Vietnamese Dong Slips to Record Low, Tumbles in Black Market
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Vietnam’s dong slid to a record low against the U.S. dollar after the central bank last week devalued the currency by the most since at least 1993.
The dong dropped to 20,900 per dollar as of the close at 4 p.m. in Hanoi, compared with 20,875 at the end of last week, according to data compiled by Bloomberg. The State Bank of Vietnam fixed the daily reference rate for today’s trading 0.1 percent weaker at 20,713, according to its website. The currency is allowed to trade up to 1 percent on either side of the rate.