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Dollar rates dip again, gold prices increase
Greenback prices fell again in the local market on October 16 while gold prices went up on the same day.
By Friday, most banks sold a dollar at around VND22,350 and VND237 each while the ceiling price of the State Bank was VND22,547 per dollar. Compared to the rates in most of the commercial banks on Tuesday, they were reduced to between 120 to 140 dong each.
In particular, Vietcombank listed the buying and selling rates at VND22,270 and VND22,350. The Techcombank, BIDV and Eximbank set the buying rates between VND22,180 and VND22,260, and the selling rates of each dollar was between VND22,360 and VND22, 380.
Also, the rates fell in the flea market. Quoc Trinh Gold and Jewellery Company in Ha Trung Street, which was popular for currency exchange in Ha Noi, bought each dollar for VND22,320 and sold each for VND22,360.
Since last week, the greenback reportedly lost after the central bank of Viet Nam cut interest rates on dollar deposits and issued a new circular on transacting foreign currencies.
Gold prices, on the other hand, went up VND120,000 ($5.3) per tael in the local market. On October 16, SJC sold a tael, or 37.5gm, of gold for VND34.12 million ($1,527). On the global gold trading website Kitco.com, the price for one ounce of gold was $1,177 ($1,418 per tael).
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