Viet Nam dong sets new multi-month low versus US dollar

Monday, May 19, 2008
During early deals on Monday, the Viet Nam dong fell to a new multi-month low of 1.6178 against the US dollar. The pair closed last week's deals at 1.6160.
The Viet Nam central bank announced that it hiked the key interest rate to 12% from 8.75% to fight inflation by strengthening the local currency. The annual inflation has almost surged more than 21% in April, due to higher food and energy prices. (RTTNews)