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Calyon expects further depreciation in Vietnam dong
November 26, 2009
The State Bank of Vietnam devalued the currency 5.4% to curb a widening trade deficit and present a more rapid decline in foreign exchange reserves. However, there are fears it could fuel further inflation pressures.
The Vietnamese dong looks set to depreciate further after the country’s central bank devalued the currency by 5.4% yesterday (November 25), according to Calyon.
The surprise move was designed to curb a widening trade deficit. It was also...
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