Devaluation risk rises in Vietnam
Vietnam’s dong fell toward the brink of its permitted trading range as a ban on interest payments on US dollar deposits held onshore failed to cool speculation the currency is poised for its fourth devaluation in a year.
The State Bank of Vietnam cut the dollar deposit rate cap to zero from 0.25% for individual accounts, effective 18 December, it said in a statement on its website late on 17 December.
