USD exchange rate today December 12, 2024: USD continues to increase

USD exchange rate today in the world

In the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.25% to 106.65.

The US dollar edged higher in the last trading session, after the release of the US Consumer Price Index data in line with forecasts, reinforcing expectations that the US Federal Reserve will cut interest rates next week.

New data released on December 11 showed the Consumer Price Index (CPI) rose 0.3% last month, the biggest increase since April, after rising 0.2% for four consecutive months. Economists polled by Reuters had forecast a 0.3% increase.

Following the CPI report, the probability of the Fed cutting interest rates by 25 basis points at its December 18 meeting increased to more than 94%, according to the CME FedWatch tool. Marc Chandler, market strategist at Bannockburn Forex in New York, said that it is rare for the US Federal Reserve (Fed) to go against market expectations in the context of such large bets.

The dollar was also hit by a Reuters report that China's top leaders and policymakers are considering allowing the yuan to depreciate by 2025 as they prepare for higher trade tariffs under US President-elect Donald Trump, analysts said.

Against the yuan, the dollar rose 0.3%. The move by China reportedly signaled that it was moving toward stronger economic stimulus in the face of Trump's threat of higher tariffs. Meanwhile, the dollar also closed up 0.44% against the Japanese yen, at 152.63 yen.

The yen rose earlier in the session after data showed inflation in Japan accelerated, bolstering the case for the Bank of Japan to raise interest rates next week. On December 11, the Bank of Canada cut its policy rate by 50 basis points to 3.25% to address slowing growth. That move left the currency near its lowest in more than four years against the greenback, currently at 1.4156 CAD/USD.

In a busy week for new monetary policies, the European Central Bank and the Swiss National Bank will also hold important policy meetings today, December 12. The euro fell 0.34% to $1.0492, while the Swiss franc fell 0.21% against the dollar to $0.8846.

USD exchange rate in the country today

In the domestic market, at the beginning of the trading session on December 12, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 5 VND, currently at 24,253 VND.

* The reference exchange rate at the State Bank's buying and selling exchange center remains unchanged, currently at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks for buying and selling are as follows:

* The EUR exchange rate at the State Bank's buying and selling exchange center decreased slightly, currently at: 24,260 VND - 26,814 VND.

EUR exchange rates at commercial banks for buying and selling are as follows:

* The buying and selling rates of Japanese Yen at the State Bank's Exchange remain unchanged, currently at: 152 VND - 168 VND.

Quoc Duong