Foreign exchange prices on July 8, 2025: USD bounces back

Foreign exchange rates on July 8, 2025: The USD strengthened significantly against other major currencies on Monday, after US President Donald Trump announced new tariffs, effective August 1, on a range of countries, including Japan and South Korea.

Exchange rates on the world market

Illustrative image. (Image source: Internet)

The Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), closed at 97.32 - up 0.33 points from July 7, 2025.

The US dollar strengthened against other major currencies after statements from US officials offered little clarity on tariff policy, just days before a crucial deadline. Most of America's trading partners now face the risk of higher tariffs as the 90-day moratorium on implementing President Donald Trump's proposed "Emancipation Day" tariffs expires this Wednesday.

President Trump confirmed on Sunday that the new tariffs would officially take effect on August 1st. He also said he would announce a list of approximately 12 countries that would receive notification of the new tariffs on Monday, and threatened to impose an additional 10% tariff on countries that tend to support the "anti-American" policies of the BRICS bloc (Brazil, Russia, India, China, and South Africa).

“The current administration seems to be trying to avoid a full-blown tariff war. We hear a lot of talk about it, but talking and doing are two completely different things,” said Chris Beauchamp, head of market analysis at IG. “The U.S. saw some dramatic changes in April, and I don’t think they want that to happen again.”

Data from the options market reflects that currency investors are anticipating a slight increase in volatility ahead of the tariff deadline, but also expect a possible extension from the US.

The Dollar Index, which measures the strength of the greenback against six other major currencies, rose 0.34% to 97.294, at one point reaching a one-week high. The index continued its gains from last week as data showed a robust US labor market, delaying expectations of an early easing of monetary policy by the Federal Reserve.

Nevertheless, the index remains near its 3.5-year low and has fallen 10% year-to-date, amid investor doubts about the safe-haven role of the US dollar and a reassessment of expectations that the US can weather the global economic recession.

During the session, the US dollar edged up 0.25% to 0.797 against the Swiss franc, near its low recorded in January 2015. The euro fell 0.41% to $1.1738, despite having risen more than 13% year-to-date. Meanwhile, the US dollar reversed its earlier decline and surged 0.78% to 145.725 Japanese yen, reaching a one-week high.

Investors are concerned that Japan and the European Union (EU) may not reach an agreement with the US before the deadline, as negotiations remain slow despite multiple rounds of talks.

The British pound edged lower by 0.08% to $1.364, but remained near its highest level since October 2021.

Currencies trending higher, mirroring risk appetite, saw the Australian dollar and New Zealand dollar fall 0.61% and 0.63% respectively ahead of central bank announcements over the next two days. The Reserve Bank of Australia is expected to further cut interest rates by 0.25 percentage points on Tuesday, while the Reserve Bank of New Zealand is anticipated to keep rates unchanged on Wednesday.

Paul Mackel, Global Head of Foreign Exchange Research at HSBC, commented: “While US policy uncertainty is no longer as strong as it was in early April, it is still having a significant impact on the US dollar.”

Domestic USD exchange rate

On the domestic market, at the beginning of trading on July 8th, the State Bank of Vietnam announced the central exchange rate of the Vietnamese Dong against the US Dollar at 25,113 VND.

The reference USD exchange rate at the State Bank of Vietnam's exchange desk has decreased slightly, currently standing at 23,908 VND - 26,318 VND for buying and selling respectively.

Specifically, at Vietcombank , the USD exchange rate is 25,940 - 26,330 VND/USD, a decrease of 20 VND in both directions compared to yesterday's trading session.

NCB Bank is buying USD cash at the lowest rate: 1 USD = 25,805 VND

VietinBank is buying USD transfers at the lowest rate: 1 USD = 25,785 VND

HSBC Bank is buying USD cash at the highest rate: 1 USD = 26,061 VND

HSBC Bank is buying USD transfers at the highest rate: 1 USD = 26,061 VND

OCB Bank is selling USD cash at the lowest rate: 1 USD = 26,290 VND

HSBC Bank is selling USD transfers at the lowest rate: 1 USD = 26,297 VND

Eximbank, Saigonbank, UOB, and VietABank are selling USD cash at the highest rate of 1 USD = 26,368 VND.

SCB Bank is selling USD transfers at the highest rate: 1 USD = 26,360 VND

The EUR exchange rate at the State Bank of Vietnam's exchange floor increased, currently standing at 28,104 VND - 31,062 VND (buying rate - selling rate).

The Japanese Yen exchange rate at the State Bank of Vietnam's exchange desk is currently 165 VND - 183 VND for buying and selling respectively.

According to Consumer

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-8-7-2025-usd-bat-tang-tro-lai/20250708083237389