Foreign exchange rates on May 19th: USD highest in 5 months.
The exchange rate on May 19th is at its highest level in 5 months after rising to 93.46.
As of the start of trading (Vietnam time), on the global market, the US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major 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, driven by rising bond yields reaching a seven-year high. Yields on 10-year Treasury bonds fell to 3.104 after touching an overnight high of 3.126. The USD traded at a five-month high against a basket of major currencies during the session, thanks to 10-year U.S. Treasury yields hitting a seven-year high.
Rising bond yields reflect investor optimism about the US economy, reinforcing speculation that the Federal Reserve will raise interest rates at least two more times this year.
While the euro is fluctuating near its lowest level in five months due to concerns that geopolitical developments in Italy could stifle the common market, experts believe the US dollar is likely to remain strong against the yen and euro in the near future.
At the close of trading last week, the State Bank of Vietnam 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's exchange floor is currently 22,700 VND (unchanged) for buying and 23,248 VND (up 23 VND) for selling. Vietcombank, Vietinbank, ACB, and BIDV list the exchange rate at 22,740 VND (buying) and 22,810 VND (selling). Techcombank: 22,720 VND (buying) and 22,820 VND (selling).
