Vietnam's dong declines as central bank weakens reference rate

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Vietnam's dong declined Thursday after the central bank set its daily reference rate at the weakest level since at least 2005. Government bonds were steady.

The State Bank of Vietnam fixed the reference at 20,788 per dollar, compared with 20,768 Wednesday, according to its website. The dong is allowed to trade up to 1 percent on either side of the rate. The currency fell 0.1 percent to 20,989 as of 3 p.m. in Hanoi, according to prices from banks compiled by Bloomberg.

The yield on the benchmark five-year notes was unchanged at 12.45 percent, according to a daily fixing price from banks and compiled by Bloomberg. Three-year bonds were at 12.38 percent.

The State Treasury will auction VND1 trillion ($47.6 million) each of three- and five-year notes Thursday, according to the Hanoi Stock Exchange's website.

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