Vietnam's currency dong trades against USD at lowest rate in 2 years

The currency is 0.17 per cent weaker at Eximbank and 0.21 per cent weaker at Sacombank, both private lenders.

The changes followed the State Bank of Vietnam, which has been pumping more US dollars into the market to reduce pressure on the exchange rate, letting the dong slide by 0.04 per cent against the greenback to VND 23,121, the lowest this year, media in the country reported.

The central bank has sold over $10 billion to the market this year, or around 10 per cent of the country’s foreign exchange reserves, to stabilise the market, according to an estimate by RongViet Securities.

Fibre2Fashion News Desk (DS)