Dong falls as central bank sets weaker reference rate

Vietnam’s dong fell after the central bank set a weaker reference rate for Friday’s trading.

The State Bank of Vietnam set a rate of 15,970 a dollar, compared with 15,964 on April 29, according to its website.

The currency is allowed to trade up to 1 percent on either side of that rate.

The currency fell 0.02 percent to 16,125, extending this week’s losses to 0.04 percent, according to data compiled by Bloomberg.

It is set for a third weekly decline, the longest losing streak in more than eight months.

Government bonds on April 29 gained for the first day in nine.

The yield on the five-year note dropped 9 basis points to 10 percent, according to a daily fixing price from banks compiled by Bloomberg.

A basis point is 0.01 percentage point.

Thanhnien

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