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The State Bank of Vietnam net withdrew more than VND20 trillion from the interbank market in the week before February 24 through bill issuance, and also withdrew about VND8.18 trillion through open market operations. The aim is to lift dong interest rates ahead of an expected Fed rate hike.
Tighter dong liquidity supports the currency against the dollar, which lowers the local cost of dollar-priced feed imports. The effect on commodity prices is limited.
vietnamnet.vnVietNamNet NewsFeb 24, 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.
