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Question about the VND


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I think I have mentioned this before, but when I was stationed at "Kunsan by the Sea" in 1976-1977, the South Korean Won was about 500 to the USD. I believe today it is about 1200 to the USD. So what happened. I do not know, I am not an expert on these things. S. Korea has had this exchange rate for many years and they have been conducting business worldwide at this rate with no RV. So why should any other country need to RV to conduct International business? Not trying to be a downer, just asking.

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1 hour ago, md11fr8dawg said:

I think I have mentioned this before, but when I was stationed at "Kunsan by the Sea" in 1976-1977, the South Korean Won was about 500 to the USD. I believe today it is about 1200 to the USD. So what happened. I do not know, I am not an expert on these things. S. Korea has had this exchange rate for many years and they have been conducting business worldwide at this rate with no RV. So why should any other country need to RV to conduct International business? Not trying to be a downer, just asking.

 

Good question.  Anyone have an answer?

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It would seem that they don't need to RV. But one thing I do find interesting. In the past 2 years when China Yuan went down on several occasions so did the Dong . Recently the Yuan has strengthened and China has just announced to sell Oil Futures in Yuan, Backed and Convertible in Gold. The ride is getting more interesting. Hang on and let's see how Vietnam reacts and what the Dong does next .........:pirateship:

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Just attempting to keep this alive and garner some interest......

 

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

We also have screen rates being reported to us from various sources:  dinar @ $3.71, and dong @ 47 cents. That’s nothing new, but it is coming from more sources, and that says something.  We are expecting a lot in the next few days.  I think it is time for the chips to start falling. 

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All I have ever heard about the VND have been ,47 cents.

 

Karsten

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1 hour ago, Karsten said:

Just attempting to keep this alive and garner some interest......

 

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

We also have screen rates being reported to us from various sources:  dinar @ $3.71, and dong @ 47 cents. That’s nothing new, but it is coming from more sources, and that says something.  We are expecting a lot in the next few days.  I think it is time for the chips to start falling. 

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

 

All I have ever heard about the VND have been ,47 cents.

 

Karsten

 

 

Hey Karsten,

 

Just wondering who it was that said they were hearing these rates? A guru?  If those rates are facts then we should be cashing in, right? 

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Just now, climber7 said:

 

 

Hey Karsten,

 

Just wondering who it was that said they were hearing these rates? A guru?  If those rates are facts then we should be cashing in, right? 

 

Climber....Ya, Guru stuff but that is all I can find about the VND so I bring it here to keep a little interest in this thread. Years ago the people that got me into the Dinar would touch briefly on the VND and always made the comment about the .47 Cents....he was more heavily invested in the VND than the Dinar. 

 

These days I have about 6 times the VND as I do Dinar....At any rate I would be exchanging a portion of either the Dinar or VND and wait on the rest.

 

Today I also read where the same guru with the above rates now make the statement these are Sell Rates or what the Banks will Sale you  currency for....The Exchange Rates he says will be lower and negotiable.

 

Karsten

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  • 3 weeks later...

Not much to be found about the VND lately other than this.

 

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The wonderfully quiet dong is being reported at 47 cents, or $0.47.  That’s the most consistent rate we’ve seen, but if it went as high as two dollars, I would not be surprised.

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Karsten
<

 

 

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1 hour ago, Karsten said:

Not much to be found about the VND lately other than this.

 

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The wonderfully quiet dong is being reported at 47 cents, or $0.47.  That’s the most consistent rate we’ve seen, but if it went as high as two dollars, I would not be surprised.

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

 

Karsten
<

 

 

 

 

Is this a higher rate than before?  Can we exchange our dong for .47 at this time? 

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Breitling said he did empirical studies of countries for the US Government . The studies he did on Vietnam was .03 to .04 cents . I have seen some gurus post .47  to over $1.00 with no articles to back it up like P.P. says . Some people believe in a Global Currency Reset. Some currencies going up . Some currencies going down  . Other believe its just a few countries having a revalue . We see country after country doing contracts in their own local currencies and not in the dollar . We see China producing Oil Futures sold in Yuan , backed by gold and challenging the US Dollar in oil sales .We see countries like Iran and Venezuela selling oil outside of the dollar . Even Russia .We see talk of the IMF's SDR as a possible world currency . Cryptocurrency .One thing is for sure . There is a Monumental Monetary Shift taking place .We are ALL in the center of it. Even the Gurus . It will be difficult to know what is worth how much until it is over. Country after country are announcing monetary reforms  . Even North Korea . Country after country announcing new currencies . Country after country buying gold like craz.................................

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  • 3 weeks later...

http://vietnamnews.vn/economy/405924/central-bank-policies-expand-foreign-reserves.html#zOkOXuUDByoT5P6d.97..........

Central bank policies expand foreign reserves

Update: October, 23/2017 - 07:00

 

icon_letter.gif

image: http://image.vietnamnews.vn//uploadvnnews/Article/2017/10/19/forex34935619PM.jpg

forex34935619PM.jpg
Appropriate State Bank of Việt Nam (SBV) policies helped it buy a large amount of US dollars. — Photo nld.com.vn
Viet Nam News

HÀ NỘI — Adoption of appropriate policies by the State Bank of Việt Nam (SBV) has helped it buy a large amount of US dollars to increase the nation’s foreign reserves, industry insiders said.

Last week, commercial banks sold a significant amount of dollars to the central bank after the latter used futures trading tools to buy foreign currencies and reduced its buying price for the greenback for three consecutive sessions. Vneconomy.vn reported that the central bank purchased as much as some US$1 billion just in one day at the beginning of last week.

With the futures trading tools, commercial banks can sell the foreign currency to the central bank in the future at the current price, without worrying about prices going down later.

The central bank’s purchase has also created more choice for commercial banks so that they can be more active in balancing foreign currency flow and capital demand.

The buying price for the greenback at the central bank’s head transactions office on October 10 was quoted at VNĐ22,720 per US dollar, down VNĐ5 from the fixed price set in end-June and VNĐ20 below the upper limit of VNĐ23,121.

This is the first time the central bank has made such a move since it initiated a new fixing mechanism for the USD/VNĐ rate in January 2016.

Since the start of this year, the bank has raised the buying price three times-- in January, April and June.

Below ceiling

Meanwhile, the bank continues to keep its selling price of the dollar VNĐ20 below the ceiling, indicating it is ready to intervene in the market and keep the USD/VNĐ steady until the end of this year.

According to experts, it is not a random move. The aforementioned decision on adjustment came after a nine-month trade surplus was fixed. Việt Nam not only offset the cumulative trade deficit since the beginning of the year but returned to remarkable surplus. Foreign investment in Việt Nam had high disbursement rate and foreign currency continued to increase.

In the world market, the US dollar strongly depreciated and prior to that was the Fed’s decision on not to increase interest rates. Meanwhile, with regard to the reference basket on the basis of which Việt Nam is calculating exchange rate, many currencies got stronger, specially the Chinese yuan.

In the banking system, foreign currency status accumulated and was relatively positive in the last three months, partly reflecting the reality that the đồng-US dollar interest rate swap has been in negative status for a long time. Therefore, the central bank decided to create a new operating rhythm, promoting the defreeze of those accumulated resources. — VNS

 

 

 

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On 8/8/2016 at 2:32 PM, Gypsygirl11 said:

Boy, leave it to me to pay way more for something then I should! Like a dummy I bought through a dealer. Anyway, good thread MIT and thanks Blueskyline for the article. I'll have to see if Wells Fargo trades in VND.

yes they sell V N D 

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Latest scoop, Trump and Putin share a brief handshake in Vietnam.......I don't know if that means anything, but they're shaking hands......IN VIETNAM!! :blink::facepalm2::shrug:

 

https://www.yahoo.com/news/trump-not-meet-putin-vietnam-white-house-054812035.html

 

Trump and Putin share brief handshake in Vietnam

04fa4660-8b0f-11e6-8636-cbc0321bcf4b_AFP-logo.jpeg
AFPNovember 10, 2017
 

Danang (Vietnam) (AFP) - Donald Trump and Vladimir Putin briefly shook hands at a gala dinner during an Asia-Pacific summit on Friday after days of frenzied speculation on whether the two would meet.

It is still unclear whether the pair plan to hold substantive talks during their visit to Vietnam following days of mixed messages from the Kremlin and the White House.

Relations between Moscow and Washington have plummeted as a US probe has accused Trump's former campaign aides of secretly meeting Kremlin-connected officials -- a charge Russia denies.

Trump had previously indicated that he hoped to hold talks with his Russian counterpart during his Vietnam visit, to pressure Moscow into supporting his moves to challenge North Korea's nuclear ambitions.

Both leaders are attending the Asia Pacific Economic Cooperation (APEC) forum in the Vietnamese city of Danang.

At a gala dinner on Friday evening they shook hands and posed briefly for a photo with regional leaders dressed in loose-fitting shirts commissioned for the gathering by current APEC hosts Vietnam.

But there had previously been conflicting indications on whether a full face-to-face was on the cards.

Earlier in the day White House Press Secretary Sarah Sanders had ruled out a bilateral meeting, but the Kremlin suggested it would go ahead.

Pressed on the issue later, Russian Foreign Minister Sergei Lavrov swatted away the question.

"Why are you asking me? We are saying that we have heard President Trump's wish to meet President Putin, expressed by President Trump himself."

"I do not know what the rest of his penpushers are saying, I cannot answer that."

Both Moscow and Trump had previously suggested that talks were likely to take place.

On Sunday the Trump administration said "it's expected we'll meet with Putin" to discuss North Korea's nuclear ambitions.

Trump's relationship with Moscow has haunted the first year of his presidency.

His former campaign chairman Paul Manafort and an associate are under house arrest on charges including conspiracy to launder money, linked to the investigation by special counsel Robert Mueller into allegations that the campaign colluded with Russia.

Russia has denied allegations of interfering in the US election last year that brought Trump to power.

The two last met during a G20 summit earlier this year.

 

 

Edited by Freedomwish
Maybe I should have some Sake to drink tonight
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