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The State Bank of Vietnam sold dollars on July 4, 2018 at 1% below the prior day's rate and cut its daily reference rate by VND5 to VND22,630. The move followed a significant dollar rise against the dong, which the central bank linked to the US Fed rate hike and the escalating US-China trade war.
Active intervention to slow dong depreciation supports currency stability for Vietnamese importers of dollar-priced feed ingredients.
vietnamnews.vnJul 4, 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.
