Calls to allow greater devaluation of the Vietnamese dong

Dr Huan Huu Nguyen, from the Ho Chi Minh City University of Economics, has told Donah Nhan Vietnam that the VND should be allowed to fluctuate within a greater range and that Vietnam should accept a short-term devaluation. Currently, the dong operates in a trading band of 5 percent either side of a base price set each day by the State Bank of Vietnam. This was 3 percent until it was increased toward the end of last year to accommodate exchange rate pressure.