Foreign exchange rate on May 19: USD highest in the past 5 months
The foreign exchange rate on May 19 was at its highest level in 5 months after increasing to 93.46.
As of the beginning of the trading session (Vietnam time), in the world market, the US Dollar Index (DXY), measuring the fluctuations of the greenback against 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.01% to 93.38.
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The dollar rose more than 1% this week as bond yields rose to a seven-year high. The yield on the benchmark 10-year Treasury note fell to 3.104 after hitting an overnight high of 3.126. The dollar traded at a five-month high against a basket of major currencies on the same session as the yield on the 10-year U.S. Treasury note hit a seven-year high.
Rising bond yields reflect investors' optimism about the US economy, reinforcing speculation that the US Federal Reserve will raise interest rates at least two more times this year.
While the euro hovered near a five-month low on concerns that geopolitical developments in Italy could disrupt the bloc, the dollar is likely to remain firm against the yen and euro in the near term, experts said.
At the end of last week's trading session, the State Bank announced the central exchange rate of the Vietnamese Dong against the US dollar at 22,590 VND.
The reference exchange rate at the State Bank of Vietnam is currently buying at 22,700 VND (unchanged) and selling at 23,248 VND (up 23 VND). Vietcombank, Vietinbank, ACB and BIDV listed the exchange rate at 22,740 VND (buying) and 22,810 VND (selling). Techcombank: 22,720 VND (buying) and 22,820 VND (selling).
