VnExpress News The News Gateway of Vietnam
The U.S. dollar has appreciated against the Vietnamese dong for 10 straight days, one of the longest such streaks.
The dong fell by 0.6% to a record 24,511 to the dollar Wednesday, data from Bloomberg shows, after the central bank widened the daily currency trading band from 3% to 5%.
Bloomberg said the Vietnamese currency is set for its longest stretch of losses since June 2008.
The dong has depreciated by around 7.4% this year, according to Vietcombank data.
The State Bank of Vietnam has spent US$23 billion from its reserves defending the currency this year, reducing them to $90 billion, according to an estimate by Malayan Banking Bhd.
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