Foreign exchange prices on March 6, 2025: USD depreciated sharply, Index dropped to 104

DNVN - On March 6, 2025, the USD slid to its lowest level in three months as trade tensions between the US and its partners continued to escalate.

The Dollar Index (DXY), which reflects the greenback's value against six major currencies including EUR, JPY, GBP, CAD, SEK and CHF, hit 104.56, down 1.74 points from March 5, 2025.

The US dollar weakened amid rising trade tensions between the US and its partners, while Germany made a major overhaul of its debt policy, leading to the country's biggest bond sell-off since the late 1990s, Reuters reported.

In addition to factors related to tariffs and changes in fiscal policy in Germany, investors also focused on the annual session of China's parliament, where Beijing continued to maintain its economic growth target of around 5% in 2025.

The euro rose to a four-month high, while European stocks rallied, with the long-dated German government bond market suffering its worst day in more than 25 years as yields surged.

In a notable development, German officials have just agreed on a 500 billion euro (equivalent to 534.75 billion USD) infrastructure package, while proposing important reforms to borrowing limits - a move that analysts consider a major turning point.

"Last night, Germany announced plans to implement one of the biggest fiscal regime changes in its post-war history, rivaled perhaps only by the country's reunification 35 years ago," said Deutsche Bank strategist Jim Reid.

“Everything you thought you knew about Germany’s economic outlook three months ago, or even three weeks ago, should be thrown out and you should start your analysis all over again,” he stressed.

Germany's 30-year bond yield - the interest the government pays to raise long-term funds - rose nearly 0.25 percentage point in early trading, its biggest gain since October 1998.

Germany's 30-year bond yield recently edged up 20 basis points to 3.03%.

"It's an acknowledgement that something has changed. Germany is the benchmark against which all other markets are measured. And so this big shift in German fiscal policy is significant. We're a long way from worrying about Germany's fiscal problems. People have been begging Germany to spend for the last 20 years," said Dario Perkins, managing director of global macro at TS Lombard.

Long-term bond yields in other countries followed suit, with France's 30-year bond yield jumping to 4.0%, up 15 basis points, while Italy's 30-year bond yielded 4.517%, up 17 basis points.

The pan-European STOXX 600 index surged 1.2% to a new high. Expectations of higher security spending have boosted defense stocks in the region over the past month.

Domestic USD exchange rate

In the domestic market, at the opening of the trading session on March 6, the State Bank adjusted the central exchange rate of VND against USD down by 5 VND, to 24,750 VND.

The reference buying and selling rates at the State Bank's Transaction Office also decreased slightly, currently at 23,563 VND - 25,937 VND.

Specifically, at Vietcombank, the listed USD price is at 25,290 - 25,680 VND/USD, down 70 VND in both buying and selling compared to the previous session.

LPBank and OceanBank are buying USD cash at the lowest price of 25,222 VND/USD, while the lowest transfer buying rate is 25,232 VND/USD.

On the other hand, HSBC bank has the highest USD cash purchase price, reaching 25,447 VND/USD, while VietinBank listed the highest transfer purchase price at 25,723 VND/USD.

On the selling side, LPBank and OceanBank are applying the lowest cash selling price of 25,483 VND/USD, while OCB maintains the lowest transfer selling price of 25,660 VND/USD.

Saigonbank listed the highest USD cash selling price, at VND25,800/USD, while SCB had the highest transfer selling price at VND25,750/USD.

The Euro exchange rate at the State Bank of Vietnam has slightly increased, currently at 24,968 VND - 27,596 VND.

The Japanese Yen exchange rate at the State Bank of Vietnam decreased slightly, fluctuating between 157 VND - 173 VND.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-6-3-2025-usd-mat-gia-manh-index-giam-xuong-104/20250306083446365