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The State Bank of Vietnam set the USD reference rate at 23,151 VND per USD on March 4, 2022, up 8 dong from the previous day. The article says Russia-Ukraine sanctions, including SWIFT exclusions and a proposed freeze of Russia's reserves, have boosted the dollar's safe-haven status and pushed the USD/VND rate higher.
A stronger dollar against the dong raises the landed cost of imported feed ingredients for Vietnamese buyers, and exporters face hedging costs.
en.vcci.com.vnMar 7, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
