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The State Bank of Vietnam sold US dollars in 3-month forward contracts, the first such operation since 2018, to support foreign exchange liquidity. Analysts at SSI Research attributed the pressure to a trade deficit of up to US$1.6 billion in early April and seasonal profit repatriation by FDI companies.
Central bank intervention to defend the dong signals currency stress in Vietnam, which can raise the local cost of dollar-denominated feed and ingredient imports. The effect on feed commodity prices is modest.
vietnamnews.vnApr 29, 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.
