USD slightly decreased, still above 100 mark

USD exchange rate today (May 3): Early morning of May 3, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD remains unchanged, currently at 24,956 VND.

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) decreased by 0.21% to 100.04.

USD exchange rate today in the world

The US dollar fell in the last trading session, after data showed the world's largest economy created more new jobs than expected last month, reflecting a stable labour market.

The greenback gained against both the euro and the yen last week, on optimism about the prospect of the US reaching tariff deals with several trading partners, including China.

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

Meanwhile, the jobs report reinforced expectations that the US Federal Reserve (Fed) will keep interest rates unchanged at the next few meetings and not cut rates until the summer.

US data showed nonfarm payrolls increased by 177,000 jobs last month, after a revised increase of 185,000 in March. Economists polled by Reuters had forecast about 130,000 new jobs in April, after a previous report showed 228,000 new jobs were added in March.

Economists expect job growth to slow in coming months as the fallout from tariffs is taken into account.

“Today’s jobs report could allow the Fed to take a more cautious and patient approach to rate cuts this year,” said Jason Pride, director of research and investment strategy at Glenmede in Philadelphia.

“Faced with the risk of stagflation (high inflation and recession occurring simultaneously) from the tariffs, the Fed is trying to assess in real time whether stagflation or inflation is the greater risk to the US economic outlook. The stability of the labor market may reassure the Fed that the economy has not bottomed out yet, which gives the Fed more time to assess the impact of tariffs on inflation,” he added.

Besides the jobs report, tariffs remain top of mind for investors.

US Secretary of State Marco Rubio told Fox News on May 1 that talks with China would take place soon. His comments came after a report in Chinese state media that was seen as a signal that Beijing was open to trade talks. Beijing is “evaluating” an offer from the Washington administration to hold talks on tariffs, China’s Ministry of Commerce said on May 2.

Meanwhile, Japanese Finance Minister Katsunobu Kato said Japan could use its more than $1 trillion in US Treasury bonds as leverage in trade negotiations with Washington.

The dollar pared some losses against the Japanese yen after the jobs report, ending the session down 0.3% at 145.05 yen, but was on track to gain for a second straight week.

Meanwhile, the euro pared gains against the greenback, trading higher at $1.1326, up 0.3%. However, for the week, the euro fell 0.5%, its biggest weekly decline since mid-March.

Sterling was unchanged against the dollar at $1.3280, but was down 0.3% for the week, its biggest weekly decline since late February.

Following the jobs data, US interest rate futures markets reduced the size of the rate cut to 80 basis points, equivalent to about three rate cuts of 25 basis points each.

USD exchange rate today, May 3: USD slightly decreased, still above 100. Photo: Reuters

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on May 3, the State Bank announced that the central exchange rate of the Vietnamese Dong against the USD remained unchanged, currently at 24,956 VND.

* The reference exchange rate at the State Bank's transaction office for buying and selling remains unchanged, currently at: 23,759 VND - 26,153 VND.

USD exchange rates at commercial banks are as follows: