Black market USD price jumps to record high; Rice continues downward trend

Black market USD price jumps to record high

Today, the USD/VND exchange rate, the black market USD price, and the VCB USD price increased sharply to a record high. Meanwhile, the world USD exchange rate reached its highest level in the past 6 months.

The central USD/VND exchange rate today was announced by the State Bank of Vietnam (SBV) at 24,013 VND/USD, an increase of 18 VND compared to the listed rate on September 14.

Currently, the USD exchange rate that commercial banks are allowed to trade is from 23,400 - 25,163 VND/USD. The selling exchange rate is also adjusted by the State Bank of Vietnam to the buying and selling range of 23,400 - 25,163 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank increased 65 VND for the buying price of 24,015 and the selling price of 24,385. The buying and selling prices of USD are currently in the range of 23,400 - 25,300 VND/USD.

Gold prices 9999, SJC, 24K, DOJI, PNJ decrease sharply

Today, the price of 9999, SJC, 24K, DOJI, PNJ gold decreased sharply. World gold nearly reached the lowest level in the past 3 weeks.

At the time of survey at 5:30 a.m. on September 15, 2023, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 67.80 million VND/tael for buying and 68.60 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 68.05 - 68.40 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 67.95 - 68.58 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 67.95 - 68.58 million VND/tael (buy - sell).

Domestic coffee prices rise again

Domestic coffee prices were updated at 4:20 a.m. on September 15, 2023 as follows: Domestic coffee prices continue to be stable, the average coffee price in the Central Highlands provinces is 65,500 VND/kg, of which the highest purchase price in Dak Nong province is 66,900 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on September 15 was VND66,400/kg. In Dak Nong province, coffee was purchased at the highest price of VND66,900/kg.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 65,900 VND/kg.

In Cu M'gar district, Dak Lak province, coffee price is currently at 66,600 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 66,500 VND/kg.

RiceContinue downtrend, slow trading market

Currently, domestic rice prices continue to decrease, market transactions are slow, and traders buy less.

In the Mekong Delta region, there are mixed fluctuations between paddy and rice.

Specifically, at An Giang warehouse, according to the update of the Department of Agriculture and Rural Development of An Giang province, OM 18 rice is priced at 8,000 - 8,100 VND/kg, Dai Thom 8 is stable at 8,000 - 8,200 VND/kg; OM 5451 is priced at 7,700 - 8,000 VND/kg; Nang Hoa 9 is priced at 8,000 - 8,400 VND/kg; IR 50404 rice is stable at 7,800 - 8,000 VND/kg; Nhat rice is 7,800 - 8,000 VND/kg.

For sticky rice, dry An Giang sticky rice is at 9,200 - 9,400 VND/kg; dry Long An sticky rice fluctuates at 9,300 - 9,450 VND/kg.

Rice prices continued to decline. Accordingly, IR 504 raw rice fluctuated around VND 11,000 - 11,8070/kg, down VND 100/kg; IR 504 finished rice was at VND 13,650 - 13,750/kg, down VND 50/kg.

In the Mekong Delta today, transactions of autumn-winter rice of all kinds are slow, prices of all kinds of rice are stable. In the domestic rice market, prices of all kinds of rice tend to decrease. In Dong Thap and An Giang, prices of all kinds of rice decreased by 50-100 VND/kg.

While Vietnamese rice prices have decreased, other suppliers including Thailand and Pakistan have maintained their prices. Of which, Thai 5% broken rice is at 613-617 USD/ton and 25% broken rice is recorded at 558-562 USD/ton; similarly, Pakistani rice is also at 608-612 and 538-542 USD/ton respectively. At current prices, Thai and Vietnamese rice are on par but still 5 USD/ton higher than Pakistani rice.

Forecasting rice prices in the coming time, a business based in Ho Chi Minh City said that the price of 5% broken rice will likely remain around 600 USD/ton, while Jasmine rice will be at 699-700 USD/ton.