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The State Bank of Vietnam sold US dollars to some banks to intervene in the currency market after the dong fell to a record low of 25,463 per dollar. The central bank said the intervention was possible and then confirmed it had acted.
A weaker dong raises the local cost of imported feed ingredients and freight priced in dollars, which can pressure Vietnamese feed makers' margins. The intervention may limit near-term moves but does not change the broader dollar-strength trend.
bloomberg.comNguyen Xuan QuynhApr 19, 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.
