USD rates soar, gold price falls
USD rates soar, gold price falls
The rate of the US dollar continued to soar at local commercial banks on Wednesday.
Vietcombank increased the rate by VND15 against Tuesday, listing the rate at VND22,720 and VND22,790 for buying and selling, respectively.
At BIDV, the US dollar is being traded at VND22,715 and VND22,785, an increase of VND10 in both buying and selling rate compared to February 27.
The green back is being bought at Vietinbank at VND22,712 and sold at VND22,782, both up by VND5.
State Bank of Viet Nam set the daily reference exchange rate at VND22,463 per US dollar on Wednesday, up by VND15 from the previous day. With the current trading band of +/- three per cent, the ceiling rate applied to commercial banks during the day is VND23,136 per US dollar and the floor rate is VND21,792 per US dollar. The opening hour rates at commercial banks continued to rise for another day.
Gold prices fall sharply
Gold prices slumped in the Vietnamese market on Wednesday morning.
The buying and selling price of SJC gold at Sai Gon Jewellery Holdings Co. touched VND36.64 million per tael and VND36.82 million per tael respectively, a fall of VND130,000 per tael and VND120,000 per tael on Wednesday morning compared to the previous session.
In the Ha Noi market, selling price of one tael of gold, or 1.205 ounces, of State-owned SJC declined by VND190,000 to VND36.75 million.
Doji Gold and Jewellery Corporation listed its selling price at VND36.78 million per tael and VND37.08 million per tael, respectively. This is a slight decrease of VND20,000 per tael and VND10,000 per tael compared to the previous session.
