Foreign exchange price on March 13, 2025: USD is on the rise

DNVN - The US dollar rose on March 13, 2025, recovering against the Japanese Yen and Swiss Franc in Wednesday's trading session, as newly released data showed signs of slowing US inflation.

USD exchange rate situation in the international market

Foreign exchange price on March 11, 2025: USD increased slightly

The Dollar Index (DXY), a measure of the strength of the USD against a basket of six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), reached 103.45 points, up slightly by 0.12 points from the previous session on March 12, 2025.

Consumer prices rose just 0.2% last month, below the 0.3% median forecast by economists polled by Reuters, according to data from the US Labor Department.

The report comes amid ongoing trade tensions between the United States and its partners, with unpredictable statements from President Donald Trump regarding tariffs.

In a new development, the European Union announced that it will impose retaliatory tariffs on goods worth 26 billion euros ($28.39 billion) from the United States, starting in April, in response to Washington's decision to impose tariffs on steel and aluminum that took effect earlier this month.

“There was a brief moment of relief because CPI was lower than expected and that created some volatility in currencies, but I think the dollar trend is starting to become a little weak because of the larger trends and there are too many risks related to the Ukraine-Russia conflict or tariffs,” said John Velis, chief macro strategist for the Americas at BNY.

Against the Japanese Yen, the USD increased by 0.55% to 148.59 Yen. Against the Swiss Franc, the greenback inched up by 0.07% to 0.883. However, if we consider the whole month, the USD is still losing value compared to these two currencies.

The euro weakened after hitting a five-month high of $1.0947 as Ukraine said it was ready to support a US proposal for a 30-day ceasefire with Russia, while the Kremlin said it was waiting for details from Washington.

The single currency has been boosted by Germany’s pledge of massive fiscal spending, but the situation has been complicated by the Greens’ opposition and alternative proposals. The euro is up 0.27% at $1.0889, having gained nearly 5% against the dollar in March.

The greenback's index, which measures the greenback's strength against a basket of currencies including the Japanese yen and the euro, rose 0.22% to 103.68, marking a recovery after seven consecutive sessions of decline.

"There are many, many moving parts. We don't see any safe havens in European assets this morning due to the trade war retaliation," said Kenneth Broux, head of foreign exchange and interest rates research at Societe Generale.

Central banks' moves

The Bank of Canada has decided to cut its policy rate by 25 basis points, bringing it down to 2.75%. This move is aimed at protecting the country's economy from the negative impacts of President Trump's tariffs.

President Trump abruptly reversed his decision to double tariffs on steel and aluminum imports from Canada to 50%, just hours after announcing the new tariffs on Tuesday. Earlier, a Canadian official also withdrew plans to impose an additional 25% tariff on electricity.

In the currency market, the USD fell 0.14% against the Canadian dollar, currently trading at CAD 1.44 to USD 1. In March, the greenback weakened 0.36% against the loonie.

The British pound, after hitting a four-month high of $1.29900, fell 0.13% to $1.29300 in the latest trading session.

USD exchange rate in domestic market

At the beginning of the trading session on March 13, the State Bank of Vietnam adjusted the central exchange rate of the Vietnamese Dong to the USD down 5 VND, currently anchored at 24,758 VND.

At the State Bank of Vietnam, the reference exchange rate was listed at 23,571 VND - 25,945 VND for buying and selling, slightly down from the previous session.

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