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USD exchange rate developments in the world market
The Dollar Index (DXY), which measures the strength of the USD against a basket of six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), fell 0.12 points to 99.48 at the close of trading on May 29, 2025.
The greenback has seen a decline in recent sessions, as financial markets await Donald Trump’s response to a ruling from a US trade court that has ruled against much of his proposed tariffs.
The ruling, issued late on May 28, showed that a three-judge panel of the US Court of International Trade determined that the Trump administration had exceeded the legal limit by imposing comprehensive tariffs on imports from countries that have a trade surplus with the US.
The Court has made clear that the US Constitution grants the power to regulate international commerce only to Congress, and that the President's emergency powers to protect the domestic economy are not sufficient grounds to invalidate this power.
The decline in the USD is said to be due to concerns that tax policies could slow economic growth and push up inflation, while inconsistent decisions from Mr. Trump make US assets less attractive to international investors.
The US Federal Reserve (Fed) kept interest rates unchanged amid concerns about high inflation, and Fed officials are still monitoring the impact of trade policy on the national economy.
During an internal meeting at the White House on May 29, President Trump said that Fed Chairman Jerome Powell made a “mistake” in not cutting interest rates.
The US economic situation is said to have improved somewhat at the beginning of the week, after Mr. Trump decided to postpone the plan to impose a 50% tax on goods from the European Union at the end of last week.
The euro jumped 0.73% to $1.1374 after hitting a low of $1.1209 - its lowest level since May 19.
Against the Japanese yen, the USD fell 0.57% to 143.99, from a recent peak of 146.28 – its highest since May 15.
The USD also fell 0.59% against the Swiss franc, currently trading at 0.822.
The dollar continued to weaken after a report showed the number of Americans filing for unemployment benefits rose unexpectedly last week, and the unemployment rate is expected to have continued to climb in May – a sign that layoffs are rising amid a clouded economic outlook over tax policies.
Investors are also watching the progress of a tax-cutting and spending bill being considered by the US Congress , which is expected to add trillions of dollars to the US national debt over the next decade. Some Republicans have voiced opposition because it does not include enough spending cuts.
U.S. government bond yields edged up last week, while demand for 20-year bonds at the latest auction fell amid growing concerns about the U.S. fiscal situation.
The Japanese yen also lost ground against the dollar earlier in the week, amid reports that the Japanese government is considering reducing its issuance of ultra-long-term bonds after yields have risen sharply recently.
USD exchange rate developments in the domestic market
In the domestic market, at the beginning of the trading session on May 30, the State Bank announced that the central exchange rate between the Vietnamese Dong and the USD had increased by 15 VND, reaching 24,962 VND.
The listed exchange rates at the State Bank of Vietnam have been slightly adjusted in both buying and selling directions, currently recorded at 23,764 VND and 26,160 VND, respectively.
According to the update, the USD exchange rate at Vietcombank is 25,810 VND for buying and 26,200 VND for selling, an increase of 60 VND compared to the previous session.
VietBank is currently applying the lowest USD cash purchase price: 1 USD = 24,030 VND
VietBank also offers the lowest USD transfer purchase price: 1 USD = 24,060 VND
ABBank is leading in USD cash purchase price, currently: 1 USD = 25,950 VND
ABBank also maintains the highest price when buying USD transfers: 1 USD = 25,950 VND
VIB Bank is applying the lowest USD selling price for cash: 1 USD = 25,760 VND
VIB also sells USD transfers at the same lowest price: 1 USD = 25,760 VND
Banks such as BIDV, Eximbank, HDBank, MSB, Sacombank, SCB, SeABank, VietABank, VietCapitalBank and VRB are offering USD cash at the highest price: 1 USD = 26,210 VND
Regarding money transfer transactions, MSB, NCB, Sacombank, SCB, SeABank and TPB all listed the highest USD selling rate as: 1 USD = 26,210 VND
The EUR exchange rate at the State Bank Exchange recorded a slight decrease, currently at: 26,621 VND for buying - 29,423 VND for selling.
The Japanese yen exchange rate at the State Bank of Vietnam also decreased slightly, currently buying at 162 VND and selling at 179 VND.
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-30-5-2025-usd-quay-dau-giam-nhe/20250530074030252
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