Vietnamese Dong Stable After Central Bank Intervenes

The Vietnamese dong was stable today after the central bank said that it had intervened to support the currency that was continuously falling.
The dong was falling as domestic importers were buying dollars. The State Bank of Vietnam said that it intervened “with reasonable volume” to slow the fall and will continue to watch the exchange rate in order to “flexibly manage money supply channels to control cash flow”. The Vietnamese central banks joined other Asian banks that were attempting to support their currencies, which suffered from risk aversion on the Forex market.
USD/VND traded at 20,975 as of 11:00 GMT today.

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