USD price increases after US's decision to impose new tax

Specifically, at commercial banks at 8:30 this morning, Vietcombank listed USD exchange rate at 25,570 - 25,930 VND/USD (buy - sell), up 110 VND in both buying and selling compared to yesterday morning. Similarly, BIDV is listing this foreign currency price at 25,540 - 25,900 VND/USD (buy - sell).

At the State Bank, the central exchange rate this morning was listed at 24,854 VND/USD, up 3 VND compared to the morning of April 2. With a margin of +/-5%, today's ceiling exchange rate is 26,097 VND/USD, the floor exchange rate is 23,611 VND/USD. The reference exchange rate at the State Bank's transaction office is currently 23,662 - 26,046 VND/USD (buy - sell).

For the Chinese Yuan (CNY), today's exchange rates at Vietcombank and BIDV both increased sharply. Accordingly, the CNY price at Vietcombank increased by 16 VND for both buying and selling compared to the morning of April 2, to 3,488 - 3,599 VND/CNY (buy - sell). Meanwhile, at BIDV, the CNY exchange rate is currently 3,501 - 3,597 VND/CNY (buy - sell), an increase of 13 VND for buying and 14 VND for selling compared to yesterday morning.

Earlier, on the afternoon of April 2, US East Coast time (early morning of April 3, Vietnam time), US President Donald Trump announced a basic tax rate of 10% on imports from all countries and higher tariffs on dozens of countries with trade surpluses with the US.

In addition to the basic 10% tax, the Trump administration will also impose reciprocal taxes on other countries that White House deemed to have a trade imbalance with the United States. The tariff would be half the rate those countries charge on US exports.

Notably, the chart held up by Mr. Trump while speaking at the White House showed that the US will impose a 46% tax on imports from Vietnam.

According to a White House statement, a 10% tariff on all goods imported into the US will take effect from April 5, while reciprocal tariffs are expected to take effect from April 9.

Source: https://baoquangninh.vn/gia-usd-bat-tang-sau-quyet-dinh-ap-thue-moi-cua-my-3351533.html