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| Foreign exchange rates today, June 19: USD, EUR, Japanese Yen, British Pound... were 'abandoned' by the Fed, the greenback continued to fall dramatically. (Source: Freepik) |
The central exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of June 19 was announced by the State Bank at 23,697 VND, down 14 VND compared to the end of last week.
With the +/- 5% margin currently applied, the ceiling rate applied by banks today is 24,882 VND/USD and the floor rate is 22,511 VND/USD.
At commercial banks this morning, the prices of USD and CNY both decreased slightly.
At 8:45, at Vietcombank, the USD price was listed at 23,330 - 23,700 VND/USD (buy - sell), unchanged from the previous weekend's trading session.
The price of CNY at this bank is listed at 3,232 - 3,371 3,236 - 3,375 VND/CNY (buy - sell), down 4 VND in both buying and selling compared to the end of the trading session last weekend.
The greenback price at BIDV is listed at 23,370 - 23,670 VND/USD (buy - sell), down 10 VND in both buying and selling compared to the end of the trading session last weekend.
The listed CNY price is 3,246 - 3,356 VND/CNY (buy - sell), down 4 VND in both buying and selling compared to the end of the trading session last weekend.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply import and export from June 15-21 |
| 1 | EUR | Euro | 25,124.36 | 26,531.08 | 25,558.08 |
| 2 | JPY | Japanese Yen | 162.69 | 172.24 | 169.12 |
| 3 | GBP | British Pound | 29,379.38 | 30,632.01 | 29,873.85 |
| 4 | AUD | Australian Dollar | 15,807.32 | 16,481.29 | 16,030.68 |
| 5 | CAD | Canadian Dollar | 17,356.14 | 18,096.15 | 17,796.8 |
| 6 | RUB | Russian Ruble | 267.28 | 295.91 | 279.48 |
| 7 | KRW | Korean Won | 16.00 | 19.50 | 18.54 |
| 8 | INR | Indian Rupee | 286.57 | 296.85 | 287.93 |
| 9 | HKD | Hong Kong Dollar (China) | 2,932.49 | 3,057.53 | 3,026.43 |
| 10 | CNY | Chinese Yuan China | 3,246.00 | 3,356.00 | 3,307.65 |
(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 102.30, down sharply by 1.21%.
The greenback exchange rate on the international market fell sharply; the Euro was inversely proportional.
The greenback faced strong downward pressure last week when the US Federal Reserve (Fed) decided to keep interest rates unchanged at its policy meeting last week, maintaining them in the range of 5-5.25% as expected by the market.
However, the Fed also signaled that it would raise rates by another 50 basis points by the end of the year. The federal funds rate is expected to peak at 5.6% this year, up from 5.1% in the last set of forecasts released in March. Traders are now pricing in a 70% chance that the Fed will raise rates again next month after skipping a rate hike this month.
Elsewhere, while the Fed opted for a pause after 10 consecutive rate hikes, the European Central Bank (ECB) opted for the opposite. The ECB raised its policy rate by 25 basis points last week. The ECB’s move accelerated the euro’s rally, while also pulling the DXY index below the key 103 level last week.
The sharp drop below 103 is likely to keep the DXY under pressure this week. Resistance is currently in the 103-103.50 zone. The short-term outlook is bearish. Current support is at 102. The DXY could break below 102 and fall straight to the 101-100.50 zone in the coming days.
The euro rallied strongly last week and closed above the key 1.09 level. The key support level now lies in the 1.0870-1.0850 area. As long as the currency holds above this support zone, the short-term outlook is bullish. The euro is likely to target 1.11-1.1135 in the coming weeks.
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