# Foreign currency market stabilised following central bank’s intervention

> 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.

- Date: 2020-03-26 · published 2020-03-26T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/54398-foreign-currency-market-stabilised-following-central-bank-s-intervention
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

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.

## Read by commodity

- USDVND: bearish ▼

## Sources

- en.vietnamplus.vn: https://en.vietnamplus.vn/foreign-currency-market-stabilised-following-central-banks-intervention-post170718.vnp
- vietnamnews.vn: https://vietnamnews.vn/economy/654137/foreign-currency-market-eases-following-central-bank-s-intervention.html

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