VCB, TPBank increased both prices; BIDV, MB increased selling prices

Today's Yuan exchange rate developments

Chinese Yuan (CNY) exchange rate today, May 24, 2024, Chinese Yuan exchange rate of Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB) increased slightly in both directions of transaction compared to the same time yesterday (May 23): VCB Chinese Yuan buying price is 3,443.11 VND/CNY, selling price is 3,589.99 VND/CNY.

Foreign exchange rates today May 24, 2024 at Vietcombank.

The State Bank announced that the cross exchange rate between Vietnamese Dong and Chinese Yuan applied to calculate export and import taxes, effective from May 23, 2024 to May 29, 2024, is 1 CNY = 3,350.28 VND.

Today's Yuan exchange rate May 24, 2024 at some banks (Photo taken at 9:00 am).

Compare the Chinese Yuan (CNY) exchange rate between the 7 largest banks in Vietnam. Today, May 24, 2024, the CNY exchange rate for buying has 2 banks increasing the buying price, 0 banks decreasing the buying price and 5 banks keeping the buying price unchanged compared to yesterday.

Meanwhile, in the selling direction, 4 banks increased their selling prices, 1 bank decreased their selling prices and 2 banks kept their selling prices unchanged compared to yesterday.

Today, the Foreign Trade Bank bought the highest Chinese Yuan (CNY) at 3,443.11 VND/CNY. The lowest selling Chinese Yuan (CNY) was the Bank for Investment and Development of Vietnam at 3,554.00 VND/CNY.

Today, May 24, 2024, the bank that buys the highest RMB transfer is SacomBank at the price of 3,481.90 VND/CNY.

Of the 20 foreign currencies currently traded at Vietcombank, only 12 currencies are bought and sold by Vietcombank in cash or by transfer: US Dollar (USD), Euro (EUR), Chinese Yuan (CNY), Australian Dollar (AUD), British Pound (GBP), Canadian Dollar (CAD), Swiss Franc (CHF), Singapore Dollar (SGD), Korean Won (KRW), Japanese Yen (JPY), Hong Kong Dollar (HKD), Thai Baht (THB).

For the remaining 8 currencies, customers can transact by bank transfer: Danish Krone (DKK), Indian Rupee (INR), Kuwaiti Dinar (KWD), Malaysian Ringgit (MYR), Norwegian Krone (NOK), Russian Ruble (RUB), Saudi Arabian Riyal (SAR) and Swedish Krona (SEK).

RMB exchange rate at the market price

Today, May 24, 2024, survey at the market price at 9:00 am this morning; slightly increased in both directions of transaction with specific prices: buying price 3,510.00 VND/CNY, selling price 3,560.00 VND/CNY.

Yuan exchange rate at the market price today May 24, 2024 (Photo taken at 9:00 am).

In Hanoi, Ha Trung Street (Hoan Kiem District) is the largest foreign exchange street where many popular currencies can be exchanged, such as USD (US Dollar), Euro, Yen (Japanese Yen), Won (Korean Won)... and many other currencies. However, exchanging money at these foreign exchange streets must comply with Vietnamese law.

Yuan Forecast

The $42 billion in capital from the PBOC to buy back unsold projects is considered by analysts to be just a drop in the bucket to address the current supply-demand gap in the Chinese real estate market. Not to mention, many potential homebuyers are waiting for prices to drop further before buying.

Still, Friday’s announcement underscores China’s renewed focus on reviving economic growth as the world’s second-largest economy faces a range of challenges from rising tariffs in the U.S. to historically high youth unemployment. The question now is whether authorities can strike the right mix of fiscal firepower and policy tweaks to shore up confidence without resorting to a repeat of the massive stimulus measures of past decades.

“China’s plan is somewhat similar to the rescue of financial institutions during the financial crisis. But ultimately, unless the central government steps in and directly uses central government money to save real estate, it will be difficult or too early to believe that the crisis is about to end,” Zhu Ning, a finance professor at the Shanghai Advanced Institute of Finance, told Bloomberg.

Information about the Chinese Yuan

The Chinese Yuan (symbol: ¥, code: CNY) is the official currency of the People's Republic of China, issued in 1948 and has undergone 5 series of replacement issuances. The international abbreviation for the Chinese Yuan is RMB, in Vietnam the Chinese Yuan is often called simplified as Yuan.

Chinese currency in circulation on the market includes 2 types of paper money and coins. The denominations of Chinese currency are 100 yuan, 50 yuan, 20 yuan, 10 yuan, 5 yuan, 2 yuan, 1 yuan (paper money), 1 hao, 2 hao, 5 hao (coins). The counting units of the Chinese currency are Yuan, Jiao, Fen corresponding to yuan, hao, xu with the conversion: 1 yuan = 10 hao, 1 hao = 10 xu.

The Renminbi only circulates in mainland China and is not officially used in Hong Kong and Macau.

Refer to the popular foreign currency exchange - buying and selling Chinese Yuan addresses in Hanoi:

1. Quoc Trinh Ha Trung Gold Shop - No. 27 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

2. Gold and Silver Fine Arts - No. 31 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

3. Minh Chien Gold and Silver Store - No. 119 Cau Giay, Cau Giay District, Hanoi

4. Thinh Quang Gold and Silver Company - No. 43 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

5. Toan Thuy Store - No. 455 Nguyen Trai, Thanh Xuan, Hanoi and No. 6 Nguyen Tuan, Thanh Xuan District, Hanoi

6. Bao Tin Minh Chau Gold, Silver and Gemstones - No. 19 Tran Nhan Tong, Bui Thi Xuan, Hoan Kiem District, Hanoi

7. Chinh Quang Store - No. 30 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

8. Kim Linh 3 Store - No. 47 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

9. Huy Khoi Store - No. 19 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

10. System of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB

Refer to the popular foreign currency exchange - Won buying and selling addresses in Ho Chi Minh City:

1. Minh Thu Currency Exchange - No. 22 Nguyen Thai Binh, District 1, Ho Chi Minh City

2. Kim Mai Gold Shop - 84 Cong Quynh, District 1, Ho Chi Minh City

3. Kim Chau Gold Shop - 784 Dien Bien Phu, Ward 10, District 10. Ho Chi Minh City

4. Saigon Jewelry Center - 40-42 Phan Boi Chau, District 1, Ho Chi Minh City

5. Kim Hung foreign currency exchange agency - No. 209 Pham Van Hai, Binh Chanh, Ho Chi Minh City

6. DOJI Jewelry Store - Diamond Plaza Le Duan, 34 Le Duan, Ben Nghe, District 1, Ho Chi Minh City

7. Kim Tam Hai Shop - No. 27 Truong Chinh, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City

8. Bich Thuy Gold Shop - No. 39 Pham Van Hai Market, Ward 3, Tan Binh District, Ho Chi Minh City

9. Ha Tam Gold Shop - No. 2 Nguyen An Ninh, Ben Thanh Ward, District 1, Ho Chi Minh City

10. System of transaction offices at banks in Ho Chi Minh City such as: Sacombank, VietinBank, Vietcombank, SHB, Eximbank

* Information for reference only!

Source: https://congthuong.vn/ty-gia-nhan-dan-te-hom-nay-2452024-vcb-tpbank-tang-ca-hai-chieu-bidv-mb-tang-gia-chieu-ban-322034.html