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

Foreign exchange rates, USD/VND exchange rate today, May 1, recorded the USD increasing in value compared to major currencies, after new data showed that the world's largest economy has declined, worse than market expectations.

Báo Quốc TếBáo Quốc Tế01/05/2025

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: 05/01/2025 10:00 - Time of website source supply
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.

Ty gia
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


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