Around 5-7 tons of gold jewellery, valued at some US$ 300 million, was exported over the last week, according to a number of gold businesses in Ho Chi Minh City.

The companies said that, at this point, gold prices in Vietnam are lower than in the world market, which has led to a sharp hike in gold jewellery exports.

The exporting of gold jewellery has also brought in a good deal of foreign currencies and in part healed the domestic foreign exchange market, which was short of strong foreign currencies in the beginning of the year, experts said.

The exchange rate between the Vietnam Dong and US dollar has stood at a record low over the past 3 months and accordingly, the value of the Vietnam Dong is increasing.

According to commercial banks, the number of US dollar buyers has now fallen, in contrast to 2 months ago.

Source: LD

Translated by Thu Nguyen