(Bloomberg) -- Vietnam will engineer a decline in
the dong of as much as 1 percent this year to support exports,
Deputy Prime Minister Nguyen Sinh Hung said, confounding
forecasts by global banks for a stronger currency.
State Bank of Vietnam intervention has led to a
depreciation of about 1 percent in each of the past three years,
even as foreign investment drove faster economic growth. The
currency has dropped 0.4 percent this year, while the Indian
rupee gained 8.6 percent, the Philippine peso climbed 6.2
percent and the Thai baht rose 2.5 percent.
Read more at Bloomberg Currencies News
the dong of as much as 1 percent this year to support exports,
Deputy Prime Minister Nguyen Sinh Hung said, confounding
forecasts by global banks for a stronger currency.
State Bank of Vietnam intervention has led to a
depreciation of about 1 percent in each of the past three years,
even as foreign investment drove faster economic growth. The
currency has dropped 0.4 percent this year, while the Indian
rupee gained 8.6 percent, the Philippine peso climbed 6.2
percent and the Thai baht rose 2.5 percent.
Read more at Bloomberg Currencies News
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