Japanese Yen exchange rate continues to decline; Domestic coffee stable at high level

Japanese Yen exchange rate continues to decline

Japanese Yen exchange rate surveyed on the morning of September 5, 2023 at banks, specifically as follows:

At Vietcombank , the Vietcombank Japanese Yen exchange rate is 160.55 VND/JPY and the selling rate is 169.96 VND/JPY.

At Vietinbank , the buying rate is 160.23 VND/JPY and the selling rate is 169.93 VND/JPY, down 0.33 VND in both directions.

Yen price today 157202320230904230402.jpeg — The Japanese Yen exchange rate continues to decline.

At BIDV bank, the buying rate reached 160.81 VND/JPY, the selling rate reached 169.36 VND/JPY, down 0.22 and 0.23 VND respectively.

At Agribank, the buying and selling rates are 162.60 VND/JPY and 166.69 VND/JPY, respectively.

At Eximbank, the buying and selling rates pushed the price to 161.57 VND/JPY for buying and 167.42 VND/JPY for selling, respectively. At Techcombank, the buying rate was 158.42 VND/JPY and the selling rate was 170.74 VND/JPY. At Sacombank, the selling rate was 162.53 VND/JPY and the buying rate was 169.11 VND/JPY…

According to the survey, Sacombank is the bank with the highest buying rate of Japanese Yen and Agribank is the bank with the lowest selling rate today.

USD price decreased slightly

Today, September 5, 2023, the USD/VND exchange rate, the black market USD price, and the VCB USD price decreased slightly. Meanwhile, the world USD exchange rate remained at 104 points.

The central USD/VND exchange rate announced by the State Bank is 23,977 VND/USD, down 1 VND compared to the listed rate on August 31.

Currently, the USD exchange rate that commercial banks are allowed to trade is from 23,400 - 25,125 VND/USD. The selling exchange rate is also adjusted by the State Bank of Vietnam to the buying and selling range of 23,400 - 25,125 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of adjustments at banks. Specifically, Vietcombank reduced the buying price by 75 VND to 23,900 VND and the selling price to 24,240 VND. The buying and selling prices of USD are currently in the range of 23,400 - 25,300 VND/USD.

Gold prices continue to remain stable

At the time of survey at 5:30 a.m. on September 5, 2023, the gold price on the trading floors of some companies was as follows:

The price of 9999, SJC, 24K, DOJI, PNJ gold continues to remain stable with world gold, currently recorded at 1,938,740 USD/ounce.

DOJI listed the price of 9999 gold at 67.60 million VND/tael for buying and 68.30 million VND/tael for selling.

The price of 9999 gold, SJC, 24K, DOJI, PNJ continues to remain stable with world gold.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 67.65 - 68.00 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 67.67 - 68.25 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 67.67 - 68.25 million VND/tael (buy - sell).

Early morning of September 5 (Vietnam time), the world gold price continued to increase, currently the spot gold price on Kitco floor is 1947.2 USD/oz, up 6.3 USD/oz compared to the previous trading session. Converting the world gold price according to the foreign exchange rate at Vietcombank: 1 USD = 24,240 VND, the world gold price is equivalent to 56.86 million VND/tael, 11.38 million VND/tael lower than the SJC gold selling price on the morning of September 5, 2023.

Domestic coffee stable high level

Currently, domestic coffee prices remain stable, at a fairly high level, averaging 66,300 VND/kg. Compared to last week, coffee prices in the Central Highlands provinces increased by 800 - 900 VND, fluctuating in the range of 66,000 - 66,600 VND/kg.

Specifically, coffee prices in Gia Lai and Kon Tum provinces stood at 66,000 VND/kg. In Dak Nong province, the highest coffee purchase price was 66,600 VND/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 65,700 VND/kg.

Today's coffee price in Dak Lak province today in Cu M'gar district, coffee price is currently at 66,300 VND/kg. Meanwhile in Ea H'leo district, Buon Ho town, it is purchased at the same price of 66,400 VND/kg.

Meanwhile, in the world market, coffee prices on the New York floor also decreased, Robusta coffee, despite forecasts of supply shortage, still decreased due to concerns about increased risks.

Coffee futures prices, supported by ICE inventory reports, are still low, but new crop sales pressure from the world's leading coffee producer and exporter is not small, according to experts. The US dollar gained 1.33% of its strength last week thanks to US GDP in the second quarter of 2023, which increased by 0.9%, higher than the market expected, and long-term Treasury yields continued to rise to sky-high levels.

It is predicted that coffee prices will continue to fall due to strong selling pressure from Brazil when the Real exchange rate increased slightly by 0.21% to 1 USD = 4.9394 R$, which has prompted Brazilians to sell because the harvest is almost complete and new goods are increasingly abundant.

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