The State Bank of Vietnam warned that banks failing to follow government directives to cut lending rates will face sanctions, and 46 commercial banks have reduced deposit rates by 0.5-0.7 percentage points. The central rate was set at 25,627 VND/USD, and the SBV plans to buy USD spot to inject up to about 48,800 billion dong through FX swap operations.
The DXY fell 0.33% to 101.53.
Liquidity injections and lower lending rates support domestic credit for Vietnamese feed producers and livestock farms. A stable dong also limits the cost volatility of imported feed inputs.
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