Central exchange rate returns to over 25,000 VND/USD

The US Dollar Index (DXY) has just rebounded to 99 points, its highest level in a week. The US dollar has recovered strongly in the international market, after the US Federal Reserve (Fed) kept interest rates unchanged as expected but sent a cautious signal, maintaining the path of cutting twice in 2025 - more than the market had expected. Fed Chairman Jerome Powell warned that inflation could rise again in the coming months, partly due to the impact of President Trump's tariffs.

At the same time, the Fed also lowered its economic growth forecast, making the market more sensitive to policy fluctuations. At the same time, investors increased their holdings of safe assets such as the USD due to the risk of US military intervention in the Israel-Iran conflict. Iran's Supreme Leader warned that the US could suffer "irreparable damage" if it intervened. Israel has expanded its air campaign to more than 20 targets around Tehran, including missile and nuclear facilities. Heavy US military movements in the Mediterranean sky are raising concerns that Washington may soon join Israel in attacks on Iran.

DXY index returns above 99 points

The significant recovery of the USD and the Fed's cautious monetary policy have had a strong impact on the domestic exchange rate. This morning, the State Bank of Vietnam (SBV) announced the central exchange rate at 25,025 VND/USD, up 31 VND compared to yesterday and back above the threshold of 25,000 VND/USD.

At commercial banks, the USD/VND exchange rate continued to be anchored near the ceiling of 5%. At Vietcombank , USD was traded at 25,916 VND/USD (buying by transfer) and 26,276 VND/USD (selling) - an increase of 33 VND compared to yesterday. The reference exchange rate at the State Bank of Vietnam remained at 23,824 - 26,226 VND/USD (buying - selling). Surveys at some stores showed that the free USD price also increased by about 90 VND compared to yesterday. The selling price of USD in some places exceeded 26,400 VND.

The DXY index once had a period of sharp decline and remained at a low level, but the domestic currency still depreciated. According to analysts from FiinRatings, the SBV's flexible adjustment of the central exchange rate, setting new record highs, has allowed the market more room to self-regulate. The increased demand for USD mainly comes from the payment needs of import enterprises and the mobilization of foreign currency by the State Treasury, while the supply is tightened.

Exports in the first 5 months of 2025 increased by 13.97%, but imports also increased by 17.49%. Despite higher import growth, the trade balance still had a surplus of 4.6 billion USD. According to experts from BSC, the number of new export orders decreased for the 7th consecutive month. During the period from April 5, 2025 to July 9, 2025, Vietnam had to pay a minimum tax of 10% on nearly 68% of the proportion of goods exported to the US (not including the tax rates applied to some specific items).

Contrary to the USD's upward trend, the world gold price turned slightly down to around 3,370 USD/ounce, although it was still supported by its role as a safe haven asset amid the escalating Middle East war. Domestically, SJC gold bars continued to be traded at 117.60 - 119.60 million VND/tael (buy - sell), unchanged from yesterday.

Source: https://baodautu.vn/ty-gia-trung-tam-tro-lai-vuot-25000-vndusd-d308096.html