USD/JPY exchange rate today 5/21/2025
The USD/JPY pair is hovering in a technically and policy-sensitive zone, as the US dollar weakens and investment sentiment favors the Japanese yen amid a converging set of supportive factors.
The Japanese Yen (JPY) continued its steady upward trend, hitting a 12-day high against the US Dollar (USD). This strength was mainly due to expectations that the Bank of Japan (BoJ) will continue to raise interest rates in 2025. In addition, the prospect of a trade deal between the US and Japan also contributed to supporting the Yen.
While the BoJ has taken a tightening stance, investors expect the US Federal Reserve to cut interest rates by the end of the year. This divergence has weakened the US dollar, giving the JPY, which has a lower yield, an advantage.
In addition, optimism about the 90-day US-China trade truce also contributed to reducing safe-haven demand, but did not weaken the yen's rally.
Recent statements from BoJ leaders such as Deputy Governor Shinichi Uchida have confirmed that the BoJ is still open to raising interest rates if inflation and economic growth develop positively.
The summary of the BoJ's previous meeting also showed that many members supported this direction. In addition, Japanese Finance Minister Kato revealed that he would discuss the exchange rate issue with the US at the upcoming G7 meeting, although the US representative is unlikely to attend.
On the contrary, newly released US economic data such as CPI, PPI and retail sales showed weaker-than-expected inflation and consumption trends, raising concerns about slowing growth in the coming quarters.
Although some Fed officials such as Williams, Bostic or Jefferson are still cautious and not ready to lower interest rates before September, the market still expects at least two cuts by the end of the year.
In addition to economic factors, geopolitical developments continue to influence markets. President Trump announced that Russia and Ukraine have agreed to begin ceasefire negotiations. Meanwhile, Israel expanded its ground operations in Gaza, ordering the evacuation of the city of Khan Yunis.
These moves continue to maintain the JPY’s appeal as a safe haven asset and may limit further downside corrections. However, investors remain cautious before confirming that the USD/JPY downtrend has truly ended.
Domestic Japanese Yen exchange rate today 5/21/2025
* The buying and selling rates of Japanese Yen at the State Bank of Vietnam remain unchanged, currently at: 164 VND - 181 VND.
In the "black market", the black market Japanese Yen exchange rate as of 4:30 a.m. on May 21, 2025 increased slightly, trading around 179.57 VND/JPY.
The buying and selling rates of Japanese Yen at commercial banks are as follows:
| Japanese Yen Exchange Rate | May 21, 2025 | Change from previous session | ||
| Bank | Buy | Sell | Buy | Sell |
| Vietcombank | 173 | 183.99 | 0.48 | 0.51 |
| Vietinbank | 176.47 | 184.47 | 2.68 | 0.98 |
| BIDV | 175.99 | 184.2 | 0.59 | 0.59 |
| Agribank | 174.58 | 182.56 | 0.05 | 0.05 |
| Eximbank | 176.97 | 183 | 0.99 | 0.95 |
| Sacombank | 176.34 | 183.91 | 0.72 | 0.74 |
| Techcombank | 173.33 | 183.68 | 0.98 | 0.93 |
| NCB | 173.51 | 183.87 | 0.51 | 0.51 |
| HSBC | 174.79 | 182.5 | 0.54 | 0.56 |
The Japanese Yen (JPY) continues to record an upward trend at most domestic banks, both in buying and selling.
Vietinbank is the bank with the strongest adjustment, increasing by 2.68 VND in buying and 0.98 VND in selling, bringing the exchange rate to the highest level in the market: 176.47 - 184.47 VND/JPY.
Techcombank and Sacombank also had notable adjustments, increasing by nearly 1 VND in both directions. Specifically, Techcombank bought at 173.33 and sold at 183.68, while Sacombank was at 176.34 - 183.91.
The remaining banks such as BIDV, NCB, HSBC, and Vietcombank all recorded a slight increase in the range of 0.48 - 0.59 VND, showing a steady upward trend in the market.
Agribank was the bank with the lowest increase of the day, only increasing by 0.05 VND each way, showing a more cautious adjustment.
Source: https://baonghean.vn/ty-gia-yen-nhat-hom-nay-21-5-2025-yen-nhat-tang-cao-nhat-trong-12-ngay-so-voi-dong-dollar-la-my-usd-10297802.html
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