World USD exchange rate on May 7, 2025
The US dollar index (DXY), which measures the greenback against six major currencies, fell sharply as market sentiment grew nervous. Attention turned to the Taiwanese dollar (TWD), which surged more than 5% against the dollar on Monday before paring gains the following day.
This development has investors worried that it could have a spillover effect on other major currencies in Asia such as the Korean won, Japanese yen and Chinese yuan.
In Europe, German politics fell into chaos when the first parliamentary vote to elect a new Chancellor, Friedrich Merz, failed because he did not win enough votes. However, in the second vote that followed, Merz received enough votes and officially became the new German Chancellor, ending the previous political deadlock.
At the same time, Canada's newly elected Prime Minister Mark Carney is on his way to the White House to meet with US President Donald Trump to discuss a potential trade deal between the two countries.
On the economic front, the US trade deficit in goods and services widened more than expected in March to $140.5 billion, well above expectations of $129 billion and up from $122.7 billion in February. The news sent shockwaves through the stock market. Germany's DAX fell 0.5%, while US futures also fell, with the Nasdaq leading the way with a 1% decline.
The CME FedWatch forecasting tool shows that the probability of the US Federal Reserve (Fed) cutting interest rates at its May meeting is only 3.2%, while the possibility of leaving interest rates unchanged is up to 96.8%.
For June, the probability of a cut is 31.8%, but confidence in the Fed acting this month or in July is waning.
The yield on 10-year US government bonds remained around 4.36%, indicating that market sentiment is not yet completely tilted towards the possibility of a short-term interest rate cut.
Domestic USD exchange rate today
In the domestic market, at the beginning of the trading session on May 7, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 24,938 VND.
* The reference exchange rate at the State Bank's transaction office for buying and selling remains unchanged, currently at: 23,742 VND - 26,134 VND.
USD exchange rates at commercial banks are as follows:
| USD exchange rate | Buy | Sell |
| Vietcombank | 25,760 VND | 26,150 VND |
| Vietinbank | 25,670 VND | 26,180 VND |
| BIDV | 25,790 VND | 26,150 VND |
EUR exchange rates at commercial banks are as follows:
| EUR exchange rate | Buy | Sell |
| Vietcombank | 28,693 VND | 30,265 VND |
| Vietinbank | 28,510 VND | 30,220 VND |
| BIDV | 29,013 VND | 30,274 VND |
* The Japanese Yen exchange rate at the State Bank's exchange office for buying and selling has slightly decreased, currently at: 164 VND - 182 VND.
| Japanese Yen Exchange Rate | Buy | Sell |
| Vietcombank | 175.10 VND | 186.23 VND |
| Vietinbank | 175.17 VND | 184.87 VND |
| BIDV | 178.02 VND | 186.34 VND |
Source: https://baonghean.vn/ty-gia-usd-hom-nay-7-5-2025-giam-manh-ca-trong-nuoc-va-quoc-te-10296692.html
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