Last week, the United States took a new initiative to resume commercial negotiations with China. China then also sent a positive signal, calling on the United States to lift unilateral prices and showing good will in terms of cooperation. This development helps to appease trade tensions between the two largest economies in the world.
In addition, the April Employment Report of April gave positive results, helping the dollar reducing sales pressure. The greenback came out of the territory of occurrence and returned to neutrality, according to a tool for analyzing market trends.
Experts believe that the United States may be forced to start negotiations earlier than expected, due to the negative impact of generalized customs tariffs. The number of cargos arriving in American ports has decreased, especially since retailers and importers have temporarily ceased to place orders from China. If this situation persists, the United States could be faced with the risk of high inflation due to shortages of consumer goods and production equipment.
A thawing of trade tensions, if it is maintained and translated into substantive negotiations, would improve not only bilateral relations but could also promote a rebound in the US dollar.
On the morning of May 5, the US dollar exchange rate on the free market continued to increase compared to the previous session. Meanwhile, the central exchange rate announced by the State Bank is 24,956 VND, down 4 VND compared to the most recent announcement.
At the Vietnam State Bank, the American dollar exchange rate rate was 23,795 VND for purchase and 26,153 VND for sale, slightly drop in both directions compared to the previous session. On the free market of Hanoi, at 5:50 am, the USD was exchanged around 26,430 – 26,530 VND, slightly increased compared to the previous session.
In commercial banks, exchange rates are experiencing mixed adjustments. Vietcombank next to the US dollar at 25,790 – 26,180 VND, up 10 VND in both directions. The BIDV has decreased slightly, exchanging between 25,800 and 26,100 VND. Vietink has increased by 10 VND in each direction, while Eximbank has decreased by 40 VND to the purchase and increased by 10 VND for sale.
In addition to the US dollar, other strong foreign currencies also saw their price increased at Vietcombank during the April 29 session. The euro is negotiated around 28,797 to 30,445 VND. The Sterling book increased to 33,891 – 35 412 VND. The Swiss franc is around 30,657 to 32,033 VND. The Canadian dollar varies from 18,280 to 19,100 VND. The Australian dollar was exchanged between 16,220 and 16,948 VND, while the Japanese yen was between 175 and 187 VND for 1 JPY.
: drop of 0.11 %){kind=link}