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The State Bank of Vietnam set its dong reference rate at VND23,004 per dollar on April 23, the weakest level on record, and lowered it to VND23,013 the next day. Commercial banks adjusted their quoted rates accordingly, and the dong is down VND179, or 0.78 percent, so far in 2019.
A weaker dong raises the local-currency cost of imported feed inputs such as corn, soymeal and additives for Vietnamese buyers. The move is small so far, and the effect on feed prices is limited.
e.vnexpress.netDat NguyenApr 24, 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.
