Vietnamese Dong Drops to Record Low as Asian Currencies Weaken

The Vietnamese dong fell, dropping below a record low it touched in April, as Asian currencies declined following a report the US is preparing for a possible strike on Iran.

The dong fell 0.1% to 26,130 per dollar on Thursday, declining for a fifth time in the past six sessions.

Asian currencies and stocks weakened on Thursday as the risk of the US directly joining the conflict between Iran and Israel weighed on sentiment. For export-reliant Vietnam, the dong is also under pressure as the US plans to impose a 46% tariff on the nation’s goods.

Vietnam is moving ...