Weak Dong Forces Vietnam Central Bank To Devalue Currency (Again)

Weak Dong Forces Vietnam Central Bank To Devalue Currency (Again) (ZeroHedge, May 6, 2015):

Having put off the decision to devalue the Vietnamese currency in March, the Dong has pressured the weaker limit (1% trading band) of the reference rate ever since. This has led to Vietnam’s central bank devaluing the dong reference rate to 21,673 (from 21,458) for the 2nd time this year. This is the softest the dong has ever been relative to king dollar, pushing them deeper into the currency wars.

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