USD exchange rate today April 24, 2025: Strong increase again

The US dollar has recovered strongly in the last trading session thanks to expectations that US-China trade tensions may cool down. US President Donald Trump's withdrawal of his threat to fire Federal Reserve Chairman Jerome Powell also contributed to supporting market sentiment.

The Trump administration is considering lowering tariffs on Chinese goods while negotiations continue, stressing that any action would be by consensus and not unilateral. Hopes of an end to the trade war have pushed the dollar higher against the euro and the Swiss franc.

US Treasury Secretary Scott Bessent said any trade deal with China could result in significant reductions in existing tariffs, boosting investor confidence and prompting a quick return to the greenback, which had fallen to near three-year lows on concerns that Mr Trump’s trade policies would hurt the US economy .

The DXY index, which measures the strength of the US dollar against a basket of major currencies, rose sharply in early Asian trading and closed up 0.86% at 99.78. However, the rally has not yet been solid as market sentiment remains cautious, especially around the possibility of replacing the Fed Chairman.

Speaking to reporters in the Oval Office, President Trump said he had no intention of firing Chairman Powell, but wanted him to express a clearer and more positive view on cutting interest rates. Analyst Lee Hardman from MUFG commented that this statement is a positive signal to help stabilize financial markets.

The euro, on the other hand, fell 0.86% to $1.132, from a high of $1.15 earlier in the week – its highest in more than three and a half years. A survey on April 23 showed that business growth in the eurozone is slowing, while Germany’s private sector is shrinking due to the service sector’s struggles and the uncertain business environment.

The dollar also rose 1.27% against the Japanese yen to 143.435. However, despite the recovery, the greenback remained near multi-year lows against the euro and Swiss franc, as well as a seven-month low against the yen.

Earlier this month, President Trump imposed a basic import tariff of 10% or higher on many countries. But then he unexpectedly postponed the higher tariffs for 90 days to give the parties involved time to negotiate. As of April 22, 18 countries had submitted trade proposals, according to White House press secretary Karoline Leavitt, and this week, the US negotiating team is expected to meet with 34 countries to discuss tax policy in more detail.

In the domestic market, at the beginning of the trading session on April 24, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 20 VND, currently at 24,928 VND.

The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,732 VND - 26,124 VND.

USD exchange rate at domestic commercial banks on April 24, 2025. The common selling price remains stable at the highest level of 26,174 VND/USD, maintained simultaneously at many banks such as ACB , BIDV, Eximbank, Vietcombank, Techcombank, MSB, OceanBank and many other units.

In terms of buying, HSBC continued to hold the leading position in cash buying price at 25,863 VND/USD, while Techcombank maintained the highest level in terms of transfer price at 25,885 VND/USD, a slight increase compared to yesterday.

VIB is still the bank with the lowest buying and selling prices in the market. The cash buying and transfer prices here are still at VND25,340 and VND25,400 respectively.

VIB's selling price is also the lowest in the banking system, at VND 25,760 for both forms.

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Source: https://baonghean.vn/ty-gia-usd-hom-nay-24-4-2025-tang-manh-tro-lai-10295807.html