# Vietnam steadfast on keeping exchange rate stable, fighting forex hoarding

> 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.

- Date: 2023-10-21 · published 2023-10-21T12:00:00.000Z
- Category: policy · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/33932-vietnam-steadfast-on-keeping-exchange-rate-stable-fighting-forex-hoarding
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

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.

## Read by commodity

- USDVND: neutral

## Sources

- theinvestor.vn: https://theinvestor.vn/vietnam-steadfast-on-keeping-exchange-rate-stable-fighting-forex-hoarding-d7080.html

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