Japanese Yen Falls to 3-Week Low
The Japanese Yen fell to a three-week low today as US business activity picked up, sending the black market Yen rate tumbling.
Japanese Yen exchange rate surveyed on the morning of May 24, 2024 at banks as follows:
At Vietcombank, the buying rate is 157.53 VND/JPY and the selling rate is 166.73 VND/JPY, down 0.49 VND for buying and 0.51 VND for selling. At Vietinbank, the Yen rate decreased 0.21 VND for buying and 1.27 VND for selling, equivalent to 159.02 VND/JPY and 166.97 VND/JPY. At BIDV, the Japanese Yen rate increased 0.05 VND for buying and 0.88 VND for selling, reaching 158.36 VND/JPY and 166.87 VND/JPY, respectively. At Agribank, the Japanese Yen rate for buying and selling is 158.63 VND/JPY and 166.45 VND/JPY - up 0.26 VND for buying and selling.
At Eximbank, the buying rate decreased by 0.43 VND and the selling rate decreased by 0.19 VND, respectively, to 159.89 VND/JPY and 165.25 VND/JPY. At Techcombank, the buying rate decreased by 0.24 VND and the selling rate decreased by 0.22 VND, respectively, to 155.88 VND/JPY and 168.26 VND/JPY. At Sacombank, the Japanese Yen exchange rate decreased by 0.34 VND and the selling rate decreased by 0.32 VND, respectively, to 160.47 VND/JPY and 165.5 VND/JPY. At HSBC, the Japanese Yen exchange rate decreased by 0.53 VND and the selling rate decreased by 0.57 VND, respectively, to 157.92 VND/JPY and 164.58 VND/JPY.
According to the survey, today Sacombank is the bank with the highest buying rate of Japanese Yen and HSBC is the bank with the lowest selling rate among the banks.
USD continues to accelerate past 105 mark
Today, VCB USD continued to increase by 4 VND in both directions, the world USD surpassed the 105 point mark thanks to the boost from US business activities.
The central VND/USD exchange rate announced by the State Bank is adjusted to 24,258 VND/USD, up 4 VND compared to the trading session on May 23.
Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,450 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,450 VND/USD.
The USD exchange rate at banks and foreign exchange rates this morning recorded a series of mixed increases and decreases at banks. Specifically, Vietcombank has a buying price of 25,220 and a selling price of 25,470, down 16 VND in the buying price and up 4 VND in the selling price compared to the trading session on May 23. The current USD buying and selling prices are in the range of 24,000 - 25,500 VND/USD.
In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 105.04 points - up 0.15% compared to the transaction on May 23.
SJC gold plummets, losing the 90 million VND/tael mark
Today, SJC gold decreased by more than 1 million VND/tael, pulling the price down to below 90 million VND/tael, world gold price continued to decline.
At the time of survey at 5:00 a.m. on May 24, 2024, the gold price on the trading floors of some companies was as follows:
DOJI listed the price of 9999 gold at 87.80 million VND/tael for buying and 89.60 million VND/tael for selling.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87.85 - 89.50 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 87.95 - 89.60 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,328.21 USD/ounce, down 50.29 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.544 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 17.256 million VND/tael higher than the international gold price.
Gas price drops sharply at the end of the week
Opening the morning trading session on May 24, 2024, gas prices in the world market decreased by 0.68% to 2.64 USD/mmBTU for natural gas contracts for delivery in June 2024.
In the domestic market, domestic retail gas prices in May continued to decrease since May 1. Accordingly, for 12kg gas cylinders, gas companies will reduce prices by more than VND7,000/cylinder. Thus, domestic retail gas prices have decreased for the second consecutive month since the beginning of the year.
Specifically, the retail price of Petrolimex gas cylinders (including VAT) in May 2024 in the Hanoi market is 448,800 VND/12 kg household cylinder; 1,795,200 VND/48 kg industrial cylinder, respectively decreasing by 7,300 VND/12 kg cylinder and 29,100 VND/48 kg cylinder (including VAT).
Similarly, the gas prices of City Petro, Vina Pacific Petro, and Vimexco of Ho Chi Minh City Energy Import-Export Joint Stock Company also decreased by VND5,000/12kg cylinder and VND21,000/50kg cylinder. Accordingly, the retail gas price to consumers does not exceed VND471,000/12kg cylinder and VND1,960,500/50kg cylinder.
The reason for this price reduction is that the average world gas price contract in May was at 582.5 USD/ton, down 35 USD/ton compared to April, and also due to fluctuations in the USD exchange rate, so domestic prices were adjusted accordingly.
Thus, since the beginning of the year, domestic gas prices have increased 3 times (January, February, March) and decreased 2 times (April, May).
Source
![[Photo] Prime Minister Pham Minh Chinh chairs Government Conference with localities on economic growth](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/21/f34583484f2643a2a2b72168a0d64baa)
Comment (0)