PM says no need to devalue dong
VNBusinessNews – There is no need to devalue the Vietnamese dong (VND) currency because there are enough dollars in the banking system and it would have an adverse impact on foreign debt, a newspaper quoted Primed Minister Nguyen Tan Dung as saying.
“If the domestic currency is devalued, making the exchange rate which now stands at a little over 17,000 dong per dollar rise to 18,000 per dollar it will be hard to predict how much Vietnam’s current foreign debt of $18 billion will be, and how that will affect the budget balance,” the Saigon Times quoted Dung as saying. ($1 = 16,980 dong) (Reuters)
