USD exchange rate today (August 18): Will the USD continue to be under downward pressure?

USD exchange rate today: Early morning of August 18, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD remains unchanged, currently at 25,249 VND.

The USD Index (DXY), which measures the greenback's performance against six major currencies, stood at 97.84.

Forecast of USD trend this week

The DXY index recorded a decline of about 0.4% against a basket of currencies last week, reflecting a change in market expectations for US monetary policy.

Chart of DXY Index fluctuations over the past week. Photo: Marketwatch

Most economists polled by Reuters expect the US Federal Reserve to cut interest rates by 25 basis points in September, for the first time this year, and possibly another cut before the end of the year. The decision reflects concerns about the health of the world's largest economy, with inflation rising again under pressure from US President Donald Trump's tariffs and falling hiring data pointing to a weakening labour market.

Mr Trump has criticised Fed Chairman Jerome Powell for his reluctance to cut interest rates. At the July meeting, there was a clear divergence from some members of the Federal Open Market Committee (FOMC) in favour of keeping rates steady.

Coupled with persistent doubts about the Fed's independence from political interference and the declining reliability of economic data, it has become increasingly difficult for economists to make forecasts with high certainty.

August is not typically a time for major forecast changes. Many are looking ahead to the next round of inflation and jobs data, as well as Mr. Powell’s speech at the annual Jackson Hole conference this month, his last as Fed chairman before his term ends next May.

Economists generally maintain a more cautious stance than interest rate futures traders, who are pricing in a near-certain rate cut in September and a strong likelihood of another, perhaps even a third, cut before year-end.

Currently, 61% of economists predict the Fed will lower interest rates to 4.00%-4.25% on September 17, while the remaining 42% believe the Fed will keep interest rates unchanged.

The US dollar is expected to continue to face downward pressure this week, reflecting market expectations that the Fed will cut interest rates at its September meeting, although there are still risk factors that could affect this trend.

Illustration photo: vneconomy.vn/

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on August 18, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 25,249 VND.

* The reference USD exchange rate at the State Bank's buying and selling exchange center remains unchanged, currently at: 24,037 VND - 26,461 VND.

USD exchange rates at commercial banks are as follows:

USD exchange rate	Buy	Sell
Vietcombank	26,060 VND	26,450 VND
Vietinbank	25,905 VND	26,445 VND
BIDV	26,091 VND	26,451 VND

* The EUR exchange rate at the State Bank's exchange office for buying and selling remained stable at: 27,947 VND - 30,888 VND.

EUR exchange rates at commercial banks are as follows:

EUR exchange rate	Buy	Sell
Vietcombank	29,900 VND	31,477 VND
Vietinbank	29,836 VND	31,546 VND
BIDV	30,231 VND	31,472 VND

* The current buying and selling rate of Japanese Yen at the State Bank of Vietnam is: 163 VND - 180 VND.

The buying and selling rates of Japanese Yen at commercial banks are as follows:

Japanese Yen Exchange Rate	Buy	Sell
Vietcombank	172.58 VND	183.54 VND
Vietinbank	174.48 VND	184.18 VND
BIDV	175.42 VND	183.13 VND

Source: https://baolangson.vn/ty-gia-usd-hom-nay-18-8-dong-usd-tiep-tuc-chiu-ap-luc-giam-5056437.html