USD exchange rate today 5/23: USD is improving

Meanwhile, 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 slightly by 0.04% to 103.24.

USD exchange rate in the world today

The US dollar rose slightly on Monday as investors awaited fresh data to gauge whether the US Federal Reserve is likely to continue raising interest rates, while also monitoring news on the debate surrounding the US debt ceiling.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch.

The greenback rose slightly after St. Louis Fed President James Bullard said on May 22 that the Fed may still need to raise its benchmark interest rate by half a point this year. Meanwhile, San Francisco Fed President Mary Daly said it was too early to say whether the Fed would cut interest rates, emphasizing that the US central bank would raise interest rates at its policy meeting on June 13-14.

Investors are also focused on negotiations to raise the US debt ceiling. US President Joe Biden and House Speaker Kevin McCarthy will meet early this week to discuss the debt ceiling issue.

The greenback has rallied in the past two weeks as stronger-than-expected economic reports and hawkish Fed officials kept the prospect of rate hikes alive. “The greenback has had a nice two-week rally on rising U.S. interest rates,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. However, comments from Fed Chairman Jerome Powell on May 19 that suggested a possible rate cut sent the greenback slightly lower.

The euro rose 0.12 percent to $1.0819, after hitting a more than seven-week low of $1.0760 on May 19. The greenback gained 0.46 percent against the Japanese yen, currently at 138.55 yen. The British pound was little changed at $1.2442.

USD exchange rate today (May 23): USD improves in the first session of the week. Illustration photo: Reuters.

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on May 22, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased slightly by 4 VND, currently at: 23,684 VND.

* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,400 VND - 24,818 VND.

USD exchange rates at commercial banks are as follows: