# Vietnamese dong expected to average stronger in 2020: Fitch | Vietstock

> 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.

- Date: 2020-07-16 · published 2020-07-16T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/52412-vietnamese-dong-expected-to-average-stronger-in-2020-fitch-vietstock
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

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.

## Read by commodity

- USDVND: bearish ▼

## Sources

- en.vietstock.vn: https://en.vietstock.vn/2020/07/vietnamese-dong-expected-to-average-stronger-in-2020-fitch-37-409572.htm
- vietnaminsiders.com: https://vietnaminsiders.com/vietnamese-dong-expected-to-average-stronger-in-2020-fitch/

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