Vietnamese Dong (VND) outlook dec 19 2011

Vietnamese Dong (VND) outlook dec 19 2011 ; The State Bank of Vietnam lowered its reference rate to 20,813 from 20,803 yesterday, according to its website. It was the first time since Oct. 28 that the central bank changed the daily rate. The currency is allowed to fluctuate by as much as 1 percent on either side of that rate.

The dong fell 0.1 percent to 21,025 per dollar as of 4:30 p.m. in Hanoi, according to prices from banks compiled by Bloomberg.

People in the market expect the average level of interest rates to drop early next year, so they probably priced that to their bond yields,” said Nguyen Thi Ngoc Anh, the Ho Chi Minh City-based head of fixed-income trading at Asia Commercial Bank For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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