The exchange rate hike was intended to support exports and economic growth.
According to experts, the adjustment was aimed at narrowing the trade deficit and improving the balance of payments.
The SBV adjusted the exchange rate as the dong strengthened against currencies in other emerging economies in Asia, which is not good for an economy trying to boost growth and enhance competition. The SBV reaffirmed its determination not to increase the exchange rate by more than 2 percent in 2015.
