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The SBV last week widened the dong’s daily trading band to ±5%; it last did so in 2015, to ±3%...
...Vietnam’s healthy trade surplus hid a big BoP shock, and FX reserves now are too low.
The growth outlook for 2023 is worsening; the exchange rate shock is only adding insult to injury.
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bop, exchange rate, fx, fx reserves, growth, trade, trade surplus, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence