Meanwhile, 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 by 0.64%, reaching 103.52.

USD exchange rate in the world today

The US dollar rose to a seven-week high in the previous session, boosted by expectations of a US debt ceiling deal that would avert a default.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch.

“It can be done,” Republican House Speaker Kevin McCarthy told reporters at the Capitol about the possibility of a debt ceiling deal by the time Biden returns from his trip to Asia. “We’re on an accelerated schedule. It’s going to be harder, but I’m not giving up and we’re going to get it done.” McCarthy also said he expected a bill to raise the $31.4 trillion debt ceiling next week.

Earlier, on May 17, US President Joe Biden and US House Speaker Kevin McCarthy announced that both sides wanted to reach an agreement by May 21 to raise the federal government's debt ceiling, currently at $31.4 trillion, and avoid a catastrophic economic default.

In addition to the debt ceiling negotiations, investors also looked at U.S. economic data, which has reflected the strength of the economy in recent weeks. Reports on May 18 showed that initial U.S. jobless claims fell to 242,000 last week, below the forecast of 254,000.

A slew of better-than-expected data, coupled with hawkish views from Fed officials, have fueled expectations for further rate hikes, said Karl Schamotta, chief market strategist at Corpay in Toronto, Canada.

Markets have priced in about a 33% chance of the Fed raising rates by 25 basis points at its June meeting. Markets had previously priced in about a 20% chance of a rate cut in June.

Fed officials on May 18 also opposed pausing interest rate hikes next month, citing persistently high inflation. Specifically, Dallas Fed President Lorie Logan said on Thursday that she was concerned that inflation was still “too high,” which would not allow the Fed to pause its rate hike campaign in June.

Against the Japanese yen, the dollar rose 0.7 percent to a six-month high of 138.74.

USD exchange rate today (May 19): USD increased strongly across the board. Illustration photo: Reuters.

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on May 18, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased sharply by 16 VND, currently at: 23,672 VND.

* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,400 VND - 24,805 VND.

USD exchange rates at commercial banks are as follows:

* The Euro exchange rate at the State Bank's exchange office for buying and selling slightly decreased to: 24,4373 VND - 26,938 VND.

Euro exchange rates at commercial banks are as follows:

MINH ANH