Vietnam Dong Weakens as Dollar Demand Rises for Gold Imports
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The Vietnamese dong weakened on speculation companies bought dollars to import gold after domestic prices for the metal surpassed global prices. Bonds advanced.
The first imports of gold under new government quotas are expected to start arriving tomorrow, Vietnam News reported today, citing importers. Companies were given permission to import up to five metric tons of gold, the nation’s central bank said on Aug. 9 after local prices surged to a record.