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Bangkok Post
Bangkok Post
Business

Vietnam central bank widens dong trading band, currency hits record low

SBV Vietnam State Bank Hanoi
A client counts Vietnamese dong banknotes at a bank in Vinh Yen city, Vietnam. (Reuters photo)

HANOI: The State Bank of Vietnam (SBV) has effectively devalued the dong currency by widening the exchange rate trading band to 5.0% from 3.0% on Monday, following a sharp fall in the currency resulting from fluctuations in the global market.

The dong fell 0.66% to a record low of 24,270 per dollar on Monday, Refinitiv Eikon data showed. The daily reference rate set by SBV was at 23,586.

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