Overview

This month has seen a dramatic fall in the value of the Vietnamese Dong relative to other major trading currencies, accelerating its downward trend in recent years.

Aside from the hardship occasioned to ordinary Vietnamese people, clearly this spells bad news for those who wish to convert Dong to another currency for business purposes – for example, for the immediate repatriation or the importation in Vietnam of goods or services. In this situation are there any particular circumstances where Vietnamese law may provide a remedy?

The answer is ‘yes’. For example, a creditor to whom a Dong denominated debt is owed, and which has fallen due and payable, may stand to be compensated. Pinsent Masons reports.