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The State Bank of Vietnam widened the dong's daily trading band from 3% to 5% effective October 17, saying the move was made to cope with international market developments and US Federal Reserve tightening. The change allows the dong to fall further against a strong dollar.
The wider band effectively devalues the dong, raising the local cost of dollar-priced feed imports into Vietnam and pressuring feed buyers' margins.
centralbanking.comCentral Banking NewsdeskOct 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.
