# Vietnam Central Bank Intervenes to Stabilize Dong Amid Exchange Rate Surge - VnEconomy

> The State Bank of Vietnam began selling US dollars at 25,450 per dollar to banks with negative foreign currency positions to curb rapid depreciation. The central bank cited foreign exchange reserves of about $100 billion as backing for the move.

- Date: 2024-04-19 · published 2024-04-19T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/31062-vietnam-central-bank-intervenes-to-stabilize-dong-amid-exchange-rate-surge
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

The intervention relieves short-term dollar demand but is unlikely to reverse the dong's trend while the dollar remains strong. Feed importers may still face higher local costs for imported inputs.

## Read by commodity

- USDVND: bullish ▲

## Sources

- en.vneconomy.vn: https://en.vneconomy.vn/vietnam-central-bank-intervenes-to-stabilize-dong-amid-exchange-rate-surge.htm

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