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| Foreign exchange rates today, May 29: USD, EUR, AUD, CAD, Japanese Yen, British Pound... The greenback is jumping. (Source: Topfix) |
Foreign exchange rates today 5/29
The central exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of May 29 was announced by the State Bank at 23,712 VND/USD, an increase of 1 VND compared to the end of last week.
With the +/- 5% margin currently applied, the ceiling rate applied by banks today is 24,897 VND/USD and the floor rate is 22,526 VND/USD.
At commercial banks this morning, the USD price decreased, while the Chinese Yuan (CNY) increased.
At 8:15 a.m., the greenback price at Vietcombank was listed at 23,280 - 23,650 VND/USD (buy - sell), down 10 VND in both buying and selling compared to the closing price at the end of last week.
The listed CNY price is 3,255 - 3,395 VND/CNY (buy - sell), up 2 VND for buying and 3 VND for selling compared to the closing price at the end of last week.
At BIDV, the USD price is listed at 23,330 - 23,630 VND/USD (buy - sell), unchanged from the end of last week's session.
The price of CNY at this bank is listed at 3,269 - 3,379 VND/CNY (buy - sell), an increase of 8 VND for buying and 6 VND for selling compared to the closing price at the end of last week.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply for import and export from May 25 to May 31 |
| 1 | EUR | Euro | 24,526.45 | 25,899.79 | 25,524.25 |
| 2 | JPY | Japanese Yen | 162.18 | 171.70 | 170.77 |
| 3 | GBP | British Pound | 28,234.82 | 29,438.76 | 29,481.84 |
| 4 | AUD | Australian Dollar | 14,934.12 | 15,570.91 | 15,591.18 |
| 5 | CAD | Canadian Dollar | 16,815.23 | 17,532.24 | 17,509.98 |
| 6 | RUB | Russian Ruble | 282.84 | 313.14 | 295.68 |
| 7 | KRW | Korean Won | 15.30 | 18.65 | 17.97 |
| 8 | INR | Indian Rupee | 283.56 | 294.93 | 286.30 |
| 9 | HKD | Hong Kong Dollar (China) | 2,920.77 | 3,045.31 | 3,023.27 |
| 10 | CNY | Chinese Yuan China | 3,269 .00 | 3,379.00 | 3,379.56 |
(Source: State Bank, Vietcombank)
Exchange rate developments in the world market
In the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) was at 104.23, up 1.00%.
Specifically, the greenback exchange rate increased, the Euro was inversely proportional.
The greenback continued to rally strongly last week, as expected. The DXY index held well above 103 and closed the week above 104, marking its third consecutive weekly gain. The rally could continue well into the future.
The DXY rally to 105 that was mentioned last week is playing out as expected. Support for the greenback next week is at 103.50. The DXY is likely to test 105 this week. A strong breakout above 105 would establish a bullish bias towards 106 in the coming weeks. Therefore, price action around 106 will be crucial in determining the direction of the USD in the future.
Elsewhere, the euro fell to 1.07, hitting a low of 1.0702 before recovering slightly from there. The euro needs to hold above 1.07 to regain momentum, possibly rising to 1.08 or 1.09 in the near term. However, further gains beyond 1.09 are unlikely.
So, from a big picture perspective, the Euro is likely to remain below 1.09 and eventually break 1.07. Such a break would take the Euro down to 1.05 in the medium term.
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