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The Federal Reserve raised rates by 75 basis points, strengthening the US dollar. The article explains how the State Bank of Vietnam manages the dong as a managed float and widened its trading band from 3% to 5% on October 17.
Dollar strength from US rate hikes raises the cost of imported feed ingredients for Vietnam, and the wider band gives the dong more room to weaken.
vietnam-briefing.comVietnam BriefingNov 4, 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.
