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Weaker dong leads to costly imported goods
Prices of imported goods have risen in Ho Chi Minh City since the central bank reduced the value of Vietnamese dong by 3 percent at the end of last month.
Computer shops said with the dong – weakening to around 18,400 to the US dollar, computer components, mainboards, rams, LCDs and laptops had seen a drastic and rapid increase in their prices.
Cooking gas distributors said retail prices have been adjusted three times last month, with the total increase working out to 35,000 VND per cylinder.
Nguyen Phuc Dai, general director of the Dai Viet Energy Joint Stock Company (Vinagas), blamed the rise on the increase in global gas prices by 130 USD a tonne and the weakening of the dong against the greenback.
An employee at an automobile showroom in Tran Hung Dao Street, District 1, said a vehicle costing around 65,000 USD now would have risen by 50 million VND (2,800 USD) since early last month.
However, not all imported goods have become more expensive. Importers and distributors of foodstuff and beverages have not raised prices.
Nguyen Phuong Thao, director of Maximark Cong Hoa supermarket, said she had yet to receive notice about higher prices from suppliers of the products for her department store.
But she admitted the trend would not continue for long if the dollar continues to strengthen.
Pham Ngoc Chau, deputy general director of Hanco Food Co said the stronger dollar has affected the cost of raw materials for his company, admitting it is under pressure because of keeping prices unchanged.
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