TITLE

No Change In Dong Policy

PUB. DATE
May 2004
SOURCE
Asia Monitor: South East Asia Monitor Volume 1;May2004, Vol. 15 Issue 5, p4
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
Central bankers and independent economists across Vietnam are said to be reconsidering their policy views on their own exchange rate, the Vietnamese dong, as they watch the Chinese come under increased pressure from the U.S. to revalue the yuan. The dong currently trades against the U.S. dollar in a band that allows it a daily fall or rise of 0.25% from the closing rate of the previous day. Through a series of devaluations controlled by the central bank, the dong lost about 25% of its value against the greenback during the Asian financial crisis of 1997-98.
ACCESSION #
12933374

 

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