Foreign exchange prices on April 23: USD bounces back

Illustration photo. Photo: Internet

USD exchange rate developments in the international market

The Dollar Index (DXY) - a measure of the greenback's strength against six other major currencies including EUR, JPY, GBP, CAD, SEK, CHF - closed at 98.50 points, up slightly by 0.2 points compared to April 22, 2025.

The USD's recovery was boosted after US Treasury Secretary Scott Bessent spoke at a closed-door meeting, expressing confidence in the possibility of easing trade tensions between the US and China.

In a private talk to investors at a conference hosted by JP Morgan, Bessent also compared the upcoming negotiations to a “war” that has yet to be opened.

According to Reuters, many analysts believe that the USD is in a vulnerable state due to concerns about the US administration's tariff policies. The lack of confidence in the independence of the Federal Reserve (Fed) is weakening the USD's position as a global reserve currency, as investors consider the possibility of withdrawing capital from investments that are considered too concentrated in US assets.

USD developments after latest news

The dollar’s ​​decline was further fueled when Thailand’s prime minister announced that trade talks with the US scheduled to begin on Wednesday would be postponed.

President Trump on Monday sharply criticized Fed Chairman Jerome Powell, calling him a “big loser” and demanding that interest rates be cut “NOW” to avoid the risk of a recession .

Adam Button, chief currency analyst at ForexLive, said: "The firing of Jerome Powell would be disastrous for the US dollar and confidence in US capital markets in general."

“The market is hoping that sanity will prevail and the U.S. economy will be allowed to continue to grow,” White House economic adviser Kevin Hassett said Friday. The president and his team are still considering whether to fire Powell, who said last week that the central bank should be patient in adjusting policy.

Money markets are now pricing in a less than 10% chance of a Fed rate cut in May, while expectations for a cut of up to 90 basis points by year-end remain the same as last week.

“The worst-case scenario for the greenback right now is that Powell caves in and does an emergency rate cut, although that remains a low-probability event,” said ING strategist Francesco Pesole.

The dollar fell 0.03% to 140.820 yen against the Japanese yen, after falling below the psychological 140 mark for the first time since mid-September.

The greenback rose 0.57% to 0.8138 Swiss franc, approaching a decade-low of 0.8042 hit in the previous session.

The euro fell 0.38% to $1.1467, after peaking at $1.1573 on Monday – its highest since November 2021.

Domestic USD exchange rate fluctuates slightly

In the domestic market, the central exchange rate announced by the State Bank on the morning of April 23 increased by 9 VND, to 23,907 VND/USD.

The buying and selling exchange rates at the State Bank of Vietnam have been slightly adjusted down, currently listed at: 23,684 VND - 26,070 VND.

At Vietcombank , the USD exchange rate increased by 55 VND in both buying and selling, to 25,725 - 26,115 VND/USD compared to yesterday.

VIB Bank is listing the lowest USD cash buying rate, at VND25,340 per US dollar.

VIB is also the bank offering the lowest USD transfer purchase price, at 25,400 VND/USD.

Sacombank is currently the bank buying USD cash at the highest price, reaching 25,790 VND/USD.

Techcombank is currently leading in USD transfer buying prices, at 25,815 VND per US dollar.

VIB continues to maintain the lowest USD cash selling price in the market, at 25,760 VND/USD.

The lowest USD transfer price is also at VIB, at 25,760 VND/USD.

Banks such as ACB, BIDV, Eximbank, Hong Leong, NCB, Sacombank, Techcombank, TPB, VietABank, VietCapitalBank, VietinBank and VPBank are listing the highest USD cash selling price at 26,120 VND/USD.

The highest USD transfer selling price, reaching 26,120 VND/USD, is being applied by ABBank, ACB, NCB, Sacombank, TPB and VietBank.

The EUR exchange rate at the State Bank of Vietnam increased slightly, currently at: 27,160 VND - 30,019 VND.

The Japanese Yen exchange rate here remains the same as before, currently fluctuating between: 168 VND - 185 VND.

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Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-23-4-dong-usd-bat-tang-tro-lai/20250423085231914