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| Foreign exchange rates today, May 24: USD, Euro, AUD, CAD, Japanese Yen, British Pound... The greenback increased slightly thanks to the decline in stocks. (Source: marketwatch) |
Foreign exchange rates today 5/24
The central exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of May 24 was announced by the State Bank at 23,684 VND/USD, an increase of 14 VND compared to yesterday.
With the +/- 5% margin currently applied, the ceiling rate applied by banks today is 24,867 VND/USD and the floor rate is 22,500 VND/USD.
At commercial banks this morning, the USD price increased while the Chinese Yuan (CNY) decreased.
At 9:00 a.m., the greenback price at Vietcombank was listed at 23,270 - 23,640 VND/USD, up 25 VND in both buying and selling compared to the end of yesterday's session.
The listed CNY price is 3,257 - 3,397 VND/CNY (buy - sell), down 6 VND for buying and 5 VND for selling compared to the end of yesterday's session.
At BIDV, the USD price is listed at 23,330 - 23,630 VND/USD, up 40 VND for buying and 35 VND for selling compared to the end of yesterday's session.
The price of CNY at this bank is listed at 3,273 - 3,383 VND/CNY (buy - sell), down 3 VND for buying and 5 VND for selling compared to yesterday's closing price.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply for import and export from May 18 to May 24 (to illuminate) |
| 1 | EUR | Euro | 24,672.40 | 26,053.95 | 25,659.24 |
| 2 | JPY | Japanese Yen | 164.81 | 174.48 | 172.77 |
| 3 | GBP | British Pound | 28,363.89 | 29,573.38 | 29,436.27 |
| 4 | AUD | Australian Dollar | 15,145.39 | 15,791.22 | 15,699.03 |
| 5 | CAD | Canadian Dollar | 16,906.50 | 17,627.42 | 17,521.13 |
| 6 | RUB | Russian Ruble | 278.32 | 308.14 | 293.25 |
| 7 | KRW | Korean Won | 15.40 | 18.77 | 17.67 |
| 8 | INR | Indian Rupee | 282.46 | 293.79 | 287.01 |
| 9 | HKD | Hong Kong Dollar (China) | 2,918.80 | 3,043.26 | 3,016.68 |
| 10 | CNY | Chinese Yuan China | 3,273.00 | 3,383.00 | 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) increased slightly by 0.32% to 103.52.
Specifically today, the greenback exchange rate in the world increased, the Japanese Yen decreased.
The greenback hit a two-month high against major currencies in the previous session, as lack of progress in US debt ceiling talks weighed on investor sentiment.
Another round of debt ceiling negotiations took place on May 23 with no sign of progress as the deadline to raise the US government's $31.4 trillion borrowing limit or default risk looms closer.
“The greenback rallied as stocks fell, largely due to lack of progress on the debt ceiling,” said John Doyle, vice president of trading at Monex USA.
Mr Doyle also said that while most market participants expected a final deal, the delay in completing the deal had traders worried.
Meanwhile, better-than-expected economic data and hawkish comments from regional Fed presidents including James Bullard and Neel Kashkari have raised the prospect of further rate hikes, supporting the greenback. Fed officials are likely to be more dovish this week after Fed Chairman Jerome Powell delivered relatively dovish comments late last week.
Accordingly, Powell said that it is still unclear whether interest rates need to be raised further, as central bank officials need to consider the impacts of increasing borrowing costs and tightening bank credit, in the context of inflation that is difficult to control.
Edward Moya, senior market analyst at OANDA in New York (USA), noted that the minutes of the Fed's May meeting, scheduled to be released today, May 24, will reveal whether the Fed will pause raising interest rates next month or not.
Separately, data released on May 23 showed that U.S. home sales rose to a 13-month high in April. The manufacturing and services PMI, which tracks activity in the manufacturing and services sectors, also rose to 54.5 this month, its highest level since April 2022.
Markets are currently pricing in a nearly 30% chance of a rate hike in June, and the Fed funds rate is forecast at around 4.75% in December.
In other developments, the greenback also rose to its highest level since November 30 against the Japanese yen, reaching 138.91 yen.
Source
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