# Foreign exchange rate forecast to be under control in 2024

> Vietnamese experts say the authorities have effective tools to manage the VND/USD rate in 2024 even if the US Federal Reserve holds rates high for longer. The dollar index reached 104.29 on February 16, and the unofficial market dollar rate exceeded VND25,000 for the first time since October 2022.

- Date: 2024-02-20 · published 2024-02-20T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/31997-foreign-exchange-rate-forecast-to-be-under-control-in-2024
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of higher US rates support the dollar and add pressure on the dong, which raises the cost of USD-priced imports for Vietnamese feed buyers. The article gives an outlook rather than a new shock.

## Read by commodity

- DXY: bullish ▲
- USDVND: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-12-28 | [Euro To Dollar Forecast: Rally In EUR USD Exchange Rate Falters And 2017 Looks Bearish](https://feedsoft.ai/events/73670-euro-to-dollar-forecast-rally-in-eur-usd-exchange-rate-falters-and-2017-looks.md) | -0.1% | -1.6% |
| DXY | 2021-10-21 | [Foreign Exchange Rate Forecasts For Next 6-12 Months From Danske Bank](https://feedsoft.ai/events/7485-foreign-exchange-rate-forecasts-for-next-6-12-months-from-danske-bank.md) | +0.1% | +1.4% |
| DXY | 2024-12-23 | [Fed’s foreseen rate cuts affect foreign exchange rate](https://feedsoft.ai/events/27264-fed-s-foreseen-rate-cuts-affect-foreign-exchange-rate.md) | +0.7% | +0.3% |
| DXY | 2023-09-27 | [SBV rolls out measures to reign in raising US-VNĐ exchange rate](https://feedsoft.ai/events/34416-sbv-rolls-out-measures-to-reign-in-raising-us-vn-exchange-rate.md) | +1.1% | +1.1% |
| DXY | 2017-11-03 | [British Pound Tanks Vs Euro, Dollar Exchange Rates After BoE Hike - ING Exchange Rate Forecast](https://feedsoft.ai/events/68239-british-pound-tanks-vs-euro-dollar-exchange-rates-after-boe-hike-ing-exchange.md) | +0.0% | -1.0% |

## Sources

- english.vov.vn: https://english.vov.vn/en/economy/foreign-exchange-rate-forecast-to-be-under-control-in-2024-post1077784.vov

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