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Forex

Vietnam central bank's next move depends on yuan

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A client counts Vietnamese dong banknotes at a bank in Vinh Yen city, Vietnam, August 19, 2015.   © Reuters

HO CHI MINH CITY -- The State Bank of Vietnam on Wednesday widened the band in which the country's currency, the dong, floats against the dollar and lowered the reference exchange rate.

     This in effect pushed down the value of the dong to nearly 22,400 against the dollar, its weakest since 1994. The central bank's move followed another devaluation only a week earlier, as Vietnamese policymakers keep an anxious eye on movements in the Chinese yuan.

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