After declining by VND1.3 million per tael the previous day, the price of gold in Vietnam continued to drop by VND1-1.4 million per tael to VND63.5 million per tael on September 28, following the losing momentum of the global gold price.
The VND/USD reference exchange rate, on September 20, was increased by VND6 per US dollar by the State Bank of Vietnam compared to the previous day, to be listed at VND23,301 per US dollar. The US dollar price at commercial banks also climbed by VND15-VND30 per US dollar.
The price of gold in Vietnam, on February 22, approached nearly VND64 million per tael (1.2 ounces) as the global gold price surpassed the mark of US$1,910 an ounce due to escalating tensions between Russia and Ukraine.
The Vietnam stock market in the first trading session of the week on January 24 was quite negative when investors dumped stocks heavily. Foreign investors also net sold about VND220 billion on the HoSE.
Four State-owned commercial banks continue to commit to sparing a support package of VND4 trillion to cut interest rates and all banking service fees for customers in localities implementing social distancing under Directive No.16/CT-TTg of the Prime Minister.
The Vietnam Gold Trading Association (VGTA) informed that it would petition the Government and the National Assembly to set up a national gold trading floor, which could be first trialed in Hanoi and Ho Chi Minh City.