Bloomberg News

Vietnam’s Dong Declines as Central Bank Weakens Reference Rate

October 27, 2011

Oct. 27 (Bloomberg) -- Vietnam’s dong declined after the central bank set its daily reference rate at the weakest level since at least 2005. Government bonds were steady.

The State Bank of Vietnam fixed the reference at 20,788 per dollar, compared with 20,768 yesterday, according to its website. The dong is allowed to trade up to 1 percent on either side of the rate. The currency fell 0.1 percent to 20,989 as of 3 p.m. in Hanoi, according to prices from banks compiled by Bloomberg.

The yield on the benchmark five-year notes was unchanged at 12.45 percent, according to a daily fixing price from banks and compiled by Bloomberg. Three-year bonds were at 12.38 percent.

The State Treasury will auction 1 trillion dong ($47.6 million) each of three- and five-year notes today, according to the Hanoi Stock Exchange’s website.

--Editors: Simon Harvey

%VND

To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net.


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