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Home > Vietnam Can't Keep Currency Up - Devalues Dong 3rd Time This Year, Widened Trading Bands

Vietnam Can't Keep Currency Up - Devalues Dong 3rd Time This Year, Widened Trading Bands

By Tyler Durden
Created 08/18/2015 - 20:49
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 08/18/2015 20:49 -0500



 

Asian currency war contagion is spreading. Tonight's victim is the Dong with Vietnam 'devaluing' the reference rate (for the 3rd time this year) by 1% to 21,890 and also widened the trading bands from 2% to 3% (since the recently widened 2% band was already broken)...

  • *VIETNAM CENTRAL BANK DEVALUES DONG BY 1%
  • *VIETNAM DEVALUES DONG REFERENCE RATE TO 21,890 PER DOLLAR
  • *VIETNAM CENTRAL BANK WIDENS DONG TRADING BAND TO 3% OF RATE

[2]

Chart: Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2015-08-18/vietnam-cant-keep-currency-devalues-dong-3rd-time-year-widened-trading-bands

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[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08/20150818_Dong.jpg