Vietnam widens dollar/dong trading band to 3 pct

Reuters

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Vietnam has widened the trading band for interbank dollar/dong transactions to 3 percent from 2 percent, the second move in a week, to protect the country's export position and maintain stability in the foreign exchange market, the central bank said on Wednesday.
The new band, within which dollar/dong transactions can move either side of the mid-point set daily by the central bank, came into effect on Wednesday, the State Bank of Vietnam said in a directive.
Earlier on Wednesday the central bank also let the dong depreciate by 0.99 percent against the dollar by setting the official mid-point rate at 21,890 dong per dollar for interbank transactions.

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