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The State Bank of Vietnam said it will increase its foreign currency market interventions and stand ready to inject more funds. The official said the USD/VND rate, up about 2% since the end of 2021, is appropriate given market conditions.
The US Dollar Index has risen roughly 10% year to date after Fed rate hikes.
Central bank support limits near-term dong depreciation, which keeps Vietnamese feed import costs more predictable despite strong global dollar pressure.
en.vietnamplus.vnVietnam+ (VietnamPlusJun 21, 2022Not enough comparable past events yet for a historical read.
After 15 past bullish policy events, US Dollar (Broad) moved a median +0.2% over 5 sessions (53% higher; middle half -0.4% to +0.4%), and +1.0% over 20.
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.
