Vietnamese Dong Flat as Inflation Accelerates

The Vietnamese dong was little changed against the US dollar and fell versus the euro today after consumer inflation accelerated this month and the interbank rate of the nation’s central bank increased.

Vietnam’s annual inflation accelerated to 0.6 percent in December, up from 0.34 percent in November, but was nowhere near the central bank’s target of 5 percent. Meanwhile, core inflation actually slowed to 1.69 percent this month from a 1.72 percent the month before. The Three Month Interbank Rate rose to 5.25 percent yesterday from 5.18 percent the day before.

USD/VND was unchanged at 22,522 as of 15:47 GMT today. EUR/VND gained from 24,602 to 24,640 as of 16:15 GMT after falling to the low of 24,560 intraday.

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