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The State Bank of Vietnam set the official dong/dollar rate down VND17 to VND23,138 per dollar last week, following an October decline of VND16. The dollar fell sharply internationally as investors bet on another Fed cut, and the US Dollar Index dropped to about 97, its lowest since mid-July.
A firmer dong and weaker dollar lower the local-currency cost of imported feed ingredients for Vietnam, though the effect on global grain and oilseed prices is modest.
vietnaminsiders.comDung DuongNov 15, 2019Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
