USD exchange rate turns down; SJC gold returns to 67 million VND

USD exchange rate today June 22: USD turns to decrease

USD exchange rate today June 22, USD exchange rate in the world and in the country decreased simultaneously.

The State Bank of Vietnam announced the central exchange rate with the US dollar at 23,718 VND.

World market foreign exchange rates: Yesterday's USD exchange rate developments showed that the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stopped at 102.05 points with a decrease of 0.48% at the close of the session on June 21.

The US dollar fell sharply at the close of trading early this morning Vietnam time after Federal Reserve Chairman Jerome Powell disappointed investors with his comments on the central bank's fight against inflation.

The dollar index, which measures the greenback's value against six other currencies, fell 0.43% to 102.07 after Powell's testimony before the House Financial Services Committee.

Overall, investors expect the Fed to continue raising interest rates at its July meeting, however, financial market indicators reflect doubts that the Fed may hike interest rates more aggressively in the future.

SJC gold price drops to 67 million VND

Gold price today June 22, domestic gold price turned down, with JSC gold price currently at 67.00 million VND/tael (selling). Meanwhile, world gold price continued to slide, down to 1934 USD.

At the time of survey at 5:00 a.m. on June 22, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.40 million VND/tael for buying and 67.00 million VND/tael for selling.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.40 - 67.00 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.40 million VND/tael for buying and 67.95 million VND/tael for selling.

Vietinbank Gold price is listed at 66.40 million VND/tael for buying and 67.02 million VND/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 66.42 - 66.93 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 55.83 - 56.68 million VND/tael.

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 1,934.035 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 54.86 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 12.14 million VND/tael higher than the international gold price. Meanwhile, the US gold futures price decreased by 0.1%, to 1,944.20 USD.

Rice prices continue to rise

Rice prices today, June 22, in the Mekong Delta increased by 100 VND/kg for sticky rice. Currently, domestic supply has decreased sharply, causing rice prices to remain high.

Accordingly, dried Long An sticky rice is currently being purchased by traders at 7,900 - 8,200 VND/kg, an increase of 100 VND/kg.

For the remaining varieties, prices remained stable. Accordingly, at An Giang warehouse, rice prices remained stable. Specifically, OM 18 rice was purchased by traders at 6,800 VND/kg; OM 5451 rice was 6,300 - 6,500 VND/kg. IR 50404 rice was in the range of 6,200 - 6,400 VND/kg. Nang Hoa 9 rice was purchased by traders at the range of 6,600 - 6,800 VND/kg. Dai Thom 8 rice was in the range of 6,800 - 7,000 VND/kg. Nhat rice was in the range of 7,800 - 8,000 VND/kg. Nang Nhen rice (dried) was 13,000 VND/kg; AG sticky rice (fresh) was 6,200 VND/kg; An Giang dried sticky rice fluctuates around 7,400 - 7,600 VND/kg.

Regarding rice, the prices of raw rice and finished products increased. Accordingly, the price of raw rice fluctuated around 9,820 - 9,850 VND/kg, an increase of 20 VND/kg; finished rice was at 11,200 - 11,300 VND/kg, an increase of 50 - 100 VND/kg. Regarding by-products, the price of broken rice remained stable at 9,500 - 9,600 VND/kg. Meanwhile, the price of dry bran decreased by 50 VND/kg to 7,500 - 7,650 VND/kg.

In the rice export market, export rice prices have stagnated and remained unchanged after an upward adjustment session. Accordingly, the price of 5% broken rice from Vietnam is being offered at 503 USD/ton; 25% broken rice at 483 USD/ton; and Jasmine rice at 578 USD/ton. Meanwhile, the export prices of the same type of rice from Thailand, India and Pakistan increased by 2 USD, 5 USD and 10 USD/ton, respectively.

Mr. Phan Van Co, Marketing Director of VRICE Company Limited, analyzed that currently, Vietnamese rice prices are high compared to other rice exporting countries because there are still many previously signed contracts while the winter-spring rice supply has run out, forcing exporters to increase rice purchases at high prices to complete signed contracts, while this year's summer-autumn crop output is forecast to be low.

The low summer-autumn rice yield was due to the lack of water at the beginning of the crop and unfavorable weather conditions, leading to low rice yield and quality, which in turn led to low rice recovery rates. This caused the price of rice to increase very high, while businesses needed to buy rice to complete signed contracts. However, Mr. Phan Van Co is concerned that the high rice price will reduce the competitiveness of Vietnamese rice in the market.

Pepper price decreased by 500 VND/kg in key areas

Pepper price today, June 22, in the domestic market decreased by 500 VND/kg. Currently, domestic pepper price fluctuates around 70,000 - 72,500 VND/kg.

Specifically, in the Central Highlands, the price of Chu Se pepper (Gia Lai) on June 22 was being purchased by traders at 70,000 VND/kg, down 500 VND/kg. In Dak Lak and Dak Nong provinces, pepper prices remained around 71,000 VND/kg, down 500 VND/kg.

Similarly, in the Southeast region, pepper prices today also decreased by 500 VND/kg. In Ba Ria Vung Tau, pepper prices are being purchased by traders at 72,500 VND/kg, down 500 VND/kg. In Binh Phuoc, pepper prices are at 72,000 VND/kg, down 500 VND/kg; Dong Nai 71,000 VND/kg, down 500 VND/kg.

Thus, pepper prices today reversed and decreased after many sessions of stagnation and sideways movement. The domestic pepper market is quiet.

In the world market, at the end of yesterday's trading session, the International Pepper Community (IPC) listed a decrease in prices for Indonesian pepper. Accordingly, the price of Lampung black pepper (Indonesia) closed at 3,724 USD/ton, down 0.32%; the price of Muntok white pepper was 6,150 USD/ton, down 0.31%.

In the remaining countries, pepper prices remained stable. Specifically, the price of Brazilian black pepper ASTA 570 was at 3,350 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton; the price of Malaysian white pepper ASTA remained at 7,300 USD/ton.

Vietnam's black pepper price is trading at 3,500 USD/ton for 500 g/l, 550 g/l at 3,600 USD/ton; white pepper price is at 5,000 USD/ton.

Statistics from the Vietnam Pepper and Spices Association show that pepper exports have slowed down in the last month of the second quarter of 2023. Notably, the decrease in export proportion fell on enterprises outside the association. Enterprises in the association's export volume remained stable. Although China's pepper absorption volume decreased sharply in the first half of June 2023, it is still the largest export market for Vietnamese pepper.

In May 2023, pepper exports reached 28,936 tons of all kinds. The average pepper export price in May 2023 reached 3,106 USD/ton, down 1.62% compared to the average export price in April 2023.