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Vietnam dong rate at 16-mth high on central bank move (11/03)
06/08/2010 - 28 Lượt xem
The State Bank of Vietnam widened the band to +/-1 percent from +/-0.75 percent. The measure, announced on Friday, took effect on Monday.
It is one in a series of moves aimed at tackling double-digit inflation [ID:nSP190741]. The central bank had expanded the trading band to +/- 0.75 percent on Dec. 24 from +/-0.5 percent.
Based on the new band, the upper limit on Monday for the dong would be 15,865 per dollar on the interbank markets.
The official exchange rate was last higher on Oct. 13, 2006 when it reached VN16,021 per dollar.
Source: Reuters
