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The US dollar's free-market price in Vietnam rose above 26,000 VND on June 27, a record high, with buying prices about 700 VND above bank rates. Analysts linked the spike to dollar strength internationally and demand for dollars to import gold via border trade, while official bank rates remained stable.
A weaker dong raises the local-currency cost of imported feed ingredients for Vietnamese buyers, while dollar-priced commodities such as corn and soymeal become more expensive in VND terms.
vietnamnet.vnVietNamNet NewsJun 27, 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.
