Photo: NLD

Business Briefing

Gold rate

The domestic gold price today was listed by DOJI Group at VND 68.7 million/tael (buying) and VND 69.5 million/tael (selling). Compared to the previous session, the gold price at DOJI increased by VND 50,000/tael for buying and decreased by VND 100,000/tael for selling.

Meanwhile, Saigon SJC listed the buying price at VND 68.7 million/tael and the selling price at VND 69.6 million/tael, a decrease by VND 100,000/tael in both transactions.

Reference exchange rate

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at VND 23,065/USD on June 10, up VND 3 from the previous day. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is VND 23,756/USD and the floor rate is VND22,373 /USD.

The opening-hour rates at commercial banks saw slight fluctuations. At 8:30 am, Vietcombank listed the buying rate at VND 22,990/USD, and the selling rate at VND 23,330/USD, both down VND 30 from the rates at the end of June 9. Meanwhile, BIDV cut both rates by VND 35 and VND 5, respectively, listing the buying rate at 23,015 VND/USD and the selling rate at VND 23,295/USD.

Photo: VNA

Finance news: Vietnam jumps nine places in Open Budget Survey 2021

Vietnam was placed 68th out of the 120 countries in the Open Budget Survey (OBS) 2021 recently released by the International Budget Partnership (IBP), up to nine spots against 2019 and 23 against 2017, the Ministry of Finance announced on June 9. The country gained six points in all the three components – Transparency, Public Participation, and Budget Oversight – compared to 2019. It scored 44 out of the maximum of 100 in Transparency and 80 in Budget Oversight last year. Its score in Public Participation reached 17, higher than the global average of 14.

According to the ministry, the OBS2021 results show Vietnam’s efforts in improving budget transparency over the years. The country has been striving to adopt good international practices as it has released 3-year national financial and budget plans and made citizens' budget reports more comprehensible to the public. The country has also provided its citizens with easier access to financial and budget information to grab their attention better and encourage public participation in building and monitoring budget plans.

The OBS is the world’s independent, comparative, and fact-based research instrument that uses internationally accepted criteria to assess public access to central government budget information; formal opportunities for the public to participate in the national budget process; and the role of budget oversight institutions, such as legislatures and national audit offices, in the budget process. The survey helps local civil society assess and confer with their government on the reporting and use of public funds. This 8th edition of the OBS covers 120 countries. Vietnam has participated in the biannual survey for four consecutive times, in 2015, 2017, 2019, and 2021.

Photo: VNA

Weather Forecast

June 11-12: In the next 24 to 48 hours, the North will be affected by a low-pressure trough, resulting in strong winds and higher humidity. The northern mountainous provinces will experience heavy rain. In the Central region, there will be showers and thunderstorms in the afternoon and night, meanwhile harsh sunshine will remain in the morning and afternoon.

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