The Vietnamese dong rallied today as central bank Deputy Governor Nguyen Dong Tien said that an interest rate cut is unlikely to happen this year amid the ongoing banking reform.
Tien said yesterday:
The pressure on inflation still remains and there are still some factors that will cause inflation to quicken toward the end of the year. A further rate cut by the central bank is difficult. Thereâs a small chance.
Such words boosted the currency that was moving largely sideways.
USD/VND fell from 20,920 to 20,845 as of 12:37 GMT today.
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