USD exchange rate today September 13, 2024: Domestic and international prices both decrease sharply

USD exchange rate today in the world

The US Dollar Index (DXY), which measures the greenback's performance against six major currencies, fell 0.45% to 101.23.

The euro (EUR) has gained in recent trading sessions, after the European Central Bank (ECB) decided to cut interest rates and affirmed that it will rely on economic data to shape its next policy.

ECB President Christine Lagarde said a decision on interest rates would be made at each meeting, after the ECB cut rates by another 25 basis points on September 12 amid falling inflation and slowing economic growth.

The ECB cut its deposit rate to 3.5%, in line with expectations. Interest rate futures are pointing to a decline in expectations for a further rate cut in October.

Yael Selfin, chief economist at KPMG in the UK, said that while there was consensus on easing policy, opinions on the pace of rate cuts remained divided.

The euro rose 0.37% to $1.105 in trading, but was down 0.5% for the week. Against the Japanese yen, the euro rose about 0.2% to 157.145 yen.

The rise in the euro was partly responsible for the fall in the DXY index.

The US dollar fell 0.2% against the yen to 142.07, after rising 0.2% so far this week.

Steve Englander, head of G10 global FX research at Standard Chartered in New York, said Lagarde met market expectations.

The pound also gained against the US dollar, reaching $1.3106, after falling to its lowest since August 20 at $1.30025.

Recent economic data from the US has raised expectations that the US Federal Reserve (Fed) may cut interest rates by 25 basis points next week. The number of unemployment claims in the US increased slightly to 230,000 in the first week of September, reflecting stability in the labor market.

US producer prices rose 0.2% in August, partly due to rising service costs, reflecting a moderation in inflation. Scott Helfstein of Global X said stable producer prices could encourage investment and boost economic growth, and expressed the view that the Fed should cut interest rates gradually.

Markets are pricing in a 27% chance the Fed will cut interest rates by 50 basis points this month, down from 50% last week.

For 2024, the market expects the Fed to cut rates by a total of 108 basis points, less than the 113 basis points forecast earlier this week.

Naoki Tamura from the Bank of Japan (BOJ) stressed that the BOJ needs to raise interest rates by at least 1% in the second half of this year and will likely do so slowly and in stages.

The Japanese yen has gained 2.6% against the US dollar this year, partly thanks to comments from Tamura.

USD exchange rate today in the country

The State Bank announced the central VND/USD exchange rate for September 13 at 24,187 VND, down 25 VND compared to the previous rate.

The reference USD exchange rate at the State Bank of Vietnam is stable, with the buying rate at 23,400 VND and the selling rate at 25,450 VND.

In the free market, the USD exchange rate decreased significantly, with the buying price being 24,964 VND and the selling price being 25,064 VND this morning in Hanoi.

Vietcombank increased the USD buying and selling prices, with the current levels being 24,380 VND for buying and 24,750 VND for selling.

BIDV also increased the USD buying and selling prices, listed at 24,405 VND for buying and 24,745 VND for selling.

Vietinbank increased the USD buying and selling prices strongly, with 24,270 VND buying and 24,770 VND selling.

Eximbank slightly increased the USD buying and selling prices, at 24,350 VND for buying and 24,710 VND for selling.