Vietnam: Fifth devaluation of the Dong
Description
On 17 August 2010, the State Bank of Vietnam has devalued the national currency, the Dong, for the fifth time since 2008. Applicable from 18 August 2010, the official exchange rate between the US Dollar and the Dong has been reduced by 2.1 percent to D18'932 per US Dollar.
Clarifying the motivation for the move, the State Bank of Vietnam exlpained that the intervention shall help to curb the trade deficit.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: Yes
Date of inception: 18 Aug 2010
GTA Evaluation: Red
Source:
State Bank of Vienam. (17 August 2010). SBV adjusts VND/USD interbank exchange rate. Available at http://www.sbv.gov.vn/wps/portal/!ut/p/c5/jc7LDoIwEAXQb_ELZqCFlmWlPLUgLwU2hERjND5YGKJ-vWhMXInOLE_uzIUahj21_W7bXnbnU3uAEmqzQUkt5hoU4zy0MYhJ5LizREPHGLwyG9sTPmVzRC9MBvfCjNOphojsn_THZWg8PdMVtwgS80d6BSXSJtvzTt0u5fxu9_n-nqDK26uSNipZaVEkF-tlWkyFPHArXg-Z-nl1rPHr65cR-PaRzmOeMoj883EDFdSscXVh6q6vI6dIMKCOlcTekqQage5YFH3npDwQkwc4vKLt/dl3/d3/L0lDU0lKSWdrbUEhIS9JRFJBQUlpQ2dBek15cXchLzRCRWo4bzBGbEdpdC1iWHBBRUEhLzdfRjJBNjJGSDIwODQwMzBJNEU5UU9HVjNENzIvMDNYalY2MjM4MDAxMA!!/?WCM_PORTLET=PC_7_F2A62FH2084030I4E9QOGV3D72_WCM&WCM_GLOBAL_CONTEXT=/wps/wcm/connect/sbv_en/sbv_en/en.sbv.news/sbv.en.news.3/44203a00439f64d2950f95166a901e47
Government Response:
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