USD exchange rate today, April 24, 2025: Rising sharply again.

The US dollar rebounded strongly in the last trading session on expectations that US-China trade tensions could ease. The fact that US President Donald Trump withdrew his threat to fire Federal Reserve Chairman Jerome Powell also contributed to supporting market sentiment.

The Trump administration is considering the possibility of lowering import tariffs on Chinese goods while negotiations continue. At the same time, the US side emphasizes that any action requires consensus and cannot be made unilaterally. Hopes for an end to the trade war have pushed the US dollar higher against the euro and the Swiss franc.

US Treasury Secretary Scott Bessent said any trade agreement reached with China could significantly reduce current tariffs. This statement further boosted investor confidence, causing them to quickly return to the US dollar – even though the currency had previously fallen to near its lowest level in three years due to concerns that Trump's trade policies would harm the US economy.

The DXY index, which measures the strength of the US dollar against a basket of major currencies, surged in early Asian trading and closed up 0.86% at 99.78. However, the gains remain unsustainable as market sentiment remains cautious, particularly regarding the possibility of a replacement for the Fed chairman.

Speaking to reporters in the Oval Office, President Trump said he had no intention of firing Chairman Powell, but wanted him to express a clearer and more positive stance on interest rate cuts. Analyst Lee Hardman from MUFG commented that this statement was a positive signal that could help stabilize financial markets.

Conversely, the euro fell sharply by 0.86% to $1.132, down from a high of $1.15 earlier in the week – its highest level in more than three and a half years. A survey released on April 23rd showed business growth in the eurozone slowing, while Germany's private sector contracted due to difficulties in the services sector and an uncertain trading environment.

The US dollar also rose 1.27% against the Japanese yen, reaching 143.435. However, despite the recovery, the greenback remains near multi-year lows against the euro and Swiss franc, as well as its lowest level in seven months against the Japanese yen.

Earlier this month, President Trump imposed basic import tariffs of 10% and higher on many countries. However, he then unexpectedly postponed the higher tariffs for 90 days to allow time for negotiations. According to White House Press Secretary Karoline Leavitt, as of April 22nd, 18 countries had submitted trade proposals, and this week, the US negotiating team is expected to meet with 34 countries to discuss tariff policies in more detail.

On the domestic market, at the beginning of the trading session on April 24, the State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the US Dollar increased by 20 dong, currently at 24,928 dong.

The reference exchange rate at the State Bank of Vietnam's exchange floor for buying and selling has decreased slightly, currently standing at: 23,732 VND - 26,124 VND.

USD exchange rates at domestic commercial banks on April 24, 2025. The common selling price remains stable at a maximum of 26,174 VND/USD, maintained uniformly at many banks such as ACB, BIDV, Eximbank, Vietcombank, Techcombank, MSB, OceanBank and many others.

On the buying side, HSBC continues to hold the leading position in cash buying price at 25,863 VND/USD, while Techcombank maintains the highest price on transfers at 25,885 VND/USD, a slight increase compared to yesterday.

VIB remains the bank with the lowest buying and selling rates in the market. The buying price for cash and the transfer price here are still at VND 25,340 and VND 25,400 respectively.

VIB's selling price is also the lowest in the banking system, at VND 25,760 for both methods.