Gold ring price increases sharply, free USD approaches 26,000 VND mark

Giá vàng nhẫn chỉ còn thấp hơn giá vàng miếng 1,43 triệu đồng/lượng - Ảnh: PHƯƠNG QUYÊN — The price of gold rings is only 1.43 million VND/tael lower than the price of gold bars - Photo: PHUONG QUYEN

The price of gold rings is 4.11 million VND/tael higher than the converted world gold price.

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 71.44 million VND/tael.

At the end of today, June 24, SJC Company listed the selling price of 9999 gold rings at 75.55 million VND/tael, an increase of 200,000 VND/tael compared to last weekend. The buying price is 73.95 million VND/tael.

Meanwhile, the selling price of SJC gold bars remains unchanged at 76.98 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 5.54 million VND/tael higher, while the price of 9999 gold rings is 4.11 million VND/tael higher.

In recent days, the USD price on the free market has been continuously increasing. Currently, the selling price of USD on the free market is at 25,945 VND/USD, and the buying price is 25,865 VND/USD.

In general, over the past 10 days, the USD price on the free market has increased by about 100 VND/USD.

Today, the State Bank announced the central exchange rate at 24,262 VND, an increase of 7 VND compared to the end of last week.

With a margin of 5%, banks are allowed to buy and sell USD in the price range of 23,049 - 25,475 VND/USD.

Bank USD price still at ceiling

Banks also increased the selling price of USD to the ceiling or close to the allowed ceiling.

At Vietcombank , the USD/VND exchange rate is listed at 25,225 - 25,475 VND/USD (buy - sell). At Eximbank, the USD selling price is at 25,474 VND/USD, buying price is 25,210 - 25,240 VND/USD.

In its latest economic update report on Vietnam, Standard Chartered Bank forecasts that Vietnam's second-quarter GDP growth will reach 5.3% year-on-year.

Mr. Tim Leelahaphan, Vietnam and Thailand economist, Standard Chartered Bank, said that although growth in the second quarter is likely to slow down, the recovery momentum is still very positive.

The economy is likely to remain challenging in the third quarter amid price pressures, exchange rates and weak global demand.

Standard Chartered also forecasts that the State Bank may increase refinancing rates in the fourth quarter amid rising inflation.

"The exchange rate factor may push the State Bank to raise interest rates in the fourth quarter or sooner. Actions from the US Federal Reserve (Fed) will be a key factor influencing the State Bank's policy decisions," said Mr. Tim Leelahaphan.