Vietnam on Wednesday degraded its cash by 1% taking after the cheapening of the Chinese yuan and a conceivable US premium rate increment.
The national bank-set reference rate debilitated to 21,890 dong to the US dollar and the exchanging band at which the dong could be exchanged above or beneath was extended to 3% from 2%, the State Bank of Vietnam said in an announcement.
The move comes after the People's Bank of China emphatically downgraded the yuan a week ago and Vietnam's national bank multiplied its exchanging band accordingly.
It said the most recent move goes for guaranteeing steadiness for the dong and intensity of Vietnamese items.
The national bank-set reference rate debilitated to 21,890 dong to the US dollar and the exchanging band at which the dong could be exchanged above or beneath was extended to 3% from 2%, the State Bank of Vietnam said in an announcement.
The move comes after the People's Bank of China emphatically downgraded the yuan a week ago and Vietnam's national bank multiplied its exchanging band accordingly.
It said the most recent move goes for guaranteeing steadiness for the dong and intensity of Vietnamese items.
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