Vietnam dong trade band to remain, c.bank says -paper - News

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CNBC ON DIGG

Vietnam dong trade band to remain, c.bank says -paper

By: AFX | 10 Nov 2009 | 09:33 PM ET

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HANOI, Nov 11 (Reuters) - The central bank's trading band for dollar/dong transactions will remain as is, a newspaper on Wednesday quoted State Bank of Vietnam Governor Nguyen Van Giau as saying in response to rumours the band would be widened soon. The dong weakened beyond 19,000 per dollar on the unofficial market, on Tuesday. It continued its slide on Wednesday, with a dealer in Hanoi quoting the rate at 19,100/19,200 per dollar at about 0140 GMT. The English-language Vietnam News said the band widening rumour had helped to weaken the dong. Traders have said the spread between the price of gold onshore and abroad had created a surge in demand for dollars. "The daily trading band remains," the newspaper quoted Giau as saying on Tuesday. "The central bank continues to pursue a stable and flexible exchange rate policy." (Reporting by John Ruwitch; Editing by Neil Fullick) ((john.ruwitch@thomsonreuters.com; +84 4 3825 9623; Reuters Messaging: john.ruwitch.reuters.com@reuters.net)) Keywords: VIETNAM FOREX/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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