Vietnam Will Weaken Dong as Much as 1% a Year, Deputy Prime Minister Says

(Bloomberg) -- Vietnam will extend its policy of
weakening the dong by as much as 1 percent a year to boost the
country's exports, Deputy Prime Minister Nguyen Sinh Hung said.

The State Bank of Vietnam, the country's central bank, has
engineered about 1 percent depreciation against the dollar in
each of the last three years to promote overseas shipments and
economic growth. Central bank selling of the dong may counter
demand for the currency from overseas investors buying shares in
the nation's companies.


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