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The US dollar reached an all-time high on Vietnam's free market, at VND25,540-25,670 per dollar, while bank rates rose slightly. Demand for forex is driven by rising gold prices, a strong import recovery and illegal gold imports.
A stronger dollar against the dong increases the landed cost of imported feed ingredients for Vietnamese buyers, a currency-driven pressure with little direct effect on global commodity prices.
theinvestor.vnMinh AnhMar 5, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
