On the morning of May 26, the State Bank announced the central exchange rate at 24,940 VND/USD, down 20 VND/USD compared to the end of last week. Correspondingly, the ceiling exchange rate decreased to 26,187 VND/USD.
Also at the beginning of the week, exchange rates at commercial banks also decreased simultaneously. At Vietcombank , the USD exchange rate was listed at 25,740 VND/USD (buying by transfer) and 26,100 VND/USD (selling), down 30 VND/USD. In the free market, the USD price also "cooled down" quickly. Surveyed at some stores, the USD selling price was around 26,340 VND.
The decline of the greenback has significantly eased the pressure on the exchange rate. Continuing to decline in the first session of the week, the US Dollar Index (DXY) is trading at 98.8 points. Recently, members of the US House of Representatives passed a bill to reduce taxes and increase military spending, which could increase government debt to trillions of dollars with a result of 215 votes in favor and 214 votes against.
The “One Big, Beautiful Bill Act” proposed by President Donald Trump will move to the Senate and is expected to be passed before June 6. According to the bill, President Trump’s administration proposes to extend for 10 years the personal income tax and estate tax cuts that were passed during Trump’s first term in 2017, while also fulfilling the commitments he made during the 2024 election campaign. Currently, the US national debt has reached 36.2 trillion USD and is forecast to reach 134% of the Gross Domestic Product (GDP) by 2035.
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| DXY index nears 3-year low. |
This bill is considered part of President Trump's domestic policy efforts, combining proposals to cut taxes, spend public money, tighten social security, increase defense spending and control immigration, which is putting great pressure on bonds and the USD. While the DXY index is close to a 3-year low. The yield on 10-year US bonds rose to 4.6% in the middle of last week and is currently trading around 4.52%, the yield on 30-year bonds is also exceeding 5%.
Recently, US President Donald Trump announced the postponement of the plan to impose a 50% tax on goods from the European Union until July 9. This is considered a move to open up more time for negotiations after a positive phone call with European Commission President Ursula von der Leyen. Gold prices reversed and decreased after President Trump's decision to postpone the tax. At the opening session of the week, the world gold price fell below 3,350 USD/ounce.
In line with the world market, SJC gold bars also fell sharply at the beginning of the session. Saigon Jewelry Company (SJC) listed the price at VND117 million/tael (buy) and VND120 million/tael (sell), down VND1 million/tael on the sell side while down VND2 million/tael on the buy side. The difference between the buy and sell prices widened to VND3 million/tael.
Source: https://baodautu.vn/ty-gia-usd-ha-nhiet-sau-d290165.html
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