USD exchange rate today, April 10, 2025: Record high.

Domestic USD exchange rate today, April 10, 2025

The central exchange rate announced by the State Bank of Vietnam increased by 38 dong, reaching 24,936 dong/USD. At Vietcombank, the buying and selling rates reached 25,792 - 26,182 dong/USD, an increase of 42 dong compared to yesterday.

Several other banks also recorded a sharp increase in the USD exchange rate. VIB offered the lowest buying rate at 25,340 VND, while VietinBank listed the highest rate for transfer transactions at 26,183 VND. On the selling side, VIB also had the lowest price – 25,760 VND/USD.

In the free market, the USD exchange rate was traded at 26,136 – 26,236 VND/USD, an increase of 62 VND in both directions compared to the previous session.

Global USD exchange rate today, April 10, 2025

In the international market, the Dollar Index (DXY) reached 102.21 points, a sharp increase of 1.08 points compared to April 9th. However, the USD weakened against safe-haven currencies such as the Japanese Yen and the Swiss Franc. The USD lost 1.05% against the Yen and fell 0.9% against the Franc, reaching its lowest level in six months.

Instability in the US financial markets is causing investors to withdraw capital from assets such as stocks and bonds. Many hedge funds are forced to sell off assets to meet margin requirements as their portfolios suffer losses. The spread on 30-year US Treasury bond swaps fell to -98 basis points, indicating significant concerns about financial risk.

George Saravelos from Deutsche Bank believes the US is entering a period of unprecedented instability. He argues that the current policies of the US administration could lead to the US dollar facing a long-term trend towards dedollarization.

Meanwhile, the euro recovered on positive news from Germany. The agreement reached by political parties to form a government eased political concerns in Europe's largest economy. The euro rose 0.7% to $1.1033, nearing last week's high.

Nevertheless, Citi analysts have lowered their Eurozone growth forecast for 2025 to 0.8%, and for 2026 to just 0.6%. Inflation in the region has also been revised downwards, indicating a challenging economic outlook.

Markets now expect the US Federal Reserve (Fed) to cut interest rates by a total of 105 basis points this year, a slight increase from previous forecasts. At the same time, expectations for easing by the European Central Bank (ECB) have also risen, with a projected 85 basis point reduction in 2025.

The Chinese yuan depreciated by 0.5% against the US dollar, falling to 7.387, after earlier hitting a record high of 7.4288. Analyst Lee Hardman from MUFG said the yuan's weakening reflected speculation about a possible devaluation in response to the trade war.

Meanwhile, the Japanese Yen continues to hold its position as a safe-haven asset. With a stable economic foundation and flexible monetary policy from the Bank of Japan, the Yen is expected to continue to benefit if the US falls into recession or global financial markets remain unstable.