US dollar supply, gold price increase

The exchange rate between the US dollar and Vietnamese dong was listed at VND22,868 at the end of January, an increase of VND40 per dollar from a level of VND22,828 at the beginning of January.

US dollar supply, gold price increase

At commercial banks, dollars were bought at VND23,160 and sold at VND23,250 at the end of January, up VND5 per dollar from buying price of VND23,155 and selling price of VND23,245 at the beginning of January.
On free market, the US dollar exchange rate was pretty stable in the first half of January but it rose to VND23,190-VND23,220 at the end of January.
According to the price management department, US dollar supply increased, mainly thanks to overseas Vietnamese who go back to Vietnam for Tet holidays and foreign tourists. Generally, the exchange rate was steady.
In the first week of January, the price of gold was bought at VND36.38 million per tael and sold at VND36.82 million per tael. In following days, gold fluctuated continuously but maintained moving horizontally after climbing in the first days of January.
At the end of January, gold was at around VND36.82 million – VND37.04 million per tael. Domestic gold price advanced due to rising momentum on global gold market and increasing demand prior Tet holidays.

By Ha My – Translated by Thuy Doan

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