USD and Japanese Yen exchange rates continue to increase strongly; Gold prices fall sharply in both buying and selling directions

USD increased across the board

The central USD/VND exchange rate today (October 5) announced by the State Bank increased by 20 VND compared to October 4, currently at 24,085 VND/USD.

Currently, the USD exchange rate that commercial banks are allowed to trade is from 23,400 - 25,239 VND/USD. The selling exchange rate is also adjusted by the State Bank of Vietnam to the buying and selling range of 23,400 - 25,239 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank increased the buying price by 30 VND to 24,240 VND and the selling price to 24,580 VND. The buying and selling prices of USD are currently in the range of 23,400 - 25,300 VND/USD.

Japanese Yen exchange rate continues to rise strongly

Japanese Yen exchange rate surveyed on the morning of October 5, 2023 at banks, specifically as follows:

At Vietcombank, the Japanese Yen exchange rate is 158.99 VND/JPY for buying and 168.29 VND/JPY for selling, up 0.8 VND and 0.84 VND respectively. At Vietinbank, the Yen exchange rate increased 0.35 VND in both buying and selling, equivalent to 159.81 VND/JPY and 169.51 VND/JPY. At BIDV, the buying rate increased 0.87 VND and the selling rate increased 0.91 VND, reaching 160.47 VND/JPY and 168.79 VND/JPY respectively. At Agribank, the buying and selling rates were 161.43 VND/JPY and 165.42 VND/JPY, up 0.97 VND and 1 VND, respectively.

At Eximbank, the buying and selling rates increased by VND1.06 and VND1.08, respectively, to VND161.34/JPY and VND165.89/JPY. At Techcombank, the Japanese Yen rate increased by VND1.1 and VND1.11, respectively, to VND157.15/JPY and VND169.45/JPY.

At Sacombank, the Japanese Yen exchange rate is 1.09 VND at the buying price, equivalent to 161.32 VND/JPY, and increased by 1.1 VND at the selling price, equivalent to 167.91 VND/JPY.

Thus, Agribank is the bank with the highest buying rate of Japanese Yen and also the bank with the lowest selling rate among the surveyed banks.

Gold prices fell sharply in both buying and selling directions.

At the time of survey at 5:30 a.m. on October 5, 2023, the gold price on the trading floors of some companies was as follows:

The prices of 9999 gold, SJC, 24K, Mi Hong, DOJI, PNJ have decreased sharply in both buying and selling directions. Currently, the selling price of SJC is 68.85 million VND/tael.

DOJI listed the price of 9999 gold at 68.05 million VND/tael for buying and 68.95 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 68.30 - 68.70 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 68.17 - 68.87 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 68.17 - 68.87 million VND/tael (buy - sell).

World gas prices increase slightly

Opening the morning trading session on October 5, 2023, gas prices in the world market increased slightly by 0.03% to 2.98 USD/mmBTU for natural gas contracts for delivery in November 2023.

In the domestic market, from October 1, 2023, retail gas prices will increase by VND 1,667/kg (including VAT), equivalent to an increase of VND 20,000/12kg cylinder.

The reason for this gas price increase is that the average world gas price in October 2023 was 607.5 USD/ton, an increase of 52.5 USD/ton compared to September 2023.

Domestic gas prices depend on world market developments.

In addition, the high gas price was also due to the explosion at the Bandar Abbas oil refinery in southern Iran after a gas leak affected the world fuel supply, so the world oil price increased to nearly 94 USD/barrel.

This is the third consecutive month that gas prices have increased. Thus, since the beginning of the year, domestic gas prices have decreased 5 times (January, March, April, June and July) and increased 5 times (February, May, August, September and October).

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