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USD exchange rate developments in the international market
The Dollar Index (DXY), which measures the strength of the USD against six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), ended the session at 99.49 points, down 0.78 points from May 21, 2025.
The greenback has recorded losses against many major currencies in the latest trading session, pressured by concerns related to the plan of tax cuts, budget increases and enhanced border security of the US President Donald Trump administration.
During a nearly two-hour meeting at the Capitol, President Trump directly called on House Republicans to put aside their differences and stand behind this important bill.
However, no Democrats are expected to support the plan, while some Republicans are also concerned about the size and details of the 1,116-page bill.
The US dollar continued to slide against major currencies such as the euro and the Japanese yen, after the US Treasury Department issued $16 billion of 20-year bonds with a record yield of 5.047%, higher than expected at the time of the auction.
In the afternoon session, the euro rose 0.4% against the dollar to $1.1334, hitting a two-week high.
The decline in the US dollar was partly affected by the slowdown in Donald Trump's global trade war, as a 90-day tariff delay with major US partners is about to expire without a new agreement being signed.
Although the market still expects the White House to find a way to stabilize trade relations, negotiations with Japan and South Korea have so far not yielded any concrete results.
The USD/JPY exchange rate fell 0.6% to 143.62 yen, while the yield on 30-year Japanese government bonds set a new high on May 21.
“Higher Japanese bond yields, which helped narrow the gap with US Treasuries, reduced the incentive to hold the US dollar,” said Forex.com analyst Fawad Razaqzada.
The yen's strength, along with safe-haven assets such as the Swiss franc and gold, increased after CNN reported on May 20 that US intelligence had detected that Israel may be preparing to attack Iran's nuclear facilities.
Markets are also focusing on the upcoming US-Japan dialogue. Before meeting with US Treasury Secretary Scott Bessent, Japanese Finance Minister Katsunobu Kato said the discussions would be based on the common position that excessive exchange rate volatility is undesirable for both sides.
On the other hand, the British pound rose to its highest level since February 2022 after newly released data showed that UK consumer inflation in April increased more than expected, which could prompt the Bank of England to consider adjusting the pace of interest rate cuts in the coming time.
The British pound closed up 0.3% at $1.3425.
Domestic USD exchange rate
In the domestic market, at the opening of the trading session on May 22, the State Bank adjusted the central exchange rate of Vietnamese Dong to USD down 6 VND, to 24,962 VND.
The reference exchange rate at the State Bank's Exchange has been slightly adjusted, currently trading at the buying - selling threshold of: 23,764 VND - 26,160 VND.
Specifically, Vietcombank maintained the USD exchange rate unchanged from the previous session, at 25,750 - 26,140 VND/USD for both buying and selling.
VIB Bank currently has the lowest USD cash purchase price on the market: 1 USD = 25,340 VND
The lowest USD transfer purchase price currently also belongs to VIB, at the threshold: 1 USD = 25,400 VND
Meanwhile, HSBC bank listed the highest USD cash purchase price as: 1 USD = 25,849 VND
HSBC also maintains the highest USD transfer purchase price, equivalent to: 1 USD = 25,849 VND
VIB is the bank that is offering USD cash at the lowest rate: 1 USD = 25,760 VND
The lowest USD transfer price on the market also belongs to VIB: 1 USD = 25,760 VND
Saigonbank and UOB are currently the units listing the highest USD cash selling price, at: 1 USD = 26,200 VND
NCB is currently the bank listing the highest USD transfer price on the market, at: 1 USD = 26,180 VND
The EUR exchange rate at the State Bank of Vietnam increased slightly, currently reaching the buying - selling rate of: 26,790 VND - 29,610 VND.
The Japanese yen exchange rate at the State Bank of Vietnam also increased slightly, trading at: 165 VND - 182 VND.
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-22-5-2025-dong-usd-suy-yeu-dollar-index-rot-moc-100/20250522082233069
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