The US dollar fell slightly at the start of the week.

What is the exchange rate of 1 USD to VND today?

The State Bank of Vietnam's USD exchange rate today is 24,031 VND.

The current USD exchange rate at Vietcombank is 24,330 VND - 24,700 VND (buying rate - selling rate).

The current Euro exchange rate at Vietcombank is 26,054 VND - 27,484 VND (buying rate - selling rate).

The current exchange rate for the Japanese Yen is 160.90 VND - 170.30 VND (buying rate - selling rate).

The current exchange rate for the British Pound is 30,370 VND - 31,663 VND (buying rate - selling rate).

The exchange rate for the Chinese Yuan today is 3,339 VND - 3,482 VND (buying rate - selling rate).

Today's USD exchange rate

The US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), recorded a level of 103.19 points.

The US dollar edged lower in early week trading, with the USD Index falling 0.07%. Markets are still monitoring economic data to assess the Federal Reserve's next move. US economic activity continues to recover, despite interest rates at their highest levels in decades. Expectations of a rate cut in March are diminishing, particularly following comments from Fed officials last week. Prior to this, the dollar had been on a two-week winning streak.

San Francisco Fed President Mary Daly believes that the US economy and monetary policy are in "good territory" and it is too early to think about cutting interest rates.

According to the CME FedWatch tool, the probability of the Fed cutting interest rates in March is below 50%. The market is beginning to anticipate a rate cut in May.

Chris Weston, head of research at online brokerage Pepperstone, commented: "The core Personal Consumption Expenditures (PCE) index will be released later this week. Only then will the market be able to draw a clearer picture."

Analysts at NatWest Markets note that the USD is likely to continue to adjust amid threats to trade supply chains in geopolitical conflicts.

In Europe, the European Central Bank is expected to cut interest rates, but at a later time than the Fed. The central bank is projected to cut interest rates five times this year.

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