Strong US Dollar Slashes Vietnam's Shrimp Export Revenues While Raising Raw Material Costs
SEAFOODNEWS.COM [Tuoit Tre News] May 21, 2015
The rise in value of the U.S. dollar against the Vietnamese dong, which took effect earlier this month, has made some Vietnamese people quite happy, but disappointed many others.
The State Bank of Vietnam, the central bank of the Southeast Asian country, on May 7 allowed the local currency to lose another one percent against the greenback, after devaluing it by one percent in January.
The bank has promised that it will not depreciate the local currency by over two percent against the dollar this year in order to stabilize the macro-economy...
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