Market on October 6: Gold increases, 'dollar' decreases
(Baonghean.vn) - Today's market information: Gold price suddenly increased sharply; USD exchange rate changed direction and decreased simultaneously; Domestic coffee price decreased to 64,400 VND/kg; Rice export brought in nearly 3.7 billion USD...
Gold price suddenly increased sharply
Today, the price of 9999 gold, SJC, Mi Hong, 24K, DOJI, PNJ suddenly increased sharply. Meanwhile, world gold recorded a decrease for the 9th consecutive session.
Survey at 5:30 a.m. on October 6, gold prices on the trading floors of some companies are as follows:
Today's 9999 gold price is listed by DOJI at 68.10 million VND/tael for buying and 69.00 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 68.45 - 68.85 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 68.33 - 68.93 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 68.33 - 68.93 million VND/tael (buy - sell).
USD exchange rate changes direction and decreases simultaneously
Today (October 6), the USD/VND exchange rate, the black market USD price, and the VCB USD price all changed direction and decreased simultaneously. Currently, the VCB USD selling price is at 24,580 VND/USD.
The central USD/VND exchange rate announced by the State Bank decreased by 1 VND compared to October 5, currently at 24,084 VND/USD.
Currently, the USD exchange rate that commercial banks are allowed to trade is from 23,400 - 25,238 VND/USD. The selling exchange rate has also been adjusted by the State Bank of Vietnam to the buying and selling range of 23,400 - 25,238 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 reduced the buying price by 20 VND to 24,240 and the selling price to 24,580. The buying and selling prices of USD are currently in the range of 23,400 - 25,300 VND/USD.
Domestic coffee prices drop to 64,400 VND/kg
Updated at 4:30 a.m. on October 6 as follows: Domestic coffee prices continued to turn red and decrease sharply, the decrease was about 400 - 500 VND/kg, coffee prices in the Central Highlands provinces returned to around 64,500 VND/kg, the highest purchase price was 64,600 VND/kg.
Specifically, in Gia Lai and Kon Tum provinces on October 6, the price was 64,400 VND/kg. In Dak Nong province, coffee was purchased at 64,600 VND/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, is purchased at 64,000 VND/kg.
In Cu M'gar district, Dak Lak province, coffee price is currently at 64,400 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 64,500 VND/kg.
Rice exports bring in nearly 3.7 billion USD
The Ministry of Agriculture and Rural Development said that rice export turnover in the first 9 months of 2023 reached 3.66 billion USD, an increase of 40.4% over the same period in 2022. This figure has exceeded the highest rice export value ever achieved in 2011 (3.65 billion USD).
The average export price of rice since the beginning of the year has always been high, reaching 553 USD/ton, up 14% over the same period last year. At one point, the export price of Vietnamese rice even reached nearly 650 USD/ton - the highest in the world.
Experts say that the opportunity to export rice from now until the end of the year is still very large as countries are still increasing rice imports for reserves. In particular, currently, rice production in Malaysia still needs to import up to 30% to ensure domestic consumption and reserve requirements. The Philippines needs to import an additional 1.1 million tons, Indonesia needs to import 2.3 million tons of rice by the end of the year. Along with that, the demand for rice imports from China is also forecast to increase in the last months of the year.
According to forecasts, in the highest scenario, if the market continues to be favorable, the amount of rice exported will still maintain the level of 800,000 tons/month as last September, then in the last 3 months of the year, it is possible to export more than 2 million tons. However, with the calculated domestic supply, along with the forecast that the market will not be as good as the last 2 months, in the fourth quarter, it is forecasted that each month will export about 500,000 tons. Thus, the whole year will likely export a record 8 million tons of rice, setting a record turnover of 4.5 billion USD.
