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The State Bank of Vietnam made its first forward dollar sales of 2018, on November 23 and 26, with a January 31 maturity at 23,462 dong per dollar. The central bank is using the tool to guide the market ahead of a possible US Fed rate hike in December.
Forward sales are a central-bank tool to cap dollar strength and steady the dong, which limits how much import costs for feed ingredients can rise. The effect on grain prices is small.
vietnamnews.vnNov 26, 2018Not 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.
