State Bank of Vietnam devalues dong as dollar rises
The exchange rate was last changed in June
The State Bank of Vietnam devalued the dong for the second time in seven months today, a move that may help make the country's exports as the dollar strengthens.
The central bank weakened its reference rate by 1% to 21,458 dong a dollar, effective today, from the previous 21,246 dong. Exchange rates for commercial banks are allowed to move within a 1% band around this rate.
The State Bank of Vietnam says the adjustment was made with "the aim of proactively regulating the market in accordance
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com