# Anti-dollarisation efforts face challenges

> The State Bank of Vietnam has kept the dong-dollar rate fairly stable through its anti-dollarisation efforts, but the dollar has strengthened against the dong on both official and unofficial markets since the US election. On February 23 the central bank raised the reference rate to a record 22,231 VND per USD, and some commercial banks widened their selling rates by about 5 VND. Analysts expect US tariff plans and Fed rate hikes to pull more dollar holdings out of Vietnam.

- Date: 2017-02-27 · published 2017-02-27T12:00:00.000Z
- Category: macro · region Vietnam · magnitude medium
- Page: https://feedsoft.ai/events/72780-anti-dollarisation-efforts-face-challenges
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

A stronger dollar against the dong raises the local-currency cost of dollar-priced feed ingredients imported by Vietnamese buyers, and it may reduce dollar inflows that support import capacity.

## Read by commodity

- USDVND: bullish ▲

## Sources

- en.vietnamplus.vn: https://en.vietnamplus.vn/anti-dollarisation-efforts-face-challenges-post107899.vnp

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