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The dong has weakened against the US dollar in recent weeks, a move that surprised investors and analysts. The State Bank of Vietnam's daily reference rate rose from 22,415 at end-2017 to 22,605 on May 29, about 0.8%, its highest since January 2016.
Persistent dong weakness increases the cost of dollar-denominated feed ingredient imports for Vietnamese compounders, though the total move remains small. Buyers should expect a gradual rather than abrupt effect on landed feed costs.
bizhub.vietnamnews.vnvietnamnews.vnMay 31, 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.
