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Vietnam's central bank, the State Bank of Vietnam, intervened in currency markets in weeks after US censure, according to sources. Under January deals it offered local banks an above-market rate of 23,125 dong per dollar, a premium of about 0.5% over spot.
State intervention to support or manage the dong affects Vietnam's import costs for feed ingredients priced in dollars and can shift the currency's direction against the dollar. A weaker dong would raise the local cost of imported feed grains and meal.
reuters.comPhuong NguyenFeb 11, 2021Not 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.
