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USD prices in Vietnam fell to around VND25,000, the lowest since late March, after the State Bank of Vietnam lowered its central reference rate to VND24,212. Analysts attributed the greenback's weakness to the likely Federal Reserve rate cut at its September meeting.
Free-market quotes dropped by VND90-100 from the previous day.
A weaker dollar against the dong reduces the local cost of imported feed ingredients, while expected Fed easing points to a softer dollar trend. The effect on feed prices is modest and mainly through currency translation.
theinvestor.vnQuang MinhAug 28, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
