# Central bank sells US dollar forward for first time since 2018

> 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.

- Date: 2022-04-29 · published 2022-04-29T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/42114-central-bank-sells-us-dollar-forward-for-first-time-since-2018
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

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.

## Read by commodity

- USDVND: bearish ▼

## Sources

- vietnamnews.vn: https://vietnamnews.vn/economy/1176714/central-bank-sells-us-dollar-forward-for-first-time-since-2018.html

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