Gold has a soaring week; USD exchange rate continues to decline

Gold ends the week on a high note

SJC gold ended the week at over VND82 million/tael, world gold experienced a week of sublimation when continuously setting new peaks.

At the time of survey at 5:00 a.m. on March 10, the gold price on the trading floors of some companies was as follows:

DOJI is listed at 79.45 million VND/tael for buying and 81.95 million VND/tael for selling.

At Mi Hong Jewelry Company, at the time of survey, the listed price of SJC gold was at 80.30 - 81.30 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79.70 - 81.90 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,179.105 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 64.065 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 15.435 million VND/tael higher than the international gold price.

Gold rose to a fresh record high after the latest jobs report reinforced views that a rate cut could come as soon as June.

USD exchange rate continues to fall

USD exchange rate today (March 10), VCB USD continues to be at parity, meanwhile, the world USD continues to continuously decrease.

The central VND/USD exchange rate today (March 10) was announced by the State Bank at 23,996 VND/USD, down 21 VND compared to the trading session on March 8.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,145 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,145 VND/USD.

Japanese Yen exchange rate continues to increase strongly

Japanese Yen and VCB Yen exchange rates continued to increase sharply at the end of the week.

According to a survey by Cong Thuong Newspaper, today's Japanese Yen exchange rate at Sacombank is the bank with the highest Japanese Yen buying rate and Eximbank is the bank with the lowest selling rate among banks.

At banks, specifically as follows: Vietcombank,The Japanese Yen buying rate is 161.84 VND/JPY and the selling rate is 171.30 VND/JPY, up 0.75 VND in buying and up 0.8 VND in selling.

At Vietinbank, the Yen exchange rate increased by 0.56 VND in both buying and selling directions, equivalent to 163.16 VND/JPY and 172.86 VND/JPY.

At BIDV Bank, the Japanese Yen exchange rate increased by 0.31 VND in both buying and selling directions, reaching 162.4 VND/JPY and 171.1 VND/JPY, respectively.

At Agribank, the Japanese Yen exchange rate for buying and selling is 162.6 VND/JPY and 170.97 VND/JPY - an increase of 0.37 VND for buying and an increase of 0.41 VND for selling.

At Eximbank, the buying and selling prices decreased by 0.28 VND, respectively at 163.94 VND/JPY and 168.74 VND/JPY.

At Techcombank, the Japanese Yen exchange rate increased by 0.6 VND at buying and increased by 0.63 VND at selling with prices of 160.79 VND/JPY and 173.28 VND/JPY respectively.

At Sacombank, the Japanese Yen exchange rate increased by 0.52 VND in the buying and selling directions, respectively at 165.31 VND/JPY and 170.38 VND/JPY.

Coffee price drop slightly

Domestic coffee prices were updated at 5:00 a.m. on March 10. Domestic prices decreased slightly during the weekend session, however, coffee prices are still at their peak. Currently, the average purchase price in the Central Highlands provinces is 90,700 VND/kg, the highest purchase price in Dak Nong province is 90,800 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 90,600 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 90,800 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, coffee is purchased at 89,800 VND/kg.

In Dak Lak province, coffee is purchased at a price of 90,700 to 90,800 VND/kg.