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Day: April 30, 2024

The Dong’s Wild Ride: Unpacked

Mark Barnes April 30, 2024

The day that Russia invaded Ukraine, on February 24, 2022, the Vietnamese dong was trading at 22,843 dong to one US dollar–it had barely moved since the start of the year. This was in line with much of the past decade in which the local currency had only depreciated marginally,

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Bank of America expects dong to slide another 1 percent in 2024

the-shiv April 30, 2024

The Bank of America is expecting the Vietnamese dong to slide by another 1 percent by the end of the year, CNBC is reporting. According to the publication, the BofA made the assessment based on “Vietnam’s political instability following the second presidential resignation in two years as well as difficulty

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This forecast from VinaCapital’s chief economist

the-shiv April 30, 2024

Vinacapital has released an ‘Economist’s Note’ detailing challenges facing Vietnam’s gold market and exchange rate. It identifies the two key issues facing the dong as the stronger US dollar and the high local gold price. On the latter, it says this is increasing gold smuggling which is increasing demand for

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Novaland lost VND 462 billion because of the exchange rate?

the-shiv April 30, 2024

Embattled Vietnamese real estate developer, Novaland, has reported a first quarter loss of VND 601 billion or US$23.7 million, VN Express has reported. Of note, earlier this year Novaland reported an after tax profit on its unaudited financials statements of 685 billion or US$27 million, however, after being audited it

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