Foreign exchange rates on March 13, 2025: USD strengthens.

DNVN - The US dollar appreciated on March 13, 2025, recovering against the Japanese yen and Swiss franc in Wednesday's trading session, as newly released data showed signs of slowing inflation in the US.

The USD exchange rate situation in the international market.

Foreign exchange rates on March 11, 2025: USD slightly increased.

The Dollar Index (DXY), a measure of the strength of the USD against a basket of six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), reached 103.45 points, a slight increase of 0.12 points compared to the previous session on March 12, 2025.

According to data from the U.S. Department of Labor, consumer prices rose only 0.2% last month, lower than the average forecast of 0.3% from economists surveyed by Reuters.

This report was released amid ongoing trade tensions between the United States and its partners, with unpredictable statements from President Donald Trump regarding tariffs.

In a new development, the European Union announced it will impose retaliatory tariffs on €26 billion (approximately $28.39 billion) worth of goods from the United States, starting in April, in response to Washington's decision to impose tariffs on steel and aluminum that took effect earlier this month.

John Velis, macro strategist for the Americas at BNY, commented: "There was a brief moment of relief with lower-than-expected CPI and that created some currency volatility, but I think the dollar's trend is starting to weaken somewhat due to larger trends and there are too many risks associated with the Ukraine-Russia conflict or tariffs."

Against the Japanese Yen, the USD rose 0.55%, reaching 148.59 Yen. Against the Swiss Franc, the greenback edged up 0.07%, reaching 0.883. However, considering the entire month, the USD is still depreciating against these two currencies.

After hitting a five-month high of $1.0947, the euro weakened as Ukraine announced its readiness to support the US proposal for a 30-day ceasefire with Russia. For its part, the Kremlin said it was awaiting details from Washington.

The euro strengthened significantly thanks to Germany's commitment to large-scale fiscal spending; however, the situation became more complicated as the Green Party opposed the plan and put forward alternative proposals. The euro is currently up 0.27%, at $1.0889, recording a nearly 5% gain against the dollar in March.

The index measuring the strength of the US dollar against a basket of currencies, including the Japanese yen and the euro, rose 0.22% to 103.68, marking a recovery after seven consecutive sessions of declines.

Kenneth Broux, a foreign exchange and interest rate research specialist at Societe Generale, commented: "There are a lot, a lot of things moving. We don't see any safe haven in European assets this morning due to trade war retaliation."

Central bank actions

The Bank of Canada has decided to cut its policy interest rate by another 25 basis points, bringing it down to 2.75%. This move aims to protect the country's economy from the negative impacts of the tariffs imposed by President Trump.

President Trump unexpectedly reversed his decision to double tariffs on steel and aluminum imports from Canada to 50%, just hours after announcing the new tariffs on Tuesday. Earlier, a Canadian official had also withdrawn plans to impose an additional 25% tariff on electrical goods.

In the currency market, the USD fell 0.14% against the Canadian dollar, currently trading at 1.44 CAD to 1 USD. Over the month of March, the greenback weakened 0.36% against the loonie.

The British pound, after reaching a four-month high of $1.29900, reversed course and fell 0.13% to $1.29300 in the latest trading session.

USD exchange rate in the domestic market

At the start of trading on March 13, the State Bank of Vietnam adjusted the central exchange rate of the Vietnamese Dong against the US Dollar, lowering it by 5 dong to 24,758 dong.

At the State Bank of Vietnam's Exchange, the reference exchange rate was listed at 23,571 VND for buying and 25,945 VND for selling, a slight decrease compared to the previous session.

At Vietcombank , the USD exchange rate decreased by 10 dong in both buying and selling directions, currently trading at 25,250 - 25,640 dong/USD.

USD exchange rates at banks:

- VietinBank offers the lowest USD cash purchase rate: 25,120 VND/USD.

- LPBank and OceanBank listed the lowest transfer purchase rate: 25,232 VND/USD.

- HSBC Bank recorded the highest cash purchase rate: 25,355 VND/USD.

- VietinBank is currently buying USD via bank transfer at the highest price: 25,700 VND/USD.

- LPBank and OceanBank are selling USD cash at the lowest price: 25,483 VND/USD.

- HSBC offers the lowest transfer rate: 25,585 VND/USD.

- Saigonbank is selling cash at the highest price: 25,800 VND/USD.

- ABBank lists the highest transfer selling rate: 25,745 VND/USD.

Meanwhile, the Euro exchange rate at the State Bank of Vietnam's exchange desk recorded a slight increase, currently standing at 25,653 - 28,354 VND.

The Japanese Yen exchange rate at the same unit tends to decrease, fluctuating between 159 and 176 VND.