# Asian FX in cautious mood, Vietnam’s dong falls on effective devaluation - Markets - Business Recorder

> 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.

- Date: 2022-10-17 · published 2022-10-17T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/39454-asian-fx-in-cautious-mood-vietnam-s-dong-falls-on-effective-devaluation-markets
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

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.

## Read by commodity

- USDVND: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40203535

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.