Credit Suisse Sees ‘Challenges’ in Vietnam on Dong

Vietnam’s currency devaluation points to continued “challenges” and it’s too soon to turn positive on the world’s worst-performing stock market this month, Credit Suisse Group AG said.

The central bank this week lowered the reference rate for the dong by 2 percent, the third devaluation since November. Currency reform is “badly needed,” Credit Suisse analysts Dan Fineman and Siriporn Sothikul wrote in a report.