Economics
Vietnam Devalues Dong for Second Time in 2015 to Aid Exports
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The State Bank of Vietnam devalued the dong for the second time this year in a bid to maintain export competitiveness and accelerate economic growth.
The central bank weakened its reference rate 1 percent to 21,673 dong a dollar, effective Thursday, it said in a statement. The Vietnamese currency is allowed to trade as much as 1 percent either side of the fixing. The dong fell 0.1 percent to 21,673 as of 3:27 p.m. in Hanoi, according to data compiled by Bloomberg.