Loading…
Most emerging Asian currencies traded cautiously on October 17 as the Vietnamese dong fell to a record low of 24,270 per dollar after the central bank widened its trading band to 5%. Investors were focused on expected Fed hikes of 75 basis points and recession risk.
The effective devaluation of the dong raises Vietnam's dollar-priced feed import costs, while broader regional currency weakness can reduce Asian buyers' purchasing power for grains and meal.
brecorder.comReutersOct 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.
