USD exchange rate today, December 12, 2024: The US dollar continues its upward trend.

Today's USD exchange rate worldwide

In the US market, the US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose 0.25%, reaching 106.65.

The US dollar rose higher in the last trading session after the latest US Consumer Price Index data came in line with forecasts, bolstering expectations that the Federal Reserve will cut interest rates next week.

New data released on December 11-12 showed that the Consumer Price Index (CPI) rose 0.3% last month, the largest increase since April, after rising 0.2% for four consecutive months. Economists in a Reuters poll had previously forecast a 0.3% increase in the CPI.

Following the CPI report, the probability of the Fed cutting interest rates by 25 basis points at its December 18 meeting has risen to over 94%, according to CME's FedWatch tool. Marc Chandler, market strategist at Bannockburn Forex in New York, USA, believes it is rare for the Federal Reserve to go against market expectations under such high odds.

Analysts said the dollar was also affected by a Reuters report that top Chinese leaders and policymakers are considering allowing the yuan to depreciate by 2025 as they prepare for higher trade tariffs under U.S. President-elect Donald Trump.

Compared to the yuan, the US dollar rose 0.3%. Reports suggest this move by China indicates a move toward stronger economic stimulus in the face of the threat of higher tariffs from Trump. Meanwhile, the US dollar also closed the trading session up 0.44% against the Japanese yen, reaching 152.63 yen.

The yen strengthened early in the session after data showed inflation in Japan accelerating, supporting the possibility of the Bank of Japan raising interest rates next week. On December 11-12, the Bank of Canada cut its policy interest rate by 50 basis points to 3.25% to address slowing growth. That move left the Canadian dollar near its lowest level in over four years against the US dollar, currently pegged at 1.4156 CAD/USD.

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

Today's domestic USD exchange rate

On the domestic market, at the beginning of the trading session on December 12, the State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the US Dollar decreased by 5 dong, currently at 24,253 dong.

* The reference exchange rate at the State Bank of Vietnam's exchange floor remains unchanged, currently at: 23,400 VND - 25,450 VND.

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

* The EUR exchange rate at the State Bank of Vietnam's exchange desk saw a slight decrease in buying and selling rates, currently at: 24,260 VND – 26,814 VND.

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

* The Japanese Yen exchange rate at the State Bank of Vietnam remains unchanged, currently at 152 VND – 168 VND (buying rate – selling rate).