# Central bank withdrew VND93 trillion to stabilise the gold and forex markets

> The State Bank of Vietnam withdrew more than VND93 trillion from the market by selling gold and US dollars over the past month. It sold over $3.5 billion in dollars between April 22 and May 24 to stabilize the currency and gold markets.

- Date: 2024-05-29 · published 2024-05-29T12:00:00.000Z
- Category: policy · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/30579-central-bank-withdrew-vnd93-trillion-to-stabilise-the-gold-and-forex-markets
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

Heavy dollar sales support the dong and limit import cost inflation for feed buyers, though the intervention drains liquidity from the banking system.

## Read by commodity

- USDVND: neutral

## Sources

- vietnamnet.vn: https://vietnamnet.vn/en/central-bank-withdrew-vnd93-trillion-to-stabilise-the-gold-and-forex-markets-2285626.html

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