USD exchange rate today (July 31): USD continues to increase strongly

USD exchange rate today: Early morning of July 31, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased, currently at 25,228 VND.

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) increased by 1.01% to 99.89.

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

USD exchange rate today in the world

The US dollar strengthened against major currencies on Wednesday after the US Federal Reserve kept interest rates unchanged as expected, despite pressure from President Donald Trump.

The Federal Open Market Committee (FOMC) voted 9-2 to keep the target range for the federal funds rate unchanged at 4.25% to 4.50%. Both Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller voted against the decision, supporting the 25 basis point cut. At a press conference afterward, Fed Chairman Jerome Powell said the process of assessing the impact of trade tariffs on inflation would be gradual.

“The Fed’s decision to keep rates unchanged was not a surprise, but the market took note of the two dissenting votes in favor of a cut,” said Uto Shinohara, senior investment strategist at Mesirow Currency Management in Chicago. “The dollar continues to be well supported by the strong economic data and the Fed announcement, with the market now pricing in a 50-50 chance of a rate cut in September,” Shinohara added.

Earlier in the session, data showed US economic growth rebounded more than expected in the second quarter, reaching 3%, compared with an estimate of 2.4% in a Reuters poll.

The euro continued to fall against the dollar after the Fed’s decision and Powell’s speech. The euro fell 1% to $1.141775, marking its fifth straight session of declines and its lowest level since June 11. The euro is also on track for its first monthly decline in 2025, after a strong reaction to the US-EU trade deal earlier this week.

New trade deals signed with Japan and the EU have shown a renewed US commitment to global integration, helping to reassure investors.

Attention is now on the negotiations between the US and China after the two sides agreed to extend the trade war truce for 90 days. However, Mr. Trump increased the pressure on India and Brazil on Wednesday, announcing a 25% tariff on imports from India starting August 1 and signing an executive order imposing an additional 40% tariff on Brazil, bringing the total tariff to 50%.

Attention will next turn to Bank of Japan (BoJ) Governor Kazuo Ueda's speech, as investors hope a trade deal between Japan and the US will pave the way for the BoJ to raise interest rates later today.

The dollar rose 0.55% to 149.29 yen, after hitting its highest since April 2. Against the Swiss franc, the dollar rose 0.82% to 0.81265 franc, its highest since June 23.

Illustration photo: baotintuc.vn

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on July 31, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 25,228 VND.

* The reference USD exchange rate at the State Bank's buying and selling exchange center increased, currently at: 24,017 VND - 26,439 VND.

USD exchange rates at commercial banks are as follows: