World USD increases sharply; SJC gold reverses to increase, world slightly decreases

World USD increases sharply, officially regains 103 points

USD exchange rate today March 15, 2024, USD VCB increased by 50 VND in both buying and selling directions, at the same time the world USD also increased strongly, officially returning to above 103 points.

The central VND/USD exchange rate announced by the State Bank is adjusted to 23,967 VND/USD, up 10 VND compared to the trading session on March 14.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,115 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 25,115 VND/USD.

Today, USD VCB increased by 50 VND in both buying and selling directions, world USD also increased strongly.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,500 and a selling price of 24,870, an increase of 50 VND compared to the trading session on March 14. The current USD buying and selling prices are in the range of 23,400 - 25,300 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 103.39 points - up 0.59% compared to the transaction on March 14.

SJC gold reversed to increase strongly, world market decreased slightly

After the shocking drop, SJC gold increased the most by 1.6 million VND/tael for buying and 1 million VND/tael for selling, while world gold decreased slightly.

At the time of survey at 5:30 a.m. on March 15, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 79.50 million VND/tael for buying and 81.50 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79.60 - 81.50 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79.60 - 81.70 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,162.130 USD/ounce - today's gold price decreased by 12,255 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 63.644 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 15.856 million VND/tael higher than the international gold price.

Domestic steel prices adjusted down

Today's steel price on the Shanghai Stock Exchange fell 43 yuan/ton; domestic steel fell for the first time in 3 months.

Iron ore futures fell on Wednesday (March 13) on concerns about falling demand in top consumer China amid increased equipment maintenance among steelmakers and the latest environmental curbs in the country's northern region, Reuters reported.

The DCIOcv1 iron ore contract for May delivery on China's Dalian Commodity Exchange (DCE) closed 2.53% lower at 807.5 yuan ($112.29) a tonne, its lowest since August 2023.

The benchmark SZZFJ4 iron ore price for April delivery on the Singapore Exchange (SGX) fell 4.42% to $103.45 a tonne, the lowest since August 2023.

Other steelmaking raw materials on the DCE also fell, with coking coal DJMcv1 and coking coal DCJcv1 falling 3.85% and 2.38%, respectively, to their lowest levels since August last year.

Steel prices in the domestic market, many manufacturers announced a reduction of 200,000 VND/ton for the selling price of construction steel coils, in addition, some manufacturers also reduced the price of D10 rebar by 100,000 VND/ton through direct reduction in the listed price or through discount policies. This is the first official reduction in construction steel prices in the domestic market in 2024.

Currently, the price of construction steel coils at factories after the reduction has a common price range of 14.1 - 14.7 million VND/ton, the price of CB300 ribbed steel bars is from 14.35 - 14.95 million VND/ton (immediate payment price, excluding VAT, after deducting discounts and maximum support).

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