# Vietnam sells $2.8 bln forex, may raise policy rates to curb VND slide: broker

> 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.

- Date: 2024-05-28 · published 2024-05-28T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/30575-vietnam-sells-2-8-bln-forex-may-raise-policy-rates-to-curb-vnd-slide-broker
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

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.

## Read by commodity

- USDVND: neutral

## Sources

- theinvestor.vn: https://theinvestor.vn/vietnam-sells-28-bln-forex-may-raise-policy-rates-to-curb-vnd-slide-broker-d10327.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.