USD exchange rate today (June 25): USD "reverses the trend" and increases again

USD exchange rate today (June 25): Early morning of June 25, the State Bank announced the central exchange rate of Vietnamese Dong to USD increased by 21 VND, currently at: 23,732 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 102.87, up 0.61%.

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

The dollar continued its gains from the previous week, rising 0.25% to 102.49. Currency moves have been dominated by efforts by central banks around the world to curb high inflation, with the DXY index posting its biggest weekly decline since January last week after the US Federal Reserve skipped a rate hike in June.

The greenback edged up against the euro on Friday after new data showed U.S. housing starts picking up, as traders await testimony from Fed Chairman Jerome Powell for more clarity on the outlook for monetary policy.

However, on June 22, the DXY index fell 0.46% to 102.08, after comments from Chairman Jerome Powell on the central bank's fight against inflation fell short of market expectations. Accordingly, the head of the Fed shared that the fight against inflation still has "a long way to go", and although recent interest rate hikes have been paused, borrowing costs may need to rise further. He also emphasized that although inflation is still far from the Fed's target, the Fed may still need to raise interest rates at a more moderate pace.

The greenback resumed gains in the final two trading days of the week (June 23 and 24), returning to near 103, after dismal business activity data from around the world boosted risk sentiment and as hawkish comments from central banks added pressure to riskier currencies. US business activity fell to a three-month low in June, data released on June 23 showed, as services growth contracted for the first time this year and a deepening contraction in the manufacturing sector.

In contrast, the euro fell 0.57% to $1.08925, its lowest in three days against the dollar. Against the Japanese yen, the dollar rose 0.44% to 143.76 yen, its highest in more than seven months. The Japanese currency came under renewed pressure as the Bank of Japan (BOJ) maintained its ultra-dovish stance. Meanwhile, the pound fell 0.30% to $1.271.

USD exchange rate today June 25: USD "swims against the current" to increase again. Illustration photo: Reuters.

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on June 23, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD unchanged, currently at: 23,732 VND.

* The reference exchange rate at the State Bank's transaction office remains unchanged, currently at: 23,400 VND - 24,868 VND.

USD exchange rates at commercial banks are as follows: