As of 4:00 a.m. on April 9, 2025, the State Bank announced the central exchange rate at 24,898 VND/USD, an increase of 12 VND compared to the end of last week. This is the 5th consecutive increase since the beginning of April. Compared to the beginning of the year, the central exchange rate has increased by a total of 563 VND.

With a fluctuation range of +/-5%, commercial banks are allowed to list exchange rates between 23,654 and 26,142 VND/USD. The reference exchange rate announced by the Foreign Exchange Reserve Management Department is currently 23,704 - 26,092 VND/USD.

The USD exchange rate at many commercial banks increased sharply, exceeding the highest level ever, with an increase of 140 to 180 VND in just a few hours.

At Vietcombank, the exchange rate is currently trading at 25,750 - 26,140 VND/USD, up 160 VND compared to the morning. BIDV and VietinBank also adjusted the exchange rate up to 25,760 - 26,140 VND, up 170 VND compared to the beginning of the session.

Private joint stock banks such as Techcombank also increased the USD exchange rate to 25,770 - 26,120 VND for transfer transactions, and 25,736 - 26,141 VND for cash transactions.

Eximbank recorded the highest increase, with buying price of 25,760 VND and selling price of 26,140 VND, an increase of 180 VND compared to the morning.

Since US President Donald Trump announced the reciprocal tax policy, the USD/VND exchange rate has increased by about 1.1%.

In the international market, the Dollar Index (DXY) - a measure of the strength of the USD compared to 6 other major currencies - increased slightly to 103.01 points, up 0.22 points compared to April 8.

President Donald Trump has ruled out a pause in the reciprocal tariffs. He has also threatened to impose an additional 50% tariff on China if it does not remove a 34% tariff on US imports scheduled for April 10. Trade tensions are escalating.

State Bank Governor Nguyen Thi Hong said the exchange rate is experiencing unpredictable fluctuations following Mr. Trump’s tariff announcement. The exchange rate increased by 0.6% in just the first day after the announcement. As trade partners begin to retaliate, the financial and monetary markets will continue to be complicated by the hour.

The State Bank affirmed that it will closely monitor the situation and operate appropriate monetary policy tools, considering between adjusting exchange rates and the target of lowering interest rates.

In the European currency market, the euro edged up 0.04% against the dollar as the greenback weakened. However, gains were capped by dovish comments from European Central Bank (ECB) officials. Governor Simkus said the ECB should cut interest rates as soon as next week, while Bundesbank President Nagel said the ECB was on track to hit its inflation target.

Investors are expecting an 89% chance of a 0.25 percentage point cut at the ECB's April 17 policy meeting.

USD/JPY fell 0.23%. The yen gained slightly on the back of a weaker dollar and news from the US Treasury Secretary that Japan would be given priority in tariff negotiations with the US. However, weak Japanese economic data and a strong Nikkei stock index limited the safe-haven demand for the yen.

Gold and silver prices surged on safe-haven sentiment. Gold futures for June delivery rose $56.10, or 1.89 percent, while silver for May delivery rose 2.72 percent. The weakness in the dollar, escalating trade tensions between the U.S. and China, and geopolitical uncertainty in the Middle East, with the U.S. continuing airstrikes against Houthi forces in Yemen and Israel resuming attacks on Gaza after a two-month ceasefire, were the reasons.

However, the recovery in global stock markets and rising bond yields have also curbed the demand for safe havens in precious metals. Silver prices have also been affected by concerns that the trade war could slow global economic growth, affecting demand for industrial metals.