Japanese Yen surges; domestic coffee prices plummet.

The USD exchange rate fell sharply today.

USD exchange rateToday, November 18, 2023, the buying and selling rates decreased by 40 dong. The global USD depreciated sharply, falling to only 103.8 points.

Currently, the permitted exchange rate for commercial banks ranges from 23,400 to 25,120 VND/USD. The US dollar exchange rate has also been brought within the buying and selling range of 23,400 to 25,120 VND/USD by the State Bank of Vietnam's Exchange Department.

Specifically, Vietcombank's buying rate is 24,045 and the selling rate is 24,415, a decrease of 40 dong compared to the closing rate of yesterday's trading session. The current buying and selling prices of USD are in the range of 23,400 - 25,300 VND/USD.

Japanese Yen Soars

Exchange rateJapanese YenToday, November 18, 2023, prices surged. A survey conducted this morning, November 18, 2023, at various banks revealed the following: At Vietcombank,Vietcombank's Japanese Yen exchange rate is 156.55 VND/JPY for buying and 165.71 VND/JPY for selling, an increase of 0.57 VND in the buying rate and 0.6 VND in the selling rate.

At Vietinbank, the Yen exchange rate increased by 1.58 dong in both buying and selling directions, equivalent to 158.05 VND/JPY and 167.75 VND/JPY respectively.

At BIDV Bank, the Japanese Yen exchange rate increased by 0.72 VND on the buying side and 0.74 VND on the selling side, reaching 157.48 VND/JPY and 165.75 VND/JPY respectively.

At Agribank, the Japanese Yen exchange rate for buying and selling is 158.80 VND/JPY and 163.74 VND/JPY respectively – an increase of 0.45 VND in the buying rate and 0.48 VND in the selling rate.

At Eximbank, the buying rate increased by 1.39 dong and the selling rate increased by 1.52 dong, reaching 158.48 VND/JPY and 164.01 VND/JPY respectively.

At Techcombank, the Japanese Yen exchange rate increased by 0.57 VND on the buying side and 0.54 VND on the selling side, reaching 154.36 VND/JPY and 165.32 VND/JPY respectively.

At Sacombank, the Japanese Yen exchange rate increased by 1.21 VND on the buying side and 1.25 VND on the selling side, reaching 159.26 VND/JPY and 165.85 VND/JPY respectively.

At NCB Bank, the Japanese Yen exchange rate is 157.06 VND/JPY for buying and 164.01 VND/JPY for selling (corresponding to an increase of 0.42 VND for buying and 0.43 VND for selling).

At HSBC Bank, the Japanese Yen exchange rate increased by 1.25 VND on the buying side and 0.64 VND on the selling side, reaching 157.29 VND/JPY and 164.22 VND/JPY respectively.

According to a survey of the black market in Hanoi, the Japanese Yen/VND exchange rate increased by 0.39 dong in both buying and selling directions, trading at 163.14 VND/JPY for buying and 164.14 VND/JPY for selling, respectively.

World oil prices rise from a 4-month low.

On the global market,gasoline pricesToday, November 18th, the trend is upward, continuing the gains from the previous session.

On November 17th, world oil prices reversed course and rose after falling nearly 5% to a four-month low on November 16th.

According to data from Oilprice, at 8:29 PM on November 17th (Vietnam time), Brent crude oil was trading at $78.48 per barrel, up $1.06, or 1.37%, from the previous session. WTI crude oil was trading at $73.78 per barrel, up $0.88, or 1.21%, from the previous session.

Weak demand in China and the US is putting significant pressure on oil prices.

The US economy continued to weaken as industrial production and manufacturing output fell by 0.6% and 0.7% respectively in October. In addition, US retail sales declined for the first time in seven months in October due to lower motor vehicle purchases and hobby spending.

The drop in oil prices to a four-month low could put pressure on the Organization of Petroleum Exporting Countries and its allies (OPEC+).

Many analysts predict that Saudi Arabia, the leader of the OPEC+ group, will extend oil production cuts into 2024 due to weak demand.

Domestic coffee prices have dropped significantly.

PricecoffeeDomestic coffee prices, updated at 4:24 AM on November 18, 2023, reversed course and fell sharply, with a decrease of 1,100 - 1,300 VND/kg. Currently, the average coffee price in the Central Highlands provinces is around 58,500 VND/kg, with the highest purchase price in Dak Lak province at 58,800 VND/kg.

Specifically, the purchase price of coffee in Gia Lai and Kon Tum provinces on November 18, 2023, was relatively high at 58,500 VND/kg (a decrease of 1,200 VND/kg); in Dak Nong province, coffee was purchased at a corresponding price of 58,500 VND/kg (a decrease of 1,300 VND/kg).

In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of green coffee beans (fresh coffee beans) is being purchased at 58,100 VND/kg (a decrease of 1,100 VND/kg).

Today's coffee prices in Dak Lak province are highest; in Cu M'gar district, coffee is being purchased at 58,700 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at the same rate of 58,800 VND/kg (a decrease of 1,200 VND/kg).