USD exchange rate today, May 23, 2025: Domestic USD rate decreases by 7 dong.

Domestic USD exchange rate today

Today (May 23), the central exchange rate was lowered by the State Bank of Vietnam by 7 dong to 24,955 VND/USD, compared to yesterday's rate.

Applying a 5% margin, the current USD exchange rate that commercial banks are allowed to trade is between 23,758 and 26,152 VND/USD.

The reference buying and selling rates were also maintained by the State Bank of Vietnam's Exchange Department at 23,758 - 26,152 VND/USD.

In the "black market," the USD exchange rate as of 4:30 AM on May 23, 2025, decreased by 40 VND in the buying rate and 50 VND in the selling rate compared to yesterday's trading session, trading around 26,280 - 26,380 VND/USD.

VietinBank offered a USD buying price of 25,799 VND/USD, the highest compared to other banks. Eximbank's USD selling price was 26,200 VND/USD, significantly higher than the remaining banks.

The USD buying price at Sacombank decreased by 17 VND/USD to 25,773 VND/USD.

The bid-ask spread at Eximbank is 430 VND/USD, the largest among all banks.

Global USD exchange rate on May 23, 2025

The USD Index (DXY), a measure of the dollar's strength against other major currencies, was trading at 99.93 (up 0.32%) as of 4:30 AM (Vietnam time).

During Thursday's North American trading session, the US dollar (USD) experienced significant volatility, with the DXY index fluctuating around 99.50. This was primarily due to the US House of Representatives narrowly passing a tax bill proposed by President Donald Trump, which has now been sent to the Senate for further consideration.

Immediately after receiving the approval, Trump hailed it as a "beautiful big bill" and called it one of the most important pieces of legislation. He also urged the Senate to act quickly to pass the bill.

However, the reaction from financial markets has been more cautious. Investors are concerned that the tax cuts combined with large spending plans will worsen the US budget deficit. Estimates from the Congressional Budget Office suggest that the bill could increase the national debt by $3.8 trillion over 10 years, putting significant pressure on the government's interest payment obligations.

Previously, Moody's had warned about financial imbalances and rising borrowing costs, and downgraded the US national credit rating from Aaa to Aa1 – a worrying sign for the fiscal outlook.

The composite PMI reached 52.1, significantly higher than the 50.6 recorded in April. The PMI report indicated that overall business activity in the private sector expanded at a robust pace, with substantial increases in production across both the manufacturing and services sectors.

In other news, recently released US labor market data showed that initial jobless claims for the week ending May 16 reached 227,000, lower than the forecast of 230,000 and slightly down from the previous week's 229,000. However, this improvement was not enough to completely dispel concerns about rising financial risks.