# Central bank lowers dollar rate to keep exchange rate steady

> 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.

- Date: 2018-07-04 · published 2018-07-04T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/64337-central-bank-lowers-dollar-rate-to-keep-exchange-rate-steady
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

Active intervention to slow dong depreciation supports currency stability for Vietnamese importers of dollar-priced feed ingredients.

## Read by commodity

- USDVND: neutral

## Sources

- vietnamnews.vn: https://vietnamnews.vn/economy/451100/central-bank-lowers-dollar-rate-to-keep-exchange-rate-steady.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.