Foreign exchange prices today March 26, 2024: Continue to increase in price

USD/VND exchange rate today, March 26, 2024 in the domestic market

Early morning of March 26 (Vietnam time), the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at: 23,230 VND. The reference exchange rate at the State Bank's transaction office is currently buying at 23,125 VND and selling at 23,877 VND.

Commercial banks kept the common USD exchange rate at 23,010 VND (buy) and 23,190 VND (sell).

Vietcombank listed the exchange rates at: 23,010 VND/USD and 23,190 VND/USD. Vietinbank: 23,000 VND/USD and 23,200 VND/USD.ACB : 23,020 VND/USD and 23,180 VND/USD.

At the beginning of the trading session on March 26 (Vietnam time), the US Dollar Index (DXY), which measures the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stood at 92.76 points.

USD exchange rate in the world today

The USD reversed course in the last trading session, after hitting 104.49 late last week, its highest level since February 16.

US Federal Reserve Chairman Jerome Powell said last week that the US central bank is still on track to cut interest rates this year, despite higher-than-expected inflation figures in January and February.

At the beginning of the trading session on March 25 in the US market (night of March 25, Vietnam time), the US Dollar Index (DXY), measuring the fluctuations of the greenback against a basket of 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) stood at 92.76 points.

The US dollar continued to rise strongly in the international market and reached a 4-month peak after the US announced that the number of unemployment benefit applications in the week ending March 20 dropped sharply to the lowest level since the Covid-19 pandemic, only 684 thousand applications, much lower than the forecast of 735 thousand applications.

Investors are also hopeful about the US economic outlook when the vaccine is widely administered. In a recent statement, billionaire Bill Gates said that the world will return to normal by the end of 2022 thanks to the Covid-19 vaccine.

However, in the long term, the greenback is expected to remain under downward pressure. The US continues to pump money into the economy. The US government recently passed a $1.9 trillion stimulus package to provide much-needed aid to American consumers. In the near future, the Joe Biden administration may add another $3 trillion for infrastructure investment.

The government's plans to improve health care, fight social inequality, combat climate change and provide further economic support to the economy through infrastructure spending will all be expensive programs.

The USD also increased due to the decrease of many other key currencies, including the euro and the Chinese yuan.

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