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Fitch Solutions forecasts the Vietnamese dong will average about 1% weaker, at VND23,475/USD, in 2020, against VND23,230/USD in 2019. The forecast cites expected slower foreign direct investment inflows and higher imports.
Fitch also sees a gradual long-term depreciation driven by the dong's overvaluation and higher inflation than the US.
A weaker dong raises the local-currency cost of imported feed inputs for Vietnamese buyers, while a stronger dollar supports USD-priced feed ingredients in local terms.
vietnamnet.vnJan 19, 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.
