USD exchange rate today May 8: Slight increase, not significant

World USD exchange rate on May 8, 2025

The level is just below the low of the last five days. The market is now closely monitoring information on the progress of trade negotiations between the US and China, while waiting for the interest rate decision from the US Federal Reserve (Fed) due later in the day.

Most investors believe the Fed will keep interest rates unchanged, despite pressure from President Donald Trump to cut them, a decision that is widely seen as fully priced in by the market.

Geopolitical tensions are also on the rise, particularly in South Asia. Pakistan said it shot down five Indian aircraft and captured several soldiers in response to Indian air strikes earlier in the day. While the threat of conflict between the two nuclear-armed nations could trigger safe-haven flows into gold and U.S. Treasuries, optimism over trade talks is overshadowing those risks.

This weekend, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will travel to Switzerland to meet with a Chinese delegation led by Vice Premier He Lifeng. The two sides will hold preliminary discussions aimed at easing trade tensions, but will not move toward formal negotiations, Bessent told Fox News.

The Fed is scheduled to announce its interest rate decision at 1800 GMT, along with a policy statement. The rate is expected to remain in the range of 4.25%–4.50%. Chairman Jerome Powell will then speak at 1830 GMT and answer questions from the press, which could significantly influence future interest rate expectations.

Meanwhile, European stocks edged lower, trading near a 0.5% loss before the close. In the US, markets were more positive, with the Dow Jones Industrial Average up about 0.5% and leading the gains.

According to the CME FedWatch tool, the probability of the Fed cutting interest rates in June is now only 28.3%. However, with the July 30 meeting, the probability of interest rates being lower than current levels has increased to 74.2%.

The yield on 10-year US government bonds is currently around 4.28%, holding steady after four consecutive sessions of increase.

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on May 8, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 24,930 VND.

* The reference exchange rate at the State Bank's transaction office for buying and selling remains unchanged, currently at: 23,734 VND - 26,126 VND.

USD exchange rates at commercial banks are as follows:

USD exchange rate	Buy	Sell
Vietcombank	25,740 VND	26,130 VND
Vietinbank	25,670 VND	26,180 VND
BIDV	25,780 VND	26,140 VND

EUR exchange rates at commercial banks are as follows:

EUR exchange rate	Buy	Sell
Vietcombank	28,719 VND	30,293 VND
Vietinbank	28,510 VND	30,220 VND
BIDV	29,065 VND	30,330 VND

* The Japanese Yen exchange rate at the State Bank's exchange office has increased slightly, currently at: 166 VND - 183 VND.

Japanese Yen Exchange Rate	Buy	Sell
Vietcombank	174.79 VND	185.90 VND
Vietinbank	175.17 VND	184.87 VND
BIDV	177.92 VND	186.25 VND

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Source: https://baonghean.vn/ty-gia-usd-hom-nay-8-5-tang-nhe-khong-dang-ke-10296768.html