| Economic and market news on April 20, 2024: Domestic gold price differs from world price by about 10.4 million VND/tael Gold price today April 21, 2024: Gold price increased again at the end of the week |
Gold price today
At the end of the trading session on the weekend, the world gold price was at 2,390.86 USD/ounce, up 10.81 USD/ounce compared to the previous trading session. Experts said that the upward trajectory of gold is still intact, because this precious metal is being supported by many different factors, including the weakening of the USD. The US Dollar Index closed down to 105.96, increasing the attractiveness of gold to buyers holding other currencies.
 |
| Gold price on the morning of April 21st had many unexpected developments before the auction day |
Domestically, at 9am this morning (April 21), the price of SJC brand gold bars increased in the buying direction but decreased in the selling direction compared to yesterday morning. Specifically, the buying direction was listed at 82 million VND/tael and the selling direction was 83.85 million VND/tael. Gold rings decreased slightly in both directions, at Bao Tin Minh Chau at 9am this morning it was listed at 75.26 million VND/tael for buying and 76.96 million VND/tael for selling.
It is expected that at 10:00 am tomorrow (April 22), the State Bank will auction 16,800 taels of SJC gold bars. Each transaction lot is 100 taels and the deposit rate is 10%. The reference price to calculate the deposit value is 81.8 million VND per tael and the price step is 10,000 VND/tael.
Domestic USD increased sharply
Early this morning, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 178 VND per week, currently at 24,260 VND. The USD Index (DXY), which measures the greenback's fluctuations against 6 major currencies, increased by 0.08% per week, reaching 106.12.
In the world, the USD increased quite strongly last week, in the first trading session of the week, the USD increased by 0.14%, reaching 106.18. This is the highest level since the beginning of November 2023 compared to other currencies. The greenback has increased in value because inflation remains high and strong growth has caused investors to push back expectations about when the US Federal Reserve (Fed) can start cutting interest rates. The US Central Bank is expected to make fewer cuts than before.
Corporate bond debt is about 1 million billion VND
By the end of 2023, 432 enterprises nationwide had issued individual corporate bonds, with the total outstanding debt of individual corporate bonds at the end of 2023 being about 1 million billion VND, accounting for 9.9% of the economy's GDP.
Although the bond market has many fluctuations, in 2023, 88 enterprises issued individual corporate bonds, with an issuance volume of VND 296,800 billion.
Of which, credit institutions issued VND167,000 billion, accounting for 56.3% of the issuance volume; real estate enterprises issued VND87,800 billion, accounting for 29.6%; enterprises in other fields issued VND42,000 billion, accounting for 14.1%.
Most credit institutions issue bonds to raise capital without collateral, while up to 97.7% of bonds issued by real estate enterprises are secured.
Vietnam becomes the largest rice exporting partner in Singapore
The first 3 months of 2024 marked the rise of Vietnam as it became the largest rice exporter to the Singapore market for the first time in recent times, accounting for 32.03% of the market share, higher than India (6.96%) and Thailand (8.28%). At the same time, India and Thailand held the next 2 positions with turnovers of 33.63 million SGD and 33.16 million SGD, respectively. The top 3 exporting countries accounted for 91.21% of the rice market share in Singapore.
According to statistics from the Singapore Corporate Governance Authority, Vietnam's rice exports to the Singapore market in the first 3 months of 2024 continued to grow well, reaching a turnover of about 36.15 million SGD, an increase of 80.46% over the same period in 2023.
Agricultural exports increase sharply
Fruits and vegetables are becoming a bright spot in Vietnam's exports. In the first quarter of 2024, our country's fruit and vegetable export turnover reached 1.25 billion USD, an increase of 27% over the same period in 2023.
This is the first time Vietnam’s fruit and vegetable exports have reached and exceeded 1 billion USD in the first quarter of the year. Contributing to this achievement is durian, considered a billion-dollar fruit with more than 90% of its exports going to China.
From April to July, the peak harvest season of watermelon, lychee, longan, mango, etc. will be an opportunity to increase export revenue from fruits and vegetables. However, the peak harvest requires faster procedures and lower costs to minimize risks and damage.
Source
Comment (0)