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The World Bank urged Vietnam to allow more exchange rate flexibility, including a faster pace of depreciation of the reference rate, as the Federal Reserve is expected to keep raising rates. It also suggested using direct foreign currency sales carefully to protect reserves.
The dong had depreciated 9.1% against the dollar in the year to November 3.
A weaker dong raises the local cost of dollar-priced feed and fuel imports for Vietnamese buyers. Continued dollar strength keeps import costs elevated.
theinvestor.vnTri DucNov 17, 2022Not 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.
