Coffee Prices Down On Trade Day Wednesday, August 19, 2015, this is caused by the weakening of the exchange rate Colombia and Vietnam, the two largest coffee exporter in the world, continues to lose value against the dollar, the government of Vietnam decided to devalue its currency, the dong. While the weakening of currencies in some Asian countries have dominated the market komoiditi downs this year, while China's surprise policy shift last week with its currency tightly controlled has sparked another round of selling in many emerging market currencies
Overnight, the State Bank of Vietnam raised the benchmark interest rate by 1% to 21 890 dong per dollar, and further widened trading band to 3% higher or lower than the benchmark rate. "After the strong devaluation of the yuan, Vietnam domestic market sentiment is still very concerned about the impact of the US Federal Reserve rate increase.
Arabica coffee prices for December delivery fell by 3.1% in the cap on the level of $ 1.3480 per pound on ICE Futures US Exchange, At the same time in London Stock Liffe robusta coffee prices for September delivery fell 4.3% to $ 1,659 per metric ton, after Vietnam, the world's largest exporter of robusta, decided to devalue its currency, the dong. This is the third time this year that Asian countries weakened their currencies, while the rupiah against the US dollar continued to weaken overnight trading the rupiah closed at Rp 13 845 per US Dollas
Overnight, the State Bank of Vietnam raised the benchmark interest rate by 1% to 21 890 dong per dollar, and further widened trading band to 3% higher or lower than the benchmark rate. "After the strong devaluation of the yuan, Vietnam domestic market sentiment is still very concerned about the impact of the US Federal Reserve rate increase.
Arabica coffee prices for December delivery fell by 3.1% in the cap on the level of $ 1.3480 per pound on ICE Futures US Exchange, At the same time in London Stock Liffe robusta coffee prices for September delivery fell 4.3% to $ 1,659 per metric ton, after Vietnam, the world's largest exporter of robusta, decided to devalue its currency, the dong. This is the third time this year that Asian countries weakened their currencies, while the rupiah against the US dollar continued to weaken overnight trading the rupiah closed at Rp 13 845 per US Dollas
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