Foreign exchange prices on March 11, 2025: USD increased slightly

DNVN - The US dollar weakened against the Japanese yen and the Swiss franc on Monday, March 11, 2025, as markets continued to grapple with tariff tensions and concerns about the pace of US economic growth.

USD exchange rate in the global market

The Dollar Index (DXY), a measure of the strength of the USD against a basket of six major currencies including EUR, JPY, GBP, CAD, SEK, and CHF, is currently at 103.85 - a slight increase of 0.01 points compared to the trading session on March 10, 2025.

Investors are closely monitoring trade tensions after US President Donald Trump decided to impose tariffs on key trading partners, but also delayed some tariff policies for a month to consider the impact on the US economy.

The US dollar weakened 0.76%, falling to 146.91 Japanese yen, after touching a session low of 146.625 – its lowest level since early October last year. Against the Swiss franc, the USD fell 0.06%, to 0.879 – its lowest level since early December.

Against the Euro, the USD recorded a 0.03% decrease, trading at 1.083350 USD/EUR. Nevertheless, the common European currency remained near its highest level in four months, as investors awaited information on potential spending increases in European countries. Last week, the Euro recorded its strongest gain in 16 years.

A meeting of European Union finance ministers is about to take place to discuss financing options for defense. European nations are ramping up military spending and continuing support for Ukraine after Trump's decision to freeze US military aid to Kyiv, raising concerns about Washington's commitment to its regional allies.

Eugene Epstein, head of structured trading and products in North America at Moneycorp, commented: "Most of the time, all the action in the foreign exchange market revolves around the USD: whether it will be stronger or weaker... But currently, Europe is emerging with its own distinct narrative, with the Euro appreciating on expectations of government spending and the possibility that the European Central Bank may be more hawkish than initially planned."

Data from LSEG suggests investors are pricing in a 75-basis-point interest rate cut by the Federal Reserve this year, with the first rate cut expected in June. The market is now focused on US inflation data, scheduled for release on Wednesday.

In the currency futures market, investors reduced their net long positions in USD to $15.3 billion, compared to a nine-year high of $35.2 billion in January.

Epstein emphasized: "When I look closely at the signals, I see that the Trump administration tends to want a weaker dollar, even if this isn't officially stated."

The latest data shows that Japan's basic wage rose 3.1% in January, following a 2.6% increase in December. This is also the strongest increase since 1992. However, the highest inflation rate in two years has resulted in a decrease in workers' real incomes.

The Bank of Japan is expected to keep interest rates unchanged at its policy meeting on March 18-19, although many officials have mentioned the need to assess the feasibility of sustaining wage growth following the rate hike in January.

Fluctuations of other currencies

The Norwegian crown strengthened significantly against the US dollar and the euro. Specifically, it reached its highest level against the US dollar since October, with an exchange rate of 10.7585 crowns to 1 US dollar, after higher-than-expected inflation data raised doubts about the central bank's plans to cut interest rates in March.

In China, the yuan weakened at the start of the week, after data released over the weekend showed the consumer price index for February fell at its fastest pace in 13 months.

Meanwhile, the Canadian dollar fell 0.33% against the USD, to 1.4415 CAD/USD. Former Bank of Canada Governor Mark Carney won the Canadian Liberal Party leadership election on Sunday, paving the way for policy confrontations with the Trump administration, particularly on trade tariffs.

Domestic USD exchange rate

On the domestic market, at the start of trading on March 11, the State Bank of Vietnam adjusted the central exchange rate of the VND against the USD upwards by 24 dong, reaching 24,754 dong.

The reference exchange rate at the State Bank of Vietnam's Exchange also increased slightly, with the current buying and selling rates at 23,567 VND and 25,941 VND respectively.

Specifically, at Vietcombank, the USD exchange rate was listed at 25,310 - 25,700 VND/USD, an increase of 10 VND in both directions compared to the previous session.

- LPBank and OceanBank currently offer the lowest USD cash purchase price: 25,222 VND/USD.

- LPBank and OceanBank offer the lowest USD transfer buying rates: 25,232 VND/USD

- HSBC Bank listed the highest cash USD buying price: 25,400 VND/USD

- VietinBank offers the highest USD transfer buying rate: 25,697 VND/USD

On the selling side:

- LPBank and OceanBank offer the lowest cash USD exchange rate: 25,483 VND/USD

- HSBC Bank offers the lowest USD transfer rate: 25,630 VND/USD

- Saigonbank listed the highest selling price for USD cash: 25,800 VND/USD

- SCB Bank has the highest USD transfer rate: 25,750 VND/USD

The Euro exchange rate at the State Bank of Vietnam's Exchange Department has increased slightly, currently standing at 25,552 VND - 28,241 VND (buying rate - selling rate).

The Japanese Yen exchange rate also recorded a slight increase, currently trading at 160-176 VND.

Viet Anh (compiled)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-11-3-2025-usd-tang-nhe/20250311084010064