Another Big Currency Devaluation for Vietnam

Vietnam’s central bank has just devalued its currency for the third time in a year, this time by 8.5% to 20,693 dong for a dollar, up from 18,932.

The move reflects Vietnam’s current ecnomic struggle and increasing concerns about the large and growing trade deficit ($13.3 billion last year) as well as inflation that rose above 12% last month.

Over the past few years, American currency has been at a premium on the black market, and the devaluation will bring the official exchange rate more in line with the unofficial price of the dollar on the street. 

More on Vietnam’s devalued dong


One response to “Another Big Currency Devaluation for Vietnam

  1. Pingback: Tweets that mention Another Big Currency Devaluation for Vietnam | Vietnam Economics – Vietnomics --

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