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The State Bank of Vietnam has sold about $2.8 billion of foreign currency since April 19 to curb dong weakness, according to Maybank Securities. The brokerage expects the central bank may raise policy rates by 50 basis points in the coming weeks.
Central bank intervention and possible rate hikes aim to stabilize the dong, which affects the local cost of imported feed ingredients and Vietnamese feed demand.
theinvestor.vnQuang MinhMay 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.
