The price of loans in VND has increased dramatically on the interbank markets due to companies seeking dong to buy US dollars. During a conference on August 25th, the State Bank of Vietnam announced that it will not make any further adjustment to the Vietnam Dong/US Dollar exchange rate this year.
The statement was made following the dong’s weakening against the US Dollar, notably on the interbank markets where the dong fell to its bottom of 22,547 VND/USD on August 24.
The depreciation was mainly blamed on psychological factors amid China’s devaluation of the yuan.
