**USD Buying Rates Increase at Banks**
This morning (May 3), the central exchange rate is listed at 24,241 VND/USD, a decrease of 1 dong compared to the previous session.
With a +/-5% fluctuation range currently in effect, today’s ceiling rate is 25,453 VND/USD and the floor rate is 23,029 VND/USD.
Meanwhile, banks have all significantly increased their USD buying rates, while selling rates remain largely unchanged from the previous survey session.
At Vietcombank, the USD price is listed at 25,143 – 25,453 VND/USD, up 29 dongs on the buy side and down 1 dong on the sell side compared to the previous trading session.
VietinBank is listing USD at 25,210 – 25,453 VND/USD, up 85 dongs on the buy side and down 1 dong on the sell side, while BIDV has increased by 3 dongs on both the buy and sell sides, listing USD at 25,153 – 25,453 VND/USD.
Eximbank is listing USD at 25,190 – 25,453 VND/USD, up 20 dongs on the buy side and unchanged on the sell side.
Techcombank is buying and selling USD at 25,217 – 25,453 VND/USD, up 87 dongs on the buy side and down 1 dong on the sell side, while Sacombank has increased by 50 dongs on the buy side and 3 dongs on the sell side, listing USD at 25,180 – 25,453 VND/USD.
Previously, on May 2, the SBV listed the central exchange rate at 24,242 VND/USD, a decrease of 4 dongs compared to the session before the holiday. The spot buying and spot selling rates remained unchanged at 23,400 VND/USD and 25,450 VND/USD, respectively.
In the interbank market, the exchange rate closed at 25,418 VND/USD, rebounding by 84 dongs compared to the session on April 26. The exchange rate in the free market increased by 125 dongs on the buying side and 140 dongs on the selling side, trading at 25,665 VND/USD and 25,770 VND/USD, respectively.
Globally, the USD continued to decline ahead of the release of important employment data today, May 3.
Currently, the US Dollar Index (DXY), which measures the strength of the greenback against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has fallen by 0.41%, reaching 105.34.
**SJC Gold Bar Price Surpasses 85 Million VND/Tael**
At the opening of trading this morning, the buying and selling prices of SJC gold bars at the Saigon Jewelry Company (SJC) traded at 82.9 – 85.2 million VND/tael, an increase of 400,000 VND/tael on the buy side and 500,000 VND/tael on the sell side compared to the survey prices from the previous session. The difference between the buying and selling prices is 2.3 million VND/tael.
DOJI’s retail buying and selling prices in Hanoi are listed at 82.6 – 84.9 million VND/tael, unchanged on the buy side and up 100,000 VND/tael on the sell side. The difference between the buying and selling prices is 2.3 million VND/tael.
At Bao Tin Minh Chau, the buying and selling prices of gold bars are currently trading at 83.05 – 84.9 million VND/tael, an increase of 400,000 VND/tael on the buy side and 300,000 VND/tael on the sell side. Meanwhile, at PNJ, gold is trading at 82.9 – 85.2 million VND/tael, up 300,000 VND/tael on the buy side and 400,000 VND/tael on the sell side compared to the previous session.
Meanwhile, the price of round gold bars at businesses today has been adjusted down by 250,000 VND to 1.45 million VND per tael, currently hovering around 73 million VND/tael on the buy side and 75 million VND/tael on the sell side.
Kitco Chart
Domestic gold prices have rebounded amid a decline in gold prices on the global market, as investors reassess the prospects for monetary easing in the US this year after the Federal Reserve said that interest rates would remain higher for longer. Investors are also anticipating that upcoming economic data could impact the Fed’s policy path.
Currently, spot gold prices on Kitco are at $2,301.9 per ounce, down $17.1, equivalent to a 0.74% decrease in value compared to the previous closing price. Converted at the exchange rate at Vietcombank, the global gold price is currently trading at 68.2 million VND/tael, lower than the domestic gold price by about 14.7 million VND/tael.
