Dollar continues rising against dong

26-Nov-2016 Intellasia | The Saigon Times | 6:00 AM Print This Post

The US dollar hit a new record high against the dong on November 23 morning while gold fell slightly on the local market, the news site VnExpress reports.

The State Bank of Vietnam on November 23 announced the reference exchange rate between the two currencies at VND22,118 to the dollar.

Vietcombank and Techcombank bought one dollar at VND22,590 and sold it at VND22,690 on November 23 morning, up VND85 and VND95 from the previous day. Meanwhile, VietinBank’s dollar buying and selling prices were VND22,600 and VND22,700.

At the end of the day, the dollar prices remained unchanged at Viecombank, while Techcombank revised down its buying price to VND22,550 per dollar and VietinBank hiked its selling price to VND22,710 per dollar.

The dollar rise against the dong is in tandem with global market movements following Donald Trump’s surprise victory in the US presidential election.

Meanwhile, the gold price eased on November 23. DOJI Gold and Gems Group bought a tael of gold at VND35.74 million and sold it at VND35.84 million in early trade, falling some VND20,000 against the close a day earlier. The prices dipped to VND35.7 million and VND35.8 million a tael as of 4:08 p.m. on November 23.

Gold opened at $1,213.7 an ounce in Asian trade on November 23. The yellow metal plunged to $1,205 an ounce on Tuesday before climbing to $1,210 an ounce on the US market.

Gold is unlikely to surpass $1,220 an ounce as US stocks and bond coupons have been on the rise.

According to local gold traders, the gold price has barely fluctuated lately due to pressure from the strengthening dollar. Gold trade has been sluggish on the home market.


Category: Finance, Vietnam

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