Green color reigns when economic data is positive

The uptrend of USD index shows no sign of stopping.

On the international market, at 6:28 am on March 25, Vietnam time, the USD index reached 98,800, up 0.185 points, equivalent to an increase of 0.19%.

US weekly initial jobless claims fell to 187,000, the lowest level since September 1969 and below the forecast of 212,000.

The index measuring business activity in March rose to the highest level in recent 8 months.

Statistics and recent comments from Fed officials have reinforced the view that the central bank will raise interest rates by more than 25 basis points at its next policy meeting in May. The CME expects a 50 basis point gain at its upcoming meeting to reach 70.5%, up from 32.9% a week earlier.

The positive signals from the economy made many investors expect that the US Federal Reserve (Fed) will be more drastic in taking steps to curb inflation.

USD expands bullish momentum

On March 24, the State Bank of Vietnam (SBV) announced the central exchange rate at 23,148 VND/USD, a slight increase of 1 VND compared to the listed level yesterday.

The reference selling rate at the SBV’s Exchange is 22,550 – 23,050 VND/USD.

The buying price for USD at banks is currently in the range of 22,705 – 22,760 VND/USD, while the selling price is at 22,960 – 23,128 VND/USD.

On the “black market”, the USD is traded at 23,380 – 23,430 VND/USD.