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Vietnam: Devaluation drives up dollar, gold.
Section: Business News - Both US dollar and gold prices continued their steady upward creep on the black market for a sixth consecutive day on Feb. 17, following the State Bank of Vietnam's 9.3 percent devaluation of the dong.
Currency dealers on forex trading streets like Ha Trung and Tran Nhan Tong were trading the dollar at 22,000 VND, up 300 VND over the previous day and 1,000 VND from Feb. 14.
This black market price was 1,000-1,100 VND per dollar higher than rates quoted at commercial banks, which on Feb. 17 hovered at around 20,790-20,890 VND. However, this is an improvement over earlier gaps between the commercial and black market rates. Since November, the …
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