# SBV withdraws VND230 trillion, dollar price under pressure

> 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.

- Date: 2023-10-28 · published 2023-10-28T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/33931-sbv-withdraws-vnd230-trillion-dollar-price-under-pressure
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

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.

## Read by commodity

- USDVND: bullish ▲

## Sources

- vietnamnet.vn: https://vietnamnet.vn/en/sbv-withdraws-vnd230-trillion-dollar-price-under-pressure-2207760.html

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