USD exchange rate today (July 1): Vietnamese Dong increases compared to USD

USD exchange rate today: Early morning of July 1, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased, currently at 25,052 VND.

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.63% to 96.79.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch

USD exchange rate today in the world

The Japanese yen rose sharply after the Bank of Japan (BOJ) announced that it would raise interest rates by 0.25%, higher than market expectations. This caused the US dollar to fall nearly 0.5% to 153.29 yen. However, some experts believe that the yen's rise may be temporary, as the large interest rate differential between Japan and the US still exists.

The BOJ is also expected to announce plans to gradually reduce its massive bond-buying program - a move that would mark a step back from its decade-long easing policy.

“We’ve seen quite a bit of volatility in the yen today,” said Shaun Osborne, chief foreign exchange strategist at Scotiabank in Toronto, Canada. “Many people thought the yen’s strength was fully priced in, but the reality is that positions are starting to unwind, particularly those borrowing yen to invest in higher-yielding assets,” he said.

Mr Osborne assessed that the yen's fair value could be around 145 yen per dollar, noting that “the exit from the yen short position is not yet complete and could be reversed”.

Since the beginning of July, the USD has lost about 4.7% against the yen.

The US Federal Reserve is expected to keep interest rates unchanged at its meeting on Wednesday, but investors are expecting the Fed to give a clearer signal on rate cuts.

Markets are now pricing in a near-certainty of a September rate cut, with expectations for one or two more cuts before the end of the year. But the Fed is cautious about signaling too early if inflation unexpectedly rebounds, so a clearer signal could come at next month’s Jackson Hole conference.

In addition, US economic data released on June 30 showed a slight decrease in the number of job vacancies, while consumer confidence in the labor market continued to deteriorate - factors that could prompt the Fed to ease sooner.

In Europe, the euro fell 0.06% to trade around $1.0812. Eurozone growth in the second quarter of 2025 slightly exceeded expectations, but the outlook was still clouded by weak confidence indicators and a rebound in German inflation.

Meanwhile, the pound fell 0.2% to $1.2833, under pressure ahead of a Bank of England (BoE) policy meeting where the decision on an interest rate cut remains divided.

Illustration: cafef.vn — Illustration photo: cafef.vn

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on July 1, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 25,052 VND.

* The reference USD exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 23,850 VND - 26,254 VND.

USD exchange rates at commercial banks are as follows: