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Gold falls, dollar rates up
Viet Nam gold prices on May 21 dropped by VND850,000 per tael from the peak value of VND37.5 million (US$1,785) per tael on May 20.
At the end of the morning session, one tael of the state-owned SJC gold was listed at VND36.65 million ($1,745) at the Saigon Jewellery Company. Meanwhile, at the global gold trading floor, Kitco.com, gold price was listed at $1,295 per ounce or $1,560.4 per tael, an increase of $1 per tael from the day before.
Thus, on May 21, each tael of gold in Viet Nam was $185 higher than in the world market, which was the highest rate from October 2013 in the local market.
On the same day, most of the commercial banks raised the US dollar exchange rate while the State Bank of Viet Nam kept its exchange rate of VND21,036 for $1, unchanged in the last 11 months.
Each dollar value was added between VND10 and VND30 for both buying and selling.
Vietcombank rated US$1 at VND21,120 and VND21,180 for buying and selling, respectively. Similarly, the prices of Asia Commercial Bank, Bank for Investment and Development, Eximbank and VietinBank were VND21,100/VND21,180; VND21,120/VND21,180; VND21,110/VND21,180; and VND21,130/VND21,180 for buying and selling, respectively.
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