Foreign exchange rates, USD/VND exchange rate today, May 1: USD jumps as US economy is worse than expected

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: 05/01/2025 10:00 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	25,810	25,820	26,160
EUR	EUR	29,049	29,166	30,278
GBP	GBP	34,271	34,409	35,385
HKD	HKD	3,284	3,297	3,404
CHF	CHF	31,057	31,182	32,088
JPY	JPY	178.38	179.10	186.56
AUD	AUD	16,381	16,447	16,978
SGD	SGD	19,500	19,578	20,111
THB	THB	759	762	795
CAD	CAD	18,457	18,531	19,048
NZD	NZD		15,245	15,755
KRW	KRW		17.26	19.01

Exchange rate developments in the domestic market

In the domestic market, according to the World and Vietnam Newspaper at 9:00 a.m. on May 1, the State Bank announced the central exchange rate of the Vietnamese Dong at 23,956 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,759 VND - 26,153 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank : 25,790 - 26,180 VND.

Vietinbank: 25,670 - 26,195 VND.

Foreign exchange rates, USD/VND exchange rate today, May 1: USD increases as the US economy is worse than expected. (Source: Reuters)

World market developments

The US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.40% to 99.64.

The dollar rose against major currencies after new data showed the world's largest economy contracted in the first quarter, worse than market expectations but better than some of the biggest US banks had predicted.

A report from the US Department of Commerce showed that the gross domestic product (GDP) decreased by 0.3% in the first quarter of 2025, affected by an increase in imports for the purpose of purchasing goods before the US President Donald Trump's administration imposed tariffs on most goods.

In addition, pre-tax imports also increased by 41.3% in the first three months of the year.

Economists polled by Reuters had forecast a 0.3% increase. However, Goldman Sachs had forecast a 0.8% decline, while JP Morgan had predicted a 1.75% decline.

Accordingly, first-quarter GDP decreased after increasing 2.4% in Q4-2024.

Consumer spending, however, continued to grow, albeit at a moderate pace. Consumer spending on services, especially health care, rose 2.4% in the first quarter.

Following the data, the US dollar rose 0.3% against the Japanese yen to 142.77 yen, while the euro fell 0.4% to $1.1343.

The greenback is on track for its biggest monthly decline against the yen since July 2024. The European common currency, on the other hand, is on track for its biggest monthly gain since November 2022.

The pound fell 0.5% to $1.3340. In April, the pound rose 3.3%, its strongest monthly gain against the dollar since November 2023.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-15-usd-bat-tang-khi-kinh-te-my-te-hon-ky-vong-312893.html