Japanese Yen Soars; Domestic Coffee Falls Deeply

USD exchange rate today dropped sharply

USD exchange rateToday, November 18, 2023, down 40 dong in both buying and selling directions. World USD depreciated sharply to only 103.8 points.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,120 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank Exchange from 23,400 to 25,120 VND/USD.

Specifically, Vietcombank has a buying price of 24,045 and a selling price of 24,415, down 40 VND compared to the closing price 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, skyrocketed. Surveyed on the morning of November 18, 2023 at banks, specifically as follows: At Vietcombank,Vietcombank Japanese Yen exchange rate has buying rate of 156.55 VND/JPY and selling rate of 165.71 VND/JPY, up 0.57 VND in buying and up 0.6 VND in selling.

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

At BIDV Bank, the Japanese Yen exchange rate increased by 0.72 VND in buying and increased by 0.74 VND in selling, 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 - increasing by 0.45 VND for buying and 0.48 VND for selling.

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

At Techcombank, the Japanese Yen exchange rate increased by 0.57 VND in buying and increased by 0.54 VND in selling with prices of 154.36 VND/JPY and 165.32 VND/JPY, respectively.

At Sacombank, the Japanese Yen exchange rate increased by 1.21 VND in buying and increased by 1.25 VND in selling, corresponding to 159.26 VND/JPY and 165.85 VND/JPY.

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 an increase of 0.43 VND for selling).

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

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

World oil prices rise from 4-month low

In the world market,gasoline pricesToday, November 18, tends to go up following the increase from the previous session.

On November 17, world oil prices reversed and increased after falling nearly 5% to a four-month low in the session on November 16.

According to data from Oilprice, at 8:29 p.m. on November 17 (Vietnam time), Brent oil price was trading at 78.48 USD/barrel, up 1.06 USD, equivalent to 1.37% compared to the previous session. Meanwhile, WTI oil price was at 73.78 USD/barrel, up 0.88 USD, equivalent to 1.21% compared to the previous session.

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

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

Oil prices falling to a four-month low could put pressure on the Organization of the 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 drop sharply

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

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on November 18, 2023 was at a fairly good price of VND 58,500/kg (down VND 1,200/kg); In Dak Nong province, coffee was purchased at the corresponding price of VND 58,500/kg (down VND 1,300/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 58,100 VND/kg (down 1,100 VND/kg).

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