USD exchange rate today, May 8th: Slight, insignificant increase.

Global USD exchange rate on May 8, 2025

This level is only slightly lower than the five-day low. The market is currently closely monitoring developments in US-China trade negotiations and awaiting the Federal Reserve's interest rate decision, which is expected later today.

Most investors believe the Fed will keep interest rates unchanged, despite pressure from President Donald Trump to cut them. This decision is believed to have been almost entirely priced in by the market beforehand.

The geopolitical situation is also tense, particularly in South Asia. Pakistan claimed to have shot down five Indian aircraft and captured several soldiers in retaliation for Indian airstrikes earlier that morning. While the threat of conflict between the two nuclear-armed nations could trigger safe-haven flows into gold and US bonds, optimism about trade negotiations is overshadowing these risk factors.

This weekend, U.S. 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 proceed to formal negotiations, according to Bessent, speaking on Fox News.

The Fed is expected to announce its interest rate decision at 6:00 PM GMT, along with a policy statement. Interest rates are expected to remain unchanged in the range of 4.25%–4.50%. Following that, at 6:30 PM GMT, Chairman Jerome Powell will speak and answer questions from the press, the content of which could significantly influence expectations for future interest rates.

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 rising 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 meeting on July 30, the probability of interest rates being lower than current levels has risen to 74.2%.

The yield on 10-year US Treasury bonds is currently holding steady at around 4.28%, remaining stable after four consecutive sessions of gains.

Domestic USD exchange rate today

On the domestic market, at the beginning of trading on May 8th, the State Bank of Vietnam announced the central exchange rate of the Vietnamese Dong against the US Dollar at 24,930 VND.

* The reference exchange rate at the State Bank of Vietnam's exchange floor remains unchanged, currently at: 23,734 VND - 26,126 VND.

The USD exchange rates at commercial banks for buying and selling are as follows:

The EUR exchange rates at commercial banks for buying and selling are as follows:

* The Japanese Yen exchange rate at the State Bank of Vietnam's exchange desk increased slightly, currently standing at 166 VND - 183 VND (buying rate - selling rate).