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The State Bank of Vietnam widened the dong's daily trading band to 5% on either side of the fixing rate from 3%, effective October 17. The dong dropped as much as 0.8% to a record low of 24,310 per dollar.
The move effectively devalues the dong, making dollar-priced feed ingredients more expensive for Vietnamese compounders and tightening margins for livestock and poultry producers.
bloomberg.comNguyen Dieu Tu UyenOct 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.
