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Global USD exchange rate developments
The Dollar Index (DXY), which compares the value of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), fell to 98.64 - down 1.2 points from June 2, 2025.
The US dollar fell sharply in the trading session on June 2 due to the impact of escalating trade tensions and concerns about fiscal policy. President Donald Trump's announcement of increasing import tariffs on steel and aluminum by 50% has sparked concerns about the risk of a full-blown trade war with China. At the same time, President Trump's plan to cut taxes and increase spending has also raised doubts about the sustainability of the US federal budget. According to analysts, the push for trade protectionism along with excessive public spending could cause foreign investment to decline and continue to put pressure on the US dollar.
The USD/EUR exchange rate has seen a sharp decline, affected by growing concerns about US economic policy and the appreciation of the euro despite the European Central Bank’s (ECB) monetary easing policy. The euro has gained more than 10% against the USD in the past four months, despite the ECB’s continuous rate cuts. This development is explained by the reversal of capital flows from the US to Europe, which is benefiting from Germany’s large-scale fiscal stimulus package, while investors are increasingly concerned about the US’s fiscal and trade direction.
The euro is now at record highs in both nominal and real terms, reflecting its strong international performance. ECB President Christine Lagarde has highlighted the opportunity for the euro to become a global reserve currency, although this also poses challenges for the region’s exporters.
The dollar fell nearly 0.8% to 142.85 yen on Friday, its lowest level in seven days. The decline has almost wiped out the greenback’s gains against the yen last week amid falling US government bond yields and expectations of a change in Fed policy.
The dollar’s weakness came after a series of economic data showed signs of slowing growth in the US, raising doubts that the Fed will keep interest rates high for a long time. Meanwhile, the Japanese yen edged up on expectations that the Bank of Japan (BoJ) could adjust its monetary easing policy to deal with rising inflationary pressures.
Domestic USD exchange rate
In the domestic market, on the morning of June 3, the State Bank announced the central exchange rate between VND and USD at 24,970 VND.
The reference exchange rate at the State Bank's Exchange has slightly decreased, currently recorded at the buying - selling rate: 23,772 VND - 26,168 VND.
Specifically at Vietcombank , the USD exchange rate remained at 25,810 - 26,200 VND/USD for both buying and selling compared to yesterday's session.
VIB Bank is applying the lowest USD cash purchase rate on the market, at: 1 USD = 25,340 VND.
VIB Bank is also listing the lowest USD transfer purchase rate as: 1 USD = 25,400 VND.
HSBC Bank currently offers the highest USD cash purchase price, up to: 1 USD = 25,918 VND.
The highest USD transfer purchase price in the market also belongs to HSBC, with: 1 USD = 25,918 VND.
On the selling side, VIB is listing the lowest USD cash selling price as: 1 USD = 25,760 VND.
The lowest current USD transfer selling rate also belongs to VIB, which is: 1 USD = 25,760 VND.
A series of banks such as Eximbank, LPBank, OceanBank and Saigonbank are currently selling USD cash at the highest market price: 1 USD = 26,218 VND.
ABBank, LPBank and OceanBank are applying the highest USD transfer selling price: 1 USD = 26,218 VND.
The euro exchange rate at the State Bank of Vietnam has increased slightly, currently at: 26,971 VND - 29,810 VND for both buying and selling.
The Japanese Yen exchange rate at the same unit recorded a slight downward trend, with the current buying and selling rates being: 165 VND - 183 VND.
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-3-6-2025-usd-giam-manh/20250603080728595
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