SBV has opened 47 gold auctions since March, 28.— Photo SBV

HA NOI (Biz Hub) — The State Bank of Viet Nam (SBV) shifted all 26,000 taels - one tonne of gold - to thirteen credit institutions at its 47th auction on Friday.

The bank set a reserve price of VND38.25 million ($1,821) per tael, after the bidding. The winning prices ranged from 38.38-38.45 million ($1,827-1,831) per tael.

In the local market, gold prices fluctuated from early morning on Monday until bidding concluded. Gold from the Saigon Jewellery Company (SJC) was listed at between 38-38.5 million ($1,809-1,833) on its official website after the auction at 2 pm.

On the Kitco.com trading floor, the selling price for gold rose to $1,336 per ounce ($1,610 a tael), causing gold prices in Viet Nam to increase $223 per tael higher than global prices.

The SBV has held 47 gold auctions since March 28, selling more than 1.27 million taels (or nearly 49 tonnes).

In the forex field, the SBV set the exchange rate at VND20,036 per US dollar on Friday, unchanged for four weeks. Meanwhile most of the commercial banks lowered their dollar prices by VND6-20 per dollar for both selling and buying.

Yesterday, the exchange rate fluctuated in most commercial banks, At 3 pm, most of them changed their buying price back to the ceiling price of 21,246 per dollar. Vietcombank offered their customers to buy US dollar at 21,245. — VNS