury Department ’s Robert Kaproth on May 5. This meeting contributed to pushing the Korean won to a one-week high against the US dollar.

The South Korean won rose 1.53% to 1,394.64 won per dollar.

In a note to clients, Goldman Sachs analysts said that while the meeting was short on details and likely part of routine talks, "it has refocused the market on the possibility that undervalued trade surplus currencies will have an opportunity to appreciate as the dollar weakens."

Markets are now looking ahead to a slew of US economic data due out on Thursday, including jobs, another inflation reading, consumer spending and comments from Fed Chairman Jerome Powell.

Domestic USD exchange rate

In Vietnam, on the morning of May 15, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD remained unchanged at 24,973 VND.

At the State Bank of Vietnam, the buying and selling rates remained unchanged at VND23,775 - VND26,171.

At Vietcombank, the USD exchange rate is listed at 25,730 - 26,120 VND/USD, down 20 VND compared to the previous session.

VIB Bank listed the lowest USD cash purchase price at 25,340 VND, while the transfer purchase price was at 25,400 VND.

HSBC Bank has the highest cash and transfer purchase price of VND 25,846.

VIB Bank sells USD cash at the lowest price of 25,760 VND, and sells transfers at the same price.

Saigonbank offers the highest USD cash selling price of 26,220 VND, while NCB sells by transfer at 26,198 VND.

The EUR exchange rate at the State Bank of Vietnam is currently at 26,556 VND - 29,351 VND for buying and selling, respectively.
The Japanese Yen exchange rate here also increased slightly, currently at the buying and selling rates of 161 VND - 178 VND respectively.

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Source: https://doanhnghiepvn.vn/kinh-te/ty-gia-ngoai-te-ngay-15-5-usd-tang-manh/20250515070854598