Vietnam Economic Growth Quickens as Investment Aids Exports; The central bank said today it would weaken its dong-dollar reference rate effective June 28.

A reference rate is a rate that determines pay-offs in a financial contract and that is outside the control of the parties to the contract. 

It is often some form of *LIBOR rate, but it can take many forms, such as a consumer price index, a house price index or an unemployment rate. Parties to the contract choose a reference rate that neither party has power to manipulate.

The most common use