Vietnam doubles currency trading band to spur exports after China devalues yuan

August 12, 2015 5:40 AM

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HANOI, Vietnam – Vietnam doubled the trading band of its currency to allow it to weaken following an unexpected devaluation of the Chinese yuan.

The State Bank of Vietnam said in a statement Wednesday that the dong can now be traded in a band 2 percent above or below the central bank-set reference rate compared with 1 percent before.

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