USD is back on track but hasn't peaked yet.

Foreign exchange rates, the USD/VND exchange rate today, June 14th, shows the US dollar strengthening as the US Federal Reserve (Fed) expresses a "hawkish" stance after its policy meeting since June 12th.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 23/06/2024 00:56 - Time of source website update
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,505.59	16,672.31	17,205.77
CANADIAN DOLLAR	CAD	18,123.37	18,306.44	18,892.18
SWISS FRANCE	CHF	27,825.49	28,106.56	29,005.88
YUAN RENMINBI	CNY	3,433.20	3,467.88	3,579.38
DANISH KRONE	DKK	But	3,585.83	3,722.84
EURO	CZ	26,546.33	26,814.47	27,999.61
POUND STERLING	GBP	31,379.47	31,696.44	32,710.62
HONG KONG DOLLAR	HKD	3,178.20	3,210.31	3,313.02
INDIAN RUPEE	INR	But	303.61	315.72
YEN	rush	155.28	156.85	164.33
Korean Won	KRW	15.84	17.60	19.19
KUWAITI DINAR	KWD	But	82,749.40	86,050.57
MALAYSIAN RINGGIT	MYR	But	5,340.02	5,456.05
NORWEGIAN KRONER	NOK	But	2,364.93	2,465.14
RUSSIAN RUBLE	RUB	But	277.20	306.84
SAUDI RIAL	SAR	But	6,765.27	7,035.16
SWEDISH KRONA	SEK	But	2,374.60	2,475.21
SINGAPORE DOLLAR	SGD	18,321.50	18,506.56	19,098.71
THAILAND BAHT	THB	612.10	680.11	706.09
US DOLLAR	cau	25,218.00	25,248.00	25,468.00

Exchange rate movements in the domestic market

On the domestic market, according to TGVN 's report at 7:30 AM on June 14th, the State Bank of Vietnam announced the central exchange rate of the Vietnamese Dong against the US Dollar at 24,245 VND, a decrease of 9 VND.

The reference USD exchange rate listed at the State Bank of Vietnam's Exchange Department is: 23,400 VND - 25,450 VND.

The USD exchange rates at commercial banks for buying and selling are as follows:

Vietcombank: 25,187 VND - 25,457 VND.

Vietinbank : 25,145 VND - 25,455 VND.

Foreign exchange rates, USD/VND exchange rate today, June 14th: USD returns to the 'race', but has not yet reached its peak. (Source: Reuters)

Exchange rate movements in the global market.

The Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 105.23, up 0.58%.

The US dollar rose after the Federal Reserve (Fed) expressed a hawkish stance at the conclusion of its policy meeting, which began on June 12.

Data released on June 13th showed that US producer prices unexpectedly fell in May, with the overall producer price index (PPI) declining 0.2% in May, after rising 0.5% in April. Core prices remained unchanged after also rising 0.5% the previous month.

This data follows the US Consumer Price Index (CPI) for May, released on June 12, which was lower than economists had predicted, triggering a sharp sell-off in the dollar.

Accordingly, CPI and PPI figures, along with Personal Consumption Expenditures (PCE) data, the Fed's preferred measure of inflation, may indicate slightly easing price pressures.

Marc Chandler, chief market strategist at Bannockburn Global Forex in New York, said: “Today’s PPI came out after the CPI and was lower than expected… this will impact the core PCE data to be released later this month.”

The US dollar recovered after Fed officials unexpectedly forecast only one interest rate cut this year and pushed the timing of the cut to December at the latest.

Fed Chairman Jerome Powell said that policymakers are prepared to keep interest rates unchanged until the economy sends clear signals that monetary policy needs adjustment.

However, according to CME Group's FedWatch Tool, Fed fund futures traders now see the possibility of two rate cuts this year, with the first cut in September considered to have a 68% probability.

The US dollar may remain supported due to the Fed's policy contrasting with that of other more dovish central banks.

Chandler said, "I think the dollar hasn't peaked yet. Political instability in Europe could help the dollar maintain its strength."

The euro closed down 0.65% at $1.0739. The currency had fallen to a low of $1.07195 on June 11th, its lowest level since May 2nd, before rising to $1.08523 on June 12th as the greenback weakened.

The yen also fell ahead of the Bank of Japan's two-day meeting on June 14, which will consider cutting bond purchases, a crucial first step toward reducing its nearly $5 trillion balance sheet.

In particular, the Yen has been subject to a significant differential between interest rates in Japan and the United States.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-146-usd-tro-lai-duong-dua-nhung-chua-dat-dinh-274869.html