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The State Bank of Vietnam withdrew VND230 trillion from the banking system while the dong stayed under pressure. The official rate eased to VND24,087 per dollar on October 25 after touching a record of VND24,110 on October 20, and commercial banks were quoting selling prices of VND24,730-24,760.
A weaker dong raises the local-currency cost of dollar-priced feed imports and adds pressure on Vietnamese feed and livestock margins. The central bank's tightening also limits how much it can cut rates to support the economy.
vietnamnet.vnVietNamNet NewsOct 28, 2023Not 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.
