Foreign exchange prices on April 19, 2025: USD falls despite pressure from the Fed

Illustration photo. Photo: Internet

USD exchange rate on the world market

The Dollar Index (DXY), a measure of the greenback's strength against a basket of six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), fell 0.29 points to 99.24 on April 18, 2025.

Despite strong warnings from Fed Chairman Jerome Powell and solid jobs data, the dollar continued to weaken. Mr. Powell warned that persistent inflation during a recession could lead to stagflation, which would provide only short-term support for the dollar.

However, investors still have high expectations for the possibility of interest rate cuts in the near future. The consumer price index (CPI) in March recorded a decrease of 2.4% compared to the same period last year, while the core CPI also decreased to 2.8%, both lower than the previous forecast. At the same time, the number of initial unemployment claims decreased to 215,000, but continuing claims increased to 1.885 million, showing that the labor situation is still under pressure.

According to CME’s FedWatch tool, the market is now predicting a total of 86 basis points of Fed cuts between now and the end of 2025, with the first rate cut likely to come in July – a factor that is weighing on the USD, despite Mr. Powell’s cautious stance.

USD under pressure from trade uncertainty

The dollar has been holding steady as concerns about the economic impact of tariffs grow in the US. Investors are paying particular attention to progress in trade talks between Washington and its partners, and President Donald Trump has criticized Powell for being too slow to cut interest rates.

US President Donald Trump said on April 18 that China has made many moves. Speaking at the White House, President Trump said that China has proactively contacted many times since Washington raised tariffs on Beijing's goods to 145%. "I don't want to raise tariffs on China. If tariffs on China go up, people won't buy," he stressed. The US leader expressed optimism that a trade deal with China could be reached within three to four weeks.

A day earlier, on the social network Truth Social, President Donald Trump expressed optimism about ongoing and upcoming trade negotiations with many countries such as Mexico and Japan. At the same time, he also revealed that China is looking forward to having a formal meeting with his administration.

“I had a very productive call with the President of Mexico. I also met with the highest level Trade Representatives of Japan. It was a very productive meeting. Every country, including China, wanted to meet! Today it was Italy!” he wrote.

As early as April 15, the White House released an official announcement stating that China is now facing import tariffs of up to 245%.

Domestic USD exchange rate

Domestically, the first trading session on April 19 recorded the State Bank adjusting the central exchange rate up by 5 VND, to 23,898 VND/USD.

The reference exchange rate at the State Bank's Exchange has slightly increased in both buying and selling directions, currently trading at 23,704 VND - 26,092 VND.

At Vietcombank, the USD exchange rate is listed at 25,730 - 26,120 VND/USD, an increase of 60 VND in both directions compared to the previous session.

VIB Bank is currently listing the lowest USD cash purchase price on the market at: 1 USD = 25,340 VND.

The lowest USD transfer purchase price also belongs to VIB bank, currently: 1 USD = 25,400 VND.

HSBC Bank is holding the highest position in terms of USD cash purchase price, with the rate: 1 USD = 25,769 VND.

Techcombank offers the highest USD transfer purchase price today, reaching: 1 USD = 25,785 VND.

Regarding the selling price of USD cash, VIB bank is listing the lowest price as: 1 USD = 25,760 VND.

Similarly, VIB is also the bank with the lowest USD transfer price at: 1 USD = 25,760 VND.

Banks such as Eximbank, LPBank, OceanBank, Techcombank and TPB are currently selling USD cash at the highest rate: 1 USD = 26,140 VND.

NCB Bank is leading in USD transfer price, at: 1 USD = 26,142 VND.

The EUR exchange rate at the State Bank of Vietnam has increased slightly, currently listed for buying and selling at: 26,905 VND - 29,738 VND.

The Japanese Yen exchange rate also recorded a slight increase at the State Bank of Vietnam Exchange, currently at: 166 VND - 184 VND.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-19-4-2025-dong-usd-giam-bat-chap-ap-luc-tu-fed/20250419104441091