USD exchange rate today (May 24): USD drops sharply after the move...

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.86% to 99.10.

USD exchange rate today in the world

The US dollar fell sharply in the last trading session, as investors sold the currency after US President Donald Trump once again escalated his trade war, recommending a 50% tariff on the European Union (EU) starting June 1. That raised concerns about the impact of tariffs on the world economy and global trade.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch

According to President Donald Trump, Apple must pay a minimum of 25% tax on iPhones manufactured outside the United States. This information was shared by Mr. Donald Trump on the social network Truth on May 23. Mr. Trump said that he had told Apple CEO Tim Cook a long time ago that he wanted iPhones sold in the United States to be manufactured and assembled in this country, not from India or any other country.

The dollar fell 1 percent against the Japanese yen to 142.48 in afternoon trade after earlier falling to a two-week low. For the week, the greenback fell 2.2 percent against the Japanese currency, on track for its biggest weekly decline since April 7.

In contrast, the euro rose 0.8 percent against the dollar to $1.1363. Earlier in the session, the currency hit a two-week high and was on track for its biggest weekly gain in six weeks.

Meanwhile, the DXY index fell to a three-week low at one point. For the week, the greenback fell 1.9%, on track for its biggest weekly decline since early April.

US Treasury Secretary Scott Bessent noted that Mr Trump's tariff comments were in response to the pace of EU tariff negotiations.

The Japanese currency was boosted earlier by data showing Japan's core inflation accelerated at its fastest annual pace in more than two years in April, raising the possibility that the Bank of Japan will raise interest rates again later this year.

The data underscores the dilemma facing the Bank of Japan, with price pressures from persistent inflation as well as economic headwinds from President Donald Trump's tariff policies.

After Moody's downgraded the US rating by one notch from Aaa to Aa1 last week, investors' attention has focused on Mr Trump's tax bill, which is expected to add trillions of dollars to the debt.

The Republican-controlled House of Representatives passed a massive spending and tax reform bill by a single vote, raising concerns that it will add trillions of dollars to the country's debt. The bill needs to pass the Senate, also controlled by the Republican Party, before President Trump can sign it into law.

The pound rose 0.9% against the dollar to $1.3533 after rising to a more than three-year high earlier. For the week, the pound rose 1%, its biggest weekly gain in five weeks.

USD exchange rate today, May 24: USD drops sharply after tariff move. Photo: Reuters

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on May 24, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 5 VND, currently at 24,960 VND.

* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,762 VND - 26,158 VND.

USD exchange rates at commercial banks are as follows: