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 by 0.33% to 104.21.

USD exchange rate in the world today

The US dollar rose for a fourth straight session and hit a two-month high, as fresh US data pointed to a resilient economy even after the Federal Reserve’s “massive” interest rate hikes.

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

The number of Americans filing for unemployment benefits rose 4,000 last week to 229,000, below a Reuters estimate of 225,000, while data from the previous week was revised significantly lower, a sign that the labor market shows few signs of cracking.

“We’re definitely not going to see the recession that people are talking about in 2023, so in that scenario, the rates will go higher,” said Erik Bregar, director of FX and precious metals risk management at Silver Gold Bull in Toronto. “The momentum is definitely tilted toward the greenback.”

Recent comments from Fed officials suggest there are two camps of opinion on whether to continue raising interest rates. Boston Federal Reserve President Susan Collins said on May 25 that it may be time for the US central bank to pause its rate-hike cycle; while Richmond Fed President Tom Barkin said the Fed is in the process of “testing and learning” to curb inflation.

Concerns about a possible US debt default have supported the greenback recently, as talks continue in Washington to raise the $31.4 trillion debt ceiling.

According to the CME Fedwatch Tool, the market is currently pricing in about a 53% chance that the Fed will raise rates by 25 basis points at its June meeting.

In contrast, the German economy, Europe's largest, fell into recession in the first quarter as GDP fell 0.3%, causing the euro to fall. Accordingly, the euro fell 0.31% to $1.0715.

Meanwhile, the Japanese yen fell 0.52% against the greenback to 140.16.

USD exchange rate today (May 26): USD continues to increase rapidly, reaching 104. Illustration photo: Reuters.

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on May 25, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 12 VND, currently at: 23,696 VND.

* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,400 VND - 24,830 VND.

USD exchange rates at commercial banks are as follows:

USD exchange rate

Buy

Sell

Vietcombank

23,300 VND

23,640 VND

Vietinbank

23,265 VND

23,685 VND

BIDV

23,325 VND

23,625 VND

* The Euro exchange rate at the State Bank's exchange office for buying and selling slightly decreased to: 24,202 VND - 26,749 VND.

Euro exchange rates at commercial banks are as follows:

Euro exchange rate

Buy

Sell

Vietcombank

24,807 VND

25,934 VND

Vietinbank

24,311 VND

25,601 VND

BIDV

24,804 VND

25,924 VND

MINH ANH