USD unexpectedly weakens; Domestic gold continues to fall sharply, world trend moves sideways

USD unexpectedly weakens

Today (December 13), USD VCB adjusted up 30 VND for both buying and selling. The world USD unexpectedly weakened after the consumer price index (CPI) report.

The central VND/USD exchange rate announced by the State Bank is adjusted to 23,941 VND/USD, up 9 VND compared to the closing price of the trading session on December 12.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,088 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 25,088 VND/USD.

The bank USD exchange rate and foreign exchange rate this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,060 and a selling price of 24,430, an increase of 30 VND compared to the trading session on December 12. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

Domestic gold continues to fall sharply, world gold trend is sideways

At the time of survey at 5:00 a.m. on December 13, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 72.40 million VND/tael for buying and 73.50 million VND/tael for selling.

The world spot gold price on Kitco is currently at 1,987.8 USD/oz.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 72.60 - 73.40 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 72.68 - 73.55 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 72.50 - 73.70 million VND/tael (buy - sell).

Pepper price increased by 1,000 VND/kg, reaching the highest level of 78,000 VND/kg

Pepper prices today in the Central Highlands and Southeast regions increased by 1,000 VND/kg, ranging from 76,000 - 78,000 VND/kg.

Thus, in recent days, domestic pepper prices in key regions across the country have increased sharply. Data from the General Department of Customs shows that in the first half of November 2023, the amount of pepper exported was 9,610 tons with a value of 36.882 million USD, and the cumulative amount to the reporting period was 235,068 tons, with a value of 79.482 million USD.

giá tiêu.jpeg — Pepper price increased by 1,000 VND/kg, reaching the highest level of 78,000 VND/kg.

The US, China and UAE were the three main export markets in the first half of November with export volumes reaching 1,572 tonnes, 993 tonnes and 636 tonnes respectively. Notably, the US and Chinese markets increased imports from Vietnam compared to the first half of last month.

However, the Vietnam Pepper Association recently said that pepper output in the 2023/24 crop year is expected to decrease by 10-15%, down to 160-165 thousand tons due to the trend of switching to growing other fruit trees with more economic efficiency.

Typically, in Dak Lak province, some businesses said that the area mainly concentrated in Cu Kuin, Ea Hleo, Chu M'gar, Krong Nang, people intercropped durian, because the pepper trees were old and died and people did not plant more. In many places, people are hesitant to switch to growing durian or coffee after the 2024 harvest.

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