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Fitch Solutions expects the State Bank of Vietnam to keep intervening to support a stronger dong. It cut its 2020 average forecast to VND23,250/USD from VND23,475.
The dong has appreciated 1.1% against the dollar and averaged VND23,290/USD year to date.
A firmer dong makes Vietnamese feed and manufacturing imports cheaper in local currency but can weigh on export-oriented manufacturing. Covid-related FDI weakness limits the currency's support.
en.vietstock.vnHanoi TimesJul 16, 2020
vietnaminsiders.comSophie DaoJul 16, 2020Not 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.
