USD exchange rate today (June 11): USD continues to decline this week

USD exchange rate today (June 11): Early morning of June 11, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD decreased slightly by 5 VND, currently at: 23,717 VND.

USD exchange rate in the world last week

The USD Index (DXY), which measures the greenback's performance against six major currencies, stood at 103.55, down 0.44%.

Chart of DXY Index fluctuations over the past week. Photo: Marketwatch.

The dollar fell 0.02% to 104 in early trading on Monday as data showed the U.S. services sector barely grew in May as new orders slowed, ending an initial recovery driven by strong job growth. The Institute for Supply Management (ISM) said its non-manufacturing PMI fell to 50.3 in May from 51.9 in April. Economists had forecast a rise to 52.2.

The next day (June 7), the DXY index rose again and reached 104.13, as investors focused on assessing the possibility that the US Federal Reserve (Fed) will continue to raise interest rates. Accordingly, the Fed is predicted to be able to pause raising interest rates in June in the context of interest rates having many impacts on the US economy, with a 65% chance of interest rates increasing at least 25 basis points in July.

However, the greenback fell to 103.32 on June 8 and 9 after new data showed a larger-than-expected rise in US jobless claims ahead of the Fed's June interest rate meeting next week. The greenback has been supported by expectations that the Fed will raise interest rates in July, although many believe the Fed will pause at the end of its June 13-14 meeting. However, weak economic data could limit the number of rate hikes, even as inflationary pressures remain high.

The dollar bounced off a two-week low hit in the previous session on June 10 as investors awaited inflation data and the Federal Reserve’s interest rate decision next week. The greenback was largely trading in a narrow range as investors awaited clearer signs of whether the economy would remain strong and whether inflation would pick up or fall.

In contrast, the euro fell 0.30% against the dollar to $1.0749. The European Central Bank is expected to raise eurozone interest rates by 25 basis points to 3.50% at its meeting next week.

USD exchange rate today, June 11: USD continues to decline this week. Illustration photo: Reuters.

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on June 9, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased slightly by 3 VND, currently at: 23,717 VND.

* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,400 VND - 24,852 VND.

USD exchange rates at commercial banks are as follows: