US adds Vietnam to currency manipulation watchlist

Unusually, Vietnamese banks’ dollar prices have been higher than the free market as they face a dearth of greenbacks.

The Vietnamese dong continued to fall against the U.S. dollar, going beyond its lowest level ever recorded on April 24. 

The Vietnamese dong has fallen to its lowest level ever against the U.S. dollar, and banks are fixing their exchange rates accordingly.

The U.S. recent interest hike might result in a high demand for U.S. dollars in Vietnam, weakening the local currency further, experts say.

The official exchange rate between Vietnamese dong and U.S. dollar reached its highest this year Wednesday, and  experts said the dong could depreciate further.

Exchange rate fluctuations and high taxes are the main concerns of Vietnam’s most profitable businesses, a recent report has found.

If US-China trade tensions drag on, Vietnam will still see good growth but face strong exchange rate pressures exerted by two major currencies.

Vietnam’s recent exchange rate fluctuation will not carry into the last quarter thanks to strong government reserves, experts say.

Vietnam is considering increasing power prices next year due to rising costs, a senior official said.

The recent increase in U.S. interest rate will generate pressure on the Vietnamese dong and make inflation target hard to meet, experts warn.

Vietnam's finance minister said the nation should be more flexible in handling its exchange rate.

The U.S. dollar strengthened against the Vietnamese dong on Tuesday as the central bank upped its reference rate.

The dong has fallen against the U.S. dollar with the exchange rate hitting the lowest in years, but the central bank said the rate is “under control.”