How much is the VND for the current USD exchange rate?
The central exchange rate is listed by the State Bank at 23,163 VND/USD.
The black market USD exchange rate today is at 23,865 - 23,930 VND (buy - sell).
Vietcombank's exchange rate today is listed at: VND 22,920 - VND 23,230 (buy - sell), increasing sharply in both directions compared to the previous trading session.
Vietcombank's Euro exchange rate is currently at VND 23,347 - VND 24,655 (buy - sell).
The Japanese Yen exchange rate is currently at 174 VND - 184 VND (buy - sell).
The British exchange rate is currently at VND 27,466 - VND 28,638 (buy - sell).
The Nhan exchange rate today is at 3,332 VND - 3,475 VND (buy - sell).
USD price today skyrockets, gold price today "struggles" to bottom bottom
The US Dollar Index (DXY) measuring the fluctuations of the greenback against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) is currently at 104.510.
USD prices fell slightly after soaring to a 20-year high. However, if we consider the whole week, the USD price has increased for the sixth consecutive week and has increased by more than 9% in 2022. Concerns remained central to investors about slowing global growth and the Federal Reserves policy of sending the United States into recession.
High inflation and the Fed's rate hike roadmap have raised concerns that the Fed could cause policy errors, leading to economic recession. Even a scenario of stagnant inflation with slowing growth and high prices is a concern for experts. There are signs that inflation is starting to decline, although at a slow pace.
The dollar slowed down after US import price data unexpectedly moved sideways in April as falling gasoline prices compensated for the increase in food prices and other products. This is another sign that inflation may have reached its peak.
University of Michigan data shows that preliminary results on consumer sentiment in early May fell to their lowest level since August 2011 due to concerns about remaining inflation.
Even with recent inflation results, Fed Chairman Cleveland Loretta Mester said inflation needs to fall to a lower level in "a few months" before the Fed can safely conclude that it has peaked and she will be ready to consider the Fed raising interest rates faster in September.
Another reason for the weakening of the USD is the recovery of stocks after a recent sharp decline. The S&P 500 index hit a peak, confirming a lowering market as investors look for signs that stocks have bottomed out.
Investors have flocked to safe havens amid concerns about the Fed's ability to reduce inflation without causing recession. Along with that, concerns about the Fed's slowing growth arose from the Ukraine crisis and the economic impacts of China's COVID-19 no-COVID policy in the context of rising infections.
The Euro rose 0.18% to $1.0398, reversing after falling to its lowest level since January 3, 2017.
The Euro fell for the fifth consecutive week. The reason is that the Euro is affected by both concerns about Russia's attack on Ukraine hindering the economy and the recovery of the dollar.
Meanwhile, the European Central Bank is expected to start raising interest rates in July. The ECB central bank is expected to apply a rate hike at a slower pace than the Fed.
The Japanese Yen weakened by 0.76% against the greenback. The Yen is marking the first week of increase against the dollar after 9 consecutive months of decline.
In cryptocurrency, Bitcoin is currently at 29,504 USD. Bitcoin fell to its lowest level since December 2020 earlier this week as the cryptocurrency market was disrupted by the collapse of TerraUSD, a currency called stability.
The stronger USD pushed world gold prices to a 3-month low. Gold prices are in the "gege zone" as they approach $1,800/ounce. This is a solid support zone, but if gold prices fall below this threshold, investors will likely trigger a sell-off.
World gold prices are currently at 1812.30 - 1813.20 USD/ounce.
Domestic SJC gold price is currently at 68.70 - 69.40 million VND/tael (buy - sell).
SJC gold price remained unchanged in both directions compared to the previous session.
