
Vietnamese commercial banks lowered their dollar buy and sell rates by about 110 dong on November 7, bringing the weekly decline to 210 dong per dollar, the largest since the start of the year. In contrast, the dollar strengthened internationally after US payroll growth exceeded expectations and markets increased the probability of a December Federal Reserve rate hike.
The lower local USD/VND rate can reduce Vietnamese importers’ costs for dollar-priced feed inputs, although international dollar strength could offset some of that benefit.
Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.