Firm dong weighs on Vietnam rubber exports

Hanoi

VIETNAM is set to lose out in the competition for Chinese rubber demand as the depreciation of its currency lags those of its rival exporters.

The dong has been devalued three times this year and lost about 3 per cent since the end of June, less than the 5 per cent slide in the Thai baht, 11 per cent loss for the Malaysian ringgit and 5 per cent drop in Indonesia's rupiah. That'll make Vietnam's exports less attractive to Chinese buyers and crimp shipments that have risen 13 per cent this year.