Vietnam dong extends loss against dollar, down 0.16% to 24,570

The Vietnamese dong continued to fall for the 12th session, losing 0.16% against the dollar early on Friday.

At 02:35 GMT, the dong traded at 24,570 against the dollar, compared with Thursday’s close of 24,530.

So far this year, the dong has fallen 7.6%, following the U.S. Federal Reserve’s recent rate hike to tame inflation.

Vietnam’s benchmark index.VNI was down 0.87% to 1,049, due to poor liquidity.

The central bank on Oct. 17 widened the exchange rate trading band to 5.0% from 3.0%, following a sharp fall in the dong currency resulting from fluctuations in the global market.

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Vietnam dong extends loss against dollar, down 0.16% to 24,570

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