Vietnam hikes rates, devalues dong
The policy tightening leaves the central bank with the highest rate in Asia. At 25.2%, inflation is at its highest level since 1992 and most analysts have welcomed the move.
It also devalued the dong, the value of which is determined by a managed float, by 1.96% from D16,139 to the dollar to D16,461 against the greenback.
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