USD exchange rate today, September 18, 2024: The US dollar appreciates.

Today's USD exchange rate worldwide

The US Dollar Index (DXY), a measure of the US dollar's volatility against six other major currencies, edged up 0.25% to 101.01.

The US dollar strengthened against most other major currencies in recent trading, thanks to better-than-expected retail sales data, supporting the Federal Reserve's more cautious stance on cutting interest rates for the first time in over four years at its policy meeting today.

According to the latest data released by the U.S. Department of Commerce on September 17, retail sales unexpectedly rose 0.1% in August, indicating that the U.S. economy remained stable in the third quarter of the year.

The US financial regulator, the Fed, will announce its decision on the new interest rate after its meeting on September 18 and 19.

Fed Chairman Jerome Powell will hold a press conference after the meeting to announce this decision. The last time the Fed cut interest rates was in March 2020, when the Covid-19 pandemic began.

According to Marvin Loh, a strategist at State Street, all markets are currently paying attention to the Fed meeting.

The US dollar strengthened against the Japanese yen and the Swiss franc, but weakened against the euro. Futures contracts indicated a 63% probability that the Fed will cut interest rates by 50 basis points, higher than the 30% predicted last week.

New economic data shows that US businesses saw a 0.3% increase in inventories in July, which could influence the Fed's decision. Axel Merk, from Merk Investments, noted that the market is expecting more interest rate cuts in the near future.

The Bank of Japan did not change interest rates at its September 20 meeting but may raise them later. The Bank of England kept interest rates at 5% at its September 19 meeting, despite market expectations of a possible reduction.

The British pound rose 3.41% against the US dollar, thanks to a recovering UK economy and stable inflation. The pound had fallen 0.37% to $1.31665 after the last trading session.

Today's domestic USD exchange rate

The State Bank of Vietnam announced the central exchange rate for VND/USD on September 18th as 24,141 dong, a slight increase of 4 dong compared to the previous day.

The reference USD exchange rate at the State Bank of Vietnam's Exchange remained stable at 23,400 VND for buying and increased by 5 VND for selling to 25,298 VND/USD.

In the free market, the USD exchange rate in Hanoi at 6:38 AM this morning recorded a significant increase, with the buying price at 24,813 VND and the selling price at 24,899 VND/USD.

Vietcombank has increased the buying and selling prices of USD, with the current rate at 24,400 – 24,770 VND/USD, up 50 VND compared to the previous day.

BIDV also listed the buying and selling rates for USD up by 50 dong, reaching 24,430 – 24,770 dong/USD.

Vietinbank announced the sharpest increase, with the USD buying and selling rates at 24,300 – 24,800 VND/USD, an increase of 80 VND.

Eximbank updated the USD buying and selling rates to 24,420 – 24,780 VND/USD, an increase of 60 VND compared to the previous session.