Vietnam Dong in ‘Extreme Trouble,’ Morgan Stanley Says
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Vietnam’s dong is in “extreme trouble” and is at risk of depreciation, Morgan Stanley said, two days after the International Monetary Fund warned the nation’s reserves were at a “low” level.
A deteriorating balance of payments, a weak economy and trade deficit are “exerting significant downward force” on the dong, Stewart Newnham, Asian currency strategist at Morgan Stanley, told a conference in Ho Chi Minh City.