DNVN - Foreign currency prices on February 6, 2025, the USD fell to its lowest level in more than a week due to investors' concerns about trade tensions easing.
USD exchange rate on the world market
The Dollar Index (DXY), which reflects the fluctuations of the USD against six major currencies including EUR, JPY, GBP, CAD, SEK, CHF, recorded at 107.62, down 0.39 points compared to February 5, 2025.
The greenback plunged to its lowest in more than a week on Wednesday as investor worries about a global trade war eased, while the Japanese yen benefited from upbeat wage data.
The index measuring the strength of the USD against six other major currencies fell 0.435% to close at 107.58, having previously hit a low of 107.29 - its lowest level since January 27.
The dollar jumped 1.3% to 109.88 on Monday as President Donald Trump prepared to impose 25% tariffs on Mexico and Canada, but then fell nearly 2% as Mexico and Canada were granted a one-month reprieve after pledging to tighten border controls despite the U.S. raising tariffs on China.
"In particular, markets were relieved that China did not retaliate too strongly, suggesting that China is willing to accept higher US tariffs for now," said Adam Button, currency analyst at ForexLive.
The euro rose 0.24% to $1.041 after falling as much as 2.3% on Monday on concerns about the negative impact of tariffs and the possibility of extending them to the European Union.
The dollar fell the most against the yen on Wednesday, helped by upbeat Japanese wage data and comments from a Bank of Japan official hinting at a rate hike.
The greenback fell 1.19% to 152.525, its lowest level since December last year.
"The dollar's decline this morning (Wednesday) appears to be an extension of recent trends, as markets continue to price in tariff risks from the FX market," said Nick Rees, head of macro research at Monex Europe.
The US dollar continued to decline against the yen after data showed the US services sector unexpectedly contracted in January due to weak demand.
The Institute for Supply Management (ISM) reported on Wednesday that its non-manufacturing purchasing managers' index (PMI) fell to 52.8 last month, down from 54.0 in December. Economists polled by Reuters had forecast the services PMI rising to 54.3.
Japan’s inflation-adjusted real wages rose 0.6 percent year-on-year in December, data showed, bolstering traders’ expectations that the Bank of Japan will raise interest rates further this year, with a hike of more than 30 basis points priced in by year-end.
The pound rose 0.2% to a one-month high of $1.255.
President Trump's imposition of new 10% tariffs on China sent the yuan weakening slightly on Monday, as markets returned to trading after the Lunar New Year holiday.
The yuan fell 0.47% in onshore trading, with losses limited by the People’s Bank of China setting its midpoint higher than expected. The currency is allowed to fluctuate within a 2% band around the midpoint.
Investors continue to closely monitor exchange rate developments for signs of whether Beijing will allow the yuan to weaken to cushion the impact of trade measures.
On Tuesday, China responded with its own tariffs on US imports, while on the same day, Mr Trump said he was in no rush to talk to Chinese President Xi Jinping to try to ease tensions.
Domestic USD exchange rate
In the domestic market, in the morning trading session on February 6, the State Bank listed the central exchange rate between the Vietnamese Dong and the USD up 35 VND, to 24,395 VND.
The reference exchange rate at the State Bank of Vietnam remains unchanged at: 23,400 VND - 25,450 VND (buy - sell).
Specifically, at Vietcombank, the USD exchange rate is listed at 24,950 - 25,340 VND/USD, with a decrease of 20 VND in the buying price and an increase of 200 VND in the selling price compared to the previous day.
TPB Bank offers the lowest USD cash purchase price, at: 1 USD = 24,390 VND.
The lowest USD transfer purchase price is recorded at TPB, at: 1 USD = 24,430 VND.
At VietinBank, the highest USD cash purchase price is: 1 USD = 25,190 VND.
VietinBank also leads in USD transfer purchase price with the rate: 1 USD = 25,549 VND.
TPB has the lowest USD cash selling price, at: 1 USD = 24,870 VND.
HSBC offers the lowest USD transfer price, at: 1 USD = 25,296 VND.
Saigonbank is currently listing the highest USD cash selling price, up to: 1 USD = 25,614 VND.
VIB Bank has the highest USD transfer selling price, reaching: 1 USD = 25,525 VND.
The EUR exchange rate at the State Bank of Vietnam recorded a slight increase, currently listed at 24,063 VND - 26,596 VND.
The Japanese Yen exchange rate at the State Bank of Vietnam also increased slightly, with the current buying and selling rates reaching: 151 VND - 167 VND.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-6-2-2025-usd-sut-giam-manh-do-tam-ly-lo-ngai-cua-gioi-dau-tu/20250206103130782
Comment (0)