Vietnam to keep dollar-dong rate moves within two percent in 2015

Vietnam will keep the dollar/dong exchange rate within a 2-percent band in 2015, similar to this year, to ensure stability on the country's foreign exchange market, the central bank governor said on Wednesday. "The target for next year is that we will keep stable the foreign exchange market, with a target of movements of no more than 2 percent," Governor Nguyen Van Binh said in a nation-wide broadcast by state-run Vietnam Television.
The dong has eased 1.3 percent against the dollar this year on the interbank market, where the central bank allows dollar/dong transactions to move in a band of 1 percent around the mid-point set daily. In June, the central bank allowed the dong to depreciate 1 percent against the dollar to support exports, the key driver of the economy. Its previous currency depreciation was in June 2013.