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The Vietnamese dong's USD/VND rate rebounded slightly after more than two weeks of cooling, following State Bank of Vietnam intervention and guidance. The article notes that interbank rates dipped in September before ticking up, and that the Fed cut rates by 25 basis points.
Markets expect further cuts, which have nearly eliminated the VND-USD rate differential.
A narrower rate differential and continued SBV management leave the dong exposed to upward pressure on USD/VND, which raises the local cost of dollar-priced feed imports for Vietnamese buyers.
en.vcci.com.vnAug 22, 2019Not 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.
