Domestic and world gold prices both slightly decreased; Japanese Yen rebounded

Domestic and world gold prices both decreased slightly

Today, after a strong increase, SJC gold reversed and decreased by 200,000 VND/tael, reaching 90 million VND/tael, while world gold also slightly decreased.

At the time of survey at 5:00 a.m. on May 17, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 87.50 million VND/tael for buying and 89.50 million VND/tael for selling.

Domestic and world gold prices both decreased slightly.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 88.30 - 89.90 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87.55 - 90.50 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 87.60 - 90.10 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,377.50 USD/ounce, down 8.2 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 71.758 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 15.742 million VND/tael higher than the international gold price.

Domestic USD drops sharply, world recovers

Today, USD VCB dropped sharply by 30 VND in both buying and selling directions, while the world USD recovered slightly from the lowest level in 5 weeks.

The central VND/USD exchange rate announced by the State Bank is adjusted to 24,240 VND/USD, down 29 VND compared to the trading session on May 16.

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 domestic foreign exchange rates this morning recorded a series of downward adjustments at banks. Specifically, Vietcombank has a buying price of 25,122 and a selling price of 25,452, down 30 VND in both buying and selling compared to the trading session on May 16. 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 104.51 points - up 0.16% compared to the transaction on May 16.

Japanese Yen unexpectedly bounces back

Today, the Japanese Yen exchange rate suddenly reversed and increased sharply after a series of days of weakness, while the black market Yen exchange rate turned to decrease slightly.

Japanese Yen exchange rates surveyed on the morning of May 17 at specific banks are as follows:

At Vietcombank, the buying rate of Japanese Yen is 160.20 VND/JPY and the selling rate is 169.55 VND/JPY, up 2.32 VND for buying and 2.59 VND for selling. At Vietinbank, the Yen rate decreased 0.31 VND for buying and selling, equivalent to 159.63 VND/JPY and 169.33 VND/JPY. At BIDV, the Japanese Yen rate increased 2.1 VND for buying and 2.21 VND for selling, respectively reaching 159.91 VND/JPY and 168.35 VND/JPY.

At Eximbank, the buying rate increased by 1.65 VND and the selling rate increased by 0.88 VND, respectively, to 161.56 VND/JPY and 166.99 VND/JPY. At Sacombank, the Japanese Yen exchange rate increased by 2.59 VND and the selling rate, respectively, to 163.3 VND/JPY and 168.31 VND/JPY. At HSBC, the Japanese Yen exchange rate increased by 0.19 VND and the selling rate increased by 0.17 VND, respectively, to 158.63 VND/JPY and 165.36 VND/JPY.

Thus, 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.

Source