Vietnam Central Bank Reiterates Dollar Sale Plan to Support Dong

Vietnam’s monetary authority reiterated its plan to keep selling dollars to some banks as a way of intervening in the foreign exchange market to support the local currency, which has fallen to a record low.

The State Bank of Vietnam said it will manage the exchange rate flexibly and in accordance with market developments through monetary policy tools, and with the sale of dollars, according to a statement on the regulator’s website.