Foreign exchange rates, USD/VND exchange rate today February 28: CAD and Peso drop rapidly after US President's statement

Foreign exchange rates, USD/VND exchange rate today, February 28, recorded that USD quickly recovered after Mr. Trump announced a 25% tax on goods from Mexico and Canada.

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: 03/21/2025 00:30 - Time of website source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	25,350	25,370	25,710
EUR	EUR	27,304	27,414	28,527
GBP	GBP	32,600	32,731	33,694
HKD	HKD	3,221	3,234	3,341
CHF	CHF	28,561	28,676	29,582
JPY	JPY	168.08	168.76	176.04
AUD	AUD	15,848	15,912	16,434
SGD	SGD	18,850	18,926	19,470
THB	THB	740	743	776
CAD	CAD	17,497	17,567	18,078
NZD	NZD		14,538	15,042
KRW	KRW		16.74	18.47

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 8:10 a.m. on February 28, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 28 VND, currently at 24,696 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,512 VND - 25,880 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank : 25,350 - 25,740 VND.

Vietinbank : 25,200 - 25,780 VND.

Foreign exchange rates, USD/VND exchange rate today, February 28: CAD and Peso fell rapidly after the US announcement. (Source: Xinhua)

Exchange rate developments in the world market

The US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.88% to 107.30.

The USD quickly recovered after US President Donald Trump announced that the 25% tariff on goods from Mexico and Canada will take effect from March 4 as scheduled.

The DXY index is on track for its biggest one-day gain since Dec. 18. The euro fell 0.74%, on track for its biggest drop since Jan. 2, to $1.0405.

Prime Minister Justin Trudeau said Canada “will respond immediately” if the US imposes tariffs on Canadian imports from March 4.

The Canadian dollar fell 0.69% against the greenback to CAD1.44 and the Mexican peso fell 0.12% against the dollar to CAD20.464.

The greenback fell nearly 4% earlier this week from a more than two-year high hit in January 2025, on concerns about U.S. economic growth and inflation as President Donald Trump shifted the deadline for imposing tariffs on Canada and Mexico.

Investors are also bracing for labor market impacts from actions by the Department of Government Efficiency headed by billionaire Elon Musk.

The path of the US Federal Reserve’s interest rate cuts has become more unpredictable, with markets pricing in about 58 basis points of easing by the end of the year and at least a 25 basis point cut that does not exceed 50% by the June meeting.

Cleveland Federal Reserve Bank President Beth Hammack said she expects the US central bank's interest rate policy to remain unchanged for now.

Philadelphia Federal Reserve Bank President Patrick Harker expressed support for keeping short-term U.S. borrowing costs within their current range.

Meanwhile, the European Central Bank is expected to cut interest rates next week to 2.50%.

Compared to the Japanese Yen, the USD increased by 0.52% to 149.85.

The British pound weakened 0.51% to $1.2608.