Japanese Yen "drifts" to 34-year low again
Today, the Japanese Yen exchange rate hit its lowest level in 34 years, the black market Yen exchange rate decreased slightly in both buying and selling directions.
Japanese Yen exchange rates surveyed on the morning of April 23 at specific banks are as follows:
At Vietcombank, the buying rate is 159.56 VND/JPY and the selling rate is 168.87 VND/JPY, down 0.94 VND for buying and 1 VND for selling. At Vietinbank, the Yen rate decreased 0.08 VND for buying and selling, equivalent to 160.17 VND/JPY and 169.87 VND/JPY. At BIDV, it decreased 0.04 VND for buying and selling, reaching 159.65 VND/JPY and 168.05 VND/JPY, respectively.
At Eximbank, the buying rate increased by 0.05 VND and the selling rate increased by 0.26 VND, respectively, to 161.45 VND/JPY and 166.9 VND/JPY. At Techcombank, the Japanese Yen exchange rate decreased by 0.23 VND and the selling rate decreased by 0.3 VND, respectively, to 157.73 VND/JPY and 170.18 VND/JPY. At Sacombank, the Japanese Yen exchange rate decreased by 0.19 VND and the selling rate decreased by 0.22 VND, respectively, to 162.52 VND/JPY and 167.53 VND/JPY.
According to the survey, today Sacombank is the bank with the highest buying rate of Japanese Yen and Eximbank is the bank with the lowest selling rate among the banks.
Domestic coffee price reaches 127,000 VND/kg
Updated at 5:24 a.m. on April 23, domestic coffee prices increased by 3,500 VND/kg, setting a new record price of 127,000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 126,300 VND/kg, the highest purchase price in Dak Nong province is 127,000 VND/kg.
Specifically, coffee is purchased in Gia Lai and Kon Tum provinces at 125,000 VND/kg; in Dak Nong province, it is purchased at the highest price of 127,000 VND/kg.
Green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha are purchased at 126,000 VND/kg.
In Cu M'gar district, Dak Lak province, coffee is purchased at about 126,900 VND/kg, while in Ea H'leo district, Buon Ho town, it is purchased at the same price of 127,000 VND/kg.
Domestic coffee prices have increased sharply due to depleted supply and severe heat leading to drought, causing damage to coffee plants in many growing areas.
If at this time last year, the domestic coffee purchase price was below 50,000 VND/kg, it has now doubled, to over 100,000 VND/kg. The high coffee price is good news for growers but is also causing many challenges for businesses in the coffee supply chain. Many companies cannot buy raw materials or are forced to bear losses, buying at high prices to have goods in time to deliver to partners who have signed contracts in advance. Some are also concerned that some suppliers are slow to deliver, or even not fulfilling contracts because coffee prices are increasing every day.
Steel market cannot make a big breakthrough
Today's steel price on the Shanghai Stock Exchange fell 5 yuan, domestic steel prices remained stable.
Steel prices for September 2024 delivery on the Shanghai Futures Exchange fell 5 yuan to 3,594 yuan/t.
Commenting on the steel market in the coming time, many businesses said that in 2024, the steel market will still be weak because the world's macro economy still has many uncertainties.
At the annual general meeting of shareholders of Hoa Sen Group Joint Stock Company, Mr. Le Phuoc Vu - Chairman of the Board of Directors said that steel prices in 2024 are likely to be lower than the bottom of 2023. Therefore, instead of setting a profit plan of 700 billion VND in the 2023 - 2024 fiscal year as initially planned, the company set a profit plan of 400-500 billion VND to prevent a bad scenario.
Similarly, Mr. Nguyen Viet Thang - General Director of Hoa Phat Group, still forecasts that the company's business results in 2024 will not be able to grow dramatically, even though 2022-2023 is the bottom. This comes from the context of the macro economy still being difficult, the real estate sector, especially in China, has not yet warmed up.
Domestic and world gold suddenly plummeted
At the time of survey at 5:00 a.m. on April 23, the gold price on the trading floors of some companies was as follows:
DOJI listed the price of 9999 gold at 81.00 million VND/tael for buying and 83.45 million VND/tael for selling.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 81.15 - 83.40 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 81.15 - 83.60 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,326.10 USD/ounce, down 65.67 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.271 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 10.729 million VND/tael higher than the international gold price.
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