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Fitch Solutions forecasts the Vietnamese dong will average VND23,475 per US dollar in 2020 and VND23,650 in 2021, from about VND23,309 currently. Weaker FDI inflows during the Covid-19 pandemic and a likely central bank preference for a weaker dong to support exports are cited as drivers.
A weaker dong makes Vietnamese feed and livestock imports costlier in local terms, while supporting Vietnam's export competitiveness; the effect on grain and meal prices is marginal.
vietnamnews.vnMay 5, 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.
