51. The dong has been constantly trading at the low mark of the trading band all year. 52. The government then significantly widened the trading band of the shekel, reducing its intervention in currency markets. 53. The State Bank of Vietnam earlier this month effectively devalued the dong, by expanding the trading band within which it can fluctuate against the dollar and other currencies. 54. Ukrainian government officials indicated Friday that the government-set trading band for the national currency might be widened or abandoned altogether. 55. Widening the band amounts to a de facto devaluation since in the interbank market, the dong trades at the bottom of the trading band. 56. Yushchenko did not say when exactly the new trading band would be announced, but ruled out letting the hryvna float freely. 57. Although they remain comfortably within their EMS trading bands for the moment, they are both expected to come under severe selling pressure this week. 58. At the beginning of the week the SBV widened the interbank trading band from one to five percent above and below the official exchange rate it sets daily. 59. Dealers said the plunge was triggered by speculation the Indonesian central bank was to abolish the trading band for the rupiah. 60. It was unknown whether the currency would then be fixed, float freely or be restricted to a certain trading band. |