# Đồng strengthens against US dollar in early 2017

> The Vietnamese dong strengthened against the US dollar unexpectedly in the first two weeks of 2017, with commercial bank dollar rates falling about 1% from VND22,790 to VND22,600. The State Bank of Vietnam raised its reference rate by VND275 on January 9 to slow the dong's gains, a rare intervention.

- Date: 2017-01-16 · published 2017-01-16T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/73279-ong-strengthens-against-us-dollar-in-early-2017
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

A stronger dong and central bank intervention signal tighter FX management ahead of Tet, which can affect Vietnam's import costs for feed ingredients priced in dollars. The effect on grain prices is limited.

## Sources

- vietnamnews.vn: https://vietnamnews.vn/economy/349774/dong-strengthens-against-us-dollar-in-early-2017.html

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