VOV.VN - Gold prices in Vietnam surged sharply on October 21, reaching a historic high of VND154.6 million per tael, up VND3.1 million from the morning session.

The USD/VND exchange rate is not forecast to be under great pressure at the end of this year, if the US Federal Reserve (Fed) continues to cut interest rates at its meeting this month, experts said.

Platinum, in association with the New York Mercantile Exchange (NYMEX), has experienced a remarkable acceleration as it emerged as the most actively traded product in Vietnam in third quarter of this year, statistics from the Vietnam Commodity Exchange (MXV) showed.

Inflationary pressure may increase between now and the year’s end due to impacts of multiple factors, requiring the Government to take proactive and flexible actions, some experts have said.

The price of SJC gold bars rose to nearly VND81 million (US$3,266) per tael (one tael is equivalent to 1.33 ounces) in the last trading session of the first quarter (March 30), up 8% from the outset of the quarter.

Vietnam still has effective tools to proactively control the VND/USD exchange rate in 2024 even if the US Federal Reserve (Fed) has to maintain its interest rates at the current high level for an extended time due to the conflict in the Red Sea and other new uncertainties, experts said.

Vietnam’s economy has made good recovery since the beginning of this year; however, inflation risks could weight on the country’s growth outlook, according to experts.

Inactive cash showed signs of shifting to securities as banks continue to reduce deposit interest rates to below 8% per year, expanding the liquidity of the stock market.

VOV.VN - The retail prices of petrol increased sharply by VND1,220 to VND1,300 per litre as of 3 p.m. on July 21, following the latest changes made by the Ministry of Industry and Trade and the Ministry of Finance.

The period of strong volatility of the US dollar has ended, and the US$/VND exchange rate in the last six months of 2023 will remain stable, experts have forecast.