Gold continues to fall, USD remains unchanged

This morning (April 4), domestic gold prices continued to decline while the USD exchange rate remained stable.

Photo Internet.

This morning, the State Bank announced the central exchange rate (CAR) of the Vietnamese Dong to the US Dollar, applicable for April 4, 2016 as follows: 1 US Dollar = 21,852 VND, an increase of 2 VND compared to April 1.

At Vietcombank, the listed exchange rate is 22,260 - 22,330 VND/USD (buy - sell), an increase of 5 VND for buying and 5 VND for selling compared to April 1.

ACB Bank currently lists the exchange rate at 22,245 - 22,330 VND/USD (buy - sell), an increase of 10 VND per USD compared to the end of last week.

Vietinbank listed the USD/VND exchange rate at 22,245 - 22,325 VND/USD (buy - sell), down 2 VND for buying and down 2 VND for selling compared to April 1.

Some banks kept the exchange rate unchanged from the end of last week, such as: Eximbank listed the USD/VND exchange rate at 22,240 - 22,320 VND/USD (buy - sell). DongAbank listed the USD/VND exchange rate at 22,250 - 22,320 VND/USD (buy - sell).

On the free market, at 9:00 a.m., the USD exchange rate was 22,280 VND/USD for buying and 22,300 VND/USD for selling.

Regarding exchange rates, a report recently released by the Maritime Bank Economic Research Center said that with the current mechanism and especially the way the exchange rate is managed, market sentiment will continue to be stable, expectations of exchange rate increases and decreases, exchange rate fluctuations increasingly reflect the supply and demand status of foreign currencies and the valuation of VND in the market.

The report also emphasized that the exchange rate may continue to stabilize or decrease slightly, creating conditions for the State Bank to buy foreign currency, increase foreign exchange reserves and create more liquidity for VND.

Meanwhile, at the opening of the first trading session of the week today, April 4, the domestic SJC gold price was at 33.25 million VND/tael, down 20,000 VND/tael compared to the closing price at the end of last week.

SJC gold price in Hanoi is currently listed at 33,000 million VND/tael for buying and 33,290 million VND/tael for selling. SJC gold price in Ho Chi Minh City is currently listed at 33,000 million VND/tael for buying and 33,270 million VND for selling.

DOJC gold price in Hanoi is listed at 33.150 million VND/tael, selling price is 33.210 million VND/tael. DOJC gold price in Ho Chi Minh City is currently listed at 33.120 million VND/tael for buying and 33.200 million VND/tael for selling.

In the Asian market this morning, the gold price has not yet determined its direction. At the beginning of the session, the price dropped by 4 USD, down to nearly 1,218 USD. However, it later recovered.

At 7:50 a.m. Hanoi time, the spot price rose back to $1,222, equal to the closing price last week.

According to To Quoc Newspaper