USD/VND exchange rage sharply decreases

The USD/VND exchange rate is now at its lowest since Dec 10th last year. The State Bank of Vietnam on Friday reduced the reference exchange rate of USD and VND by 5 dongs per dollar to 22,154 VND/USD. Meanwhile, commercial banks also decreased their USD prices to the range between 22,530 and 22,610 dongs per dollar. The reason for the decline since the beginning of this year is due to the fluctuations of USD prices in the world market as investors showed their doubts for the future of the US economy. In addition, the Federal Reserve's monetary policy in December has also affected the USD.