Vietnam devalues currency

Vietnam devalued its currency today by 8.5% as the Communist-ruled country fights double-digit inflation and a widening trade deficit.

Fri, 11 Feb, 2011 - 07:36

Vietnam devalued its currency today by 8.5% as the Communist-ruled country fights double-digit inflation and a widening trade deficit.

The State Bank of Vietnam said in a statement on its website that the US dollar will buy 20,693 Vietnamese dong compared with the previous rate of 18,932 dong per dollar.

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