Foreign exchange rates, USD/VND exchange rate today, April 3: USD plummets, investor confidence weakens, is it... Mr. Trump's fault?

Exchange rate developments in the domestic market

In the domestic market, according to the World and Vietnam Newspaper at 8:00 a.m. on April 3, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 16 VND, currently at 23,851 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,659 VND - 26,043 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank : 25,430 - 25,820 VND.

Vietinbank : 25,300 - 25,880 VND.

Foreign exchange rates, USD/VND exchange rate today, April 3: USD plummets, investor confidence weakens, is it... Mr. Trump's fault? (Source: Getty Images)

World market developments

The US Dollar Index (DXY) measuring the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.57% to 103.69.

The US dollar weakened after US President Donald Trump began announcing new tariffs.

At the end of the trading session after Mr. Trump reaffirmed that the US would impose a 25% tax on foreign-made cars, the EUR rose to 1.0895 USD, up 0.92% against the greenback, then cooled down and closed the trading session up 0.3%, reaching 1.0828 USD.

Meanwhile, the US dollar fell 0.2% against the Japanese yen to 149.255 yen after trading higher for most of the session.

President Donald Trump said he would impose a 10% base tariff on all imports into the US, along with higher tariffs on some of the country's largest trading partners.

That means all countries and territories are subject to this common 10% import tax.

At the event, the US President also brought a board showing the tax rates applied to each economy, with tax rates ranging from 10% to 49%. Of which, the UK, Brazil, and Singapore will pay 10% tax. The European Union, Malaysia, Japan, South Korea, and India will pay 20-26%.

China and Vietnam are among the countries subject to the highest tax rates, at 34% and 46% respectively.

Against major currencies, the Yen regained some of its appeal, despite falling on the day against the EUR.

Experts say US President Donald Trump's tariff policies are reducing confidence in the US dollar and prompting investors to seek other foreign exchange transactions.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-34-usd-lao-doc-niem-tin-nha-dau-tu-suy-yeu-loi-tai-ong-trump-309715.html