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The US dollar fell against the Vietnamese dong on March 25 after the State Bank of Vietnam sold dollars at a lower rate to stabilise the local FX market. The SBV cut its selling rate to commercial banks by 258 VND to 23,650 VND per dollar, and most banks followed with cuts of roughly 100 VND.
Central bank intervention to defend the dong eases import costs for Vietnam's feed and grain buyers in the short term, but signals underlying currency stress that can raise the cost of dollar-priced commodities.
en.vietnamplus.vnChu Thị Thúy DungMar 26, 2020
vietnamnews.vnMar 26, 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.
