USD exchange rate today (May 25): USD breaks weekly increase streak, decreases...

The USD Index (DXY), which measures the greenback's performance against six major currencies, fell 1.97% to 99.10 this week.

USD exchange rate in the world last week

The dollar fell 0.71% to 100.38 in early trading on Monday amid rising trade tensions. Specifically, US Treasury Secretary Scott Bessent said in television interviews that US President Donald Trump would impose tariffs at the level he proposed last month on trading partners that do not negotiate in “good faith”. Earlier, credit rating agency Moody's announced a downgrade of the US credit rating by one notch, from the highest level of Aaa to Aa1. In 2023, they revised the US credit outlook from “stable” to “negative”, due to rising fiscal deficits and interest payments. This news caused the greenback to lose value against major currencies after four consecutive weeks of gains.

Chart of DXY Index fluctuations over the past week. Photo: Marketwatch

The greenback’s slide extended into Monday, falling 0.42 percent to 100.01 amid more cautious comments on the economy from Federal Reserve officials, even as traders looked ahead to upcoming U.S.-Japan talks that could include currency discussions as part of a trade deal. The greenback was also pressured by news that President Donald Trump is under pressure in the House of Representatives over his sweeping tax bill, which would push through sweeping government reforms. The bill includes at least $1.5 trillion in spending cuts to offset tax cuts from his first term, while also fulfilling campaign promises such as exempting tips and overtime from income taxes and increasing the standard deduction.

The DXY index fell 0.43% to 99.69 on May 22 amid concerns about the Trump administration's proposed tax and spending cuts and border security bill. During a nearly two-hour meeting at the Capitol, President Trump sent a direct message to House Republicans, urging them to stop infighting and support the bill. However, no Democrats are expected to support the bill, while some Republican lawmakers also took issue with the size and scope of the massive 1,116-page plan.

The dollar regained some momentum on May 23, inching up 0.34% to 99.90 - partly thanks to the passage of President Donald Trump's tax and spending cuts bill by the House of Representatives. President Trump's comprehensive tax bill will add to the country's ballooning debt. To offset some of the revenue lost from the new tax and spending cuts, the bill will cut Medicaid and SNAP, mainly through work requirements for beneficiaries.

Still, the greenback ended the week down 0.86% to 99.10 as investors sold off the currency after President Donald Trump again escalated his trade war, recommending a 50% tariff on the European Union starting June 1. That raised concerns about the impact of tariffs on the world economy and global trade.

USD exchange rate today, May 25: USD breaks weekly increase streak, falls sharply. Illustration photo: Reuters

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on May 25, the State Bank announced that the central exchange rate of the Vietnamese Dong against the USD remained unchanged, 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: