Vietnam Sets Dong Fix Rate at Record Low Amid Dollar Strength
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Vietnam set its reference rate for the dong at a record low, setting the stage for more weakness in the Southeast Asian nation’s currency as the dollar’s surge pummels emerging markets.
The State Bank of Vietnam set the currency fixing at 24,283 dong per dollar on Thursday, the weakest since at least 2005, according to data compiled by Bloomberg. The dong was little changed at 25,402 per dollar on the day, about 0.3% away from a record low.