USD exchange rate today August 5: USD continues to fall in value this week
USD exchange rate today, August 5, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD is currently at: 24,242 VND. The USD Index (DXY), measuring the greenback's fluctuations against 6 major currencies, stood at 103.22.
Domestic USD exchange rate today August 5
Opening the trading session on August 5, the central exchange rate between the Vietnamese Dong and the US dollar was listed by the State Bank of Vietnam at 24,242 VND/USD.
The reference exchange rate at the State Bank's Transaction Office remains stable with the buying rate at 23,400 VND and the selling rate at 25,450 VND.
USD exchange rates at commercial banks for buying and selling are as follows:
Vietcombank is currently offering a stable USD exchange rate, with the buying price from 25,010 VND/USD and the selling price at 25,380 VND/USD, unchanged from the previous session.
BIDV announced to keep the USD buying and selling rates unchanged, with prices ranging from 25,060 to 25,400 VND/USD.
Vietinbank announced the USD buying rate at 24,940 VND/USD and the selling rate at 25,390 VND/USD, unchanged from the most recent trading session.
Eximbank maintained the USD buying and selling prices unchanged, listed from 25,020 to 25,390 VND/USD.
| USD exchange rate | Buy | Sell out |
| Vietcombank | 25,010 VND | 25,380 VND |
| Vietinbank | 24,940 VND | 25,390 VND |
| BIDV | 25,060 VND | 25,400 VND |
Forecast of USD trend this week
World USD exchange rate today August 5, USD value is stable in the international market, unchanged compared to the last trading session of last week.
Last week, the Dollar-Index fell 1.15% to 103.220 points.
The decline in the US dollar and US Treasury yields last week was caused by the decision of the US Federal Reserve (Fed) to keep interest rates unchanged on July 31, along with signs of a possible rate cut in September.
The yield on the 10-year US Treasury note fell from 4.15% to 4.03% following the Fed's announcement, while the newly released manufacturing PMI and employment figures showed a more-than-expected decline, putting pressure on the USD.
The manufacturing PMI fell from 48.5 to 46.8, and the unemployment rate rose from 4.1% to 4.3%, raising concerns about a possible recession in the US.
The 10-year US Treasury yield is currently below 4%, with the possibility of falling to 3.5% in the near term, reflecting a negative outlook for the market. This needs to be closely monitored to properly assess the impact on the USD.
The DXY index is facing support at 103. Any recovery attempt is likely to face resistance at 103.7 and 104.2.
The short-term outlook is bearish. The DXY index is likely to fall below 103, then 102.
Meanwhile, the Euro (EUR) saw a surge, climbing from 1.0780 to 1.09 over the weekend, thanks to the weakening dollar.
However, the Euro is facing strong resistance at 1.0950, and it will be interesting to see if EUR/USD can break above this level.
Overall, the short-term trend for EUR looks positive, with a potential break above 1.0950 and a move towards the 1.10-1.11 area. If EUR declines from 1.0950, it could potentially return to 1.08.
