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Deputy Governor Dao Minh Tu said the State Bank of Vietnam will keep the USD/VND rate stable and discourage forex hoarding by people expecting further dong weakness. Deputy Governor Pham Thanh Ha said the central bank is ready to intervene when needed and is keeping the rate within a 3.9% band.
The central bank's stated commitment to intervene limits the chance of a sharp dong sell-off, which keeps imported feed ingredient costs more predictable for buyers. The policy stance points to a stable rather than directional move in the exchange rate.
theinvestor.vnMinh MinhOct 21, 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.
