Thursday, September 21 2017

VietNamNews

Vietnamese đồng continues its four-day rise against USD

Update: January, 07/2017 - 09:34
The State Bank of Việt Nam (SBV) continued to decrease the reference US$/VNĐ exchange rate yesterday by 5 đồng to touch VNĐ22,154 per $1dollar. – Photo trithuctre.vn

HÀ NỘI – The State Bank of Việt Nam (SBV) continued to decrease the reference US$/VNĐ exchange rate yesterday by 5 đồng to touch VNĐ22,154 per $1dollar.

This is the fourth consecutive day the central bank lowered the daily-adjusted reference rate since early this year.

The đồng has showed signs of strengthening since early this year. The US dollar has lost 180 đồng per dollar, equivalent to 0.78 per cent in value, in the last four days.

Commercial banks are allowed to trade the dollar at +/-3 per cent on either side of the reference rate, which is between VNĐ21,489 and VND22,819 yesterday.

The US dollar listed at banks continued to fall against the đồng yesterday and has been trading at the lowest level since December 10, 2016.

Vietcombank listed the rate at VNĐ22,520 and VNĐ22,600 for buying and selling, respectively, down 65 đồng for both buying and selling from the day before.

BIDV quoted its rate at VNĐ22,530/ VNĐ22,610, down 85 đồng for buying and 75 đồng for selling.

Vietinbank also cut the buying rate by 75 đồng to VNĐ22,520 per US dollar and the selling rate by 75 đồng to VNĐ22,590 per dollar.

Other banks including Eximbank, Asia Commercial Bank and HD Bank also lowered their USD/VNĐ exchange rates, quoting the US dollar around VNĐ22,500/VNĐ22,630.

The sharp weakening of the dollar against the đồng was attributed to the slump of the greenback on international markets in the past five days.

The Wall Street Journal Dollar Index, a measure of the value of the US dollar relative to 16 foreign currencies, retreated from the 14-year peak on Thursday, tumbling 1 per cent to 92.08 points.

Gold rises

On the domestic market, gold prices have continued to rise since the beginning of the year.

The gold price of Sai Gon Jewellery Holdings Co (SJC) increased by VNĐ30,000 per tael yesterday to hit VNĐ36.38 million (US$1,609) and VNĐ36.68 million ($1,622) for buying and selling.

SJC gold has gained VNĐ230,000 per tael since January 3.

SJC gold prices listed by both Doji SJC and Phu Quy Company climbed by VNĐ60,000 per tael yesterday to hit VNĐ36.53/VNĐ36.65 million.

Meanwhile, gold produced by Bảo Tín Minh Châu Gold and Jewellery Company (Rồng Thăng Long) rose VNĐ100,000 per tael to VNĐ34.27 million per tael.

On the global market, gold is trading at around $1,178.7 per ounce, up $5 per ounce from Thursday. – VNS

Send Us Your Comments:

See also: