Question about the VND

[MyLadiesDaddy]

	Central rate of VND versus USD	Exchange rate
	1 USD =	22,426 VND
	Document No	45/TB-NHNN
	Date of issuing	02/02/2018

 

State Bank of Vietnam

[climber7]

I haven' t been keeping track of rates here

 

Has it moved? Doesn't look like much 

[Karsten]

2 minutes ago, climber7 said:

I haven' t been keeping track of rates here

 

Has it moved? Doesn't look like much 

Only in the minds of the Guru's as per my last post.

 

Karsten

[Karsten]

Just keeping this alive and nothing more....I would be happy as hell with .47 cents for the VND and 3.71 for the IRQ.

 

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We have the rates for all the currencies;  last week they weren’t on the screens, that’s all.  Dong = 47 cents, rupiah = $1.08, Afghani = $2.39, rial = $3.22, dinar = $3.71.  These are the most consistent rates we have seen over the last few months.

 

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Karsten

[jmartin1145]

On ‎2‎/‎3‎/‎2018 at 2:25 PM, climber7 said:

I haven' t been keeping track of rates here

 

Has it moved? Doesn't look like much 

Great question. How much has it moved in the last year or so.

[Karsten]

52 minutes ago, jmartin1145 said:

Great question. How much has it moved in the last year or so.

 Nothing to say the least......

 

I just run across stuff and hope it gives a little hope to the VND like I hope to see something with the IQD.

 

Karsten

[Goggles]

The currency place I bought my IQD from had a habit of sending me a few VND as a thank you note. So I looked into it then. So as I look into in now I find this article interesting. Maybe I should get some now. 

https://treasuryvault.com/articles/the-outlook-for-the-vietnamese-dong-in-2018/

[climber7]

2 hours ago, Goggles said:

The currency place I bought my IQD from had a habit of sending me a few VND as a thank you note. So I looked into it then. So as I look into in now I find this article interesting. Maybe I should get some now. 

https://treasuryvault.com/articles/the-outlook-for-the-vietnamese-dong-in-2018/

 

 

Great find!  I've been wavering on buying more but this may have pushed me over the edge to get some. 

 

Thanks!

[md11fr8dawg]

Thanks Goggles, might buy a bit more myself.

[Gypsygirl11]

Thanks for info Goggles....just dropped 200.00 more after reading this article.

[Goggles]

Vietnam is already with the WTO for about ten years now...

 

https://www.wto.org/english/thewto_e/acc_e/a1_vietnam_e.htm

 

And their government doesn't have issues like Iraq does.  So that would not be a hold up for them to RV. 

[Karsten]

Just a snipit to keep this post interesting........

 

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Dinar = $3.71, dong = 47 cents, rupiah = $1.08, etc., same as before.  [Last autumn you came out with 47 cents for the dong, and you said that was in-country.]   I didn’t say that – I said 47 cents was the rate on the screen.  I have no idea what the rate is in Vietnam.  That 47 cents is or will be the rate here in the United States. That’s the RV rate. 

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I guess all we can do is read and hope something happens

 

Karsten

[blueskyline]

If the dong rose to .47 cents and the rupiah to 1.08 I would laugh all the way to several banks 

[Karsten]

18 minutes ago, blueskyline said:

If the dong rose to .47 cents and the rupiah to 1.08 I would laugh all the way to several banks 

I don't have any Rupiah and don't know what it is........ But would be more than happy with .47 cents......I have seen some nit wits in the past post the VND at $2.00 and no way for me to live long enough to spend that if it happened.

 

Karsten

 

 

[md11fr8dawg]

I'll take $0.47 and be gone ya'll!!! SHOW ME THE MONEY!!

[markb57]

what banks sell dong now?

[Freedomwish]

15 hours ago, markb57 said:

what banks sell dong now?

 

I had bought mine from Chase Bank.....put them away and walked back to my favorite bar for some whiskey drinks while continuing to dream......(sigh!)

[Goggles]

At the rate that Iraq is going with the RV of the dinar, I sometimes wonder if The Vietnamese dong may beat them to the finish line on a RV.  Just trying to be realistic. I think it might be a good idea to grab some more of this. 

[bohica]

Just want this  money to roll.  Get some good out of Vietnam and then let it do to pot.  I just want my money out of those little %^&*.

[Karsten]

9 hours ago, Goggles said:

At the rate that Iraq is going with the RV of the dinar, I sometimes wonder if The Vietnamese dong may beat them to the finish line on a RV.  Just trying to be realistic. I think it might be a good idea to grab some more of this. 

 

I have wondered that same thing myself. One of the guys that got me into the IQD thought it was a good deal but for had far more VND and that was the direction he was going way back when. Now I too have way more VND than I do IQD......Either one move and I will be happy.

 

Karsten

[Pitcher]

I agree Bohica, bad memories of that place

[blueskyline]

http://m.english.vietnamnet.vn/fms/business/199808/vietnamese-economists-concerned-over-bond-issuance-plan.html#ui=mobile..... .. 

concerned over bond issuance plan

Last update: 14:00 | 05/05/2018

VietNamNet Bridge - Issuing international bonds means borrowing foreign capital at high interest rates. If capital cannot be used effectively, this will increase the public debt burden.

 

 

 

 

Bui Quang Tin, a finance expert, said that dong-linked bonds the State Bank is considering issuing are a form of borrowed foreign capital.

The central bank would borrow roughly $100 million from the international market. The amount would be later sold to commercial banks, as businesses cannot buy in large quantities.

Tin believes this would have a big impact on Vietnam’s production and export activities.

Once US dollars are pumped into circulation, Vietnam dong will be withdrawn from circulation. Because of the dollar supply, the dollar price would go down, and the Vietnam dong would appreciate. A strong dong, however, will not facilitate Vietnam’s exports.

Once US dollars are pumped into circulation, Vietnam dong will be withdrawn from circulation. Because of the dollar supply, the dollar price would go down, and the Vietnam dong would appreciate. A strong dong, however, will not facilitate Vietnam’s exports.

Vietnamese exporters repeatedly have urged the government to devalue the local currency to boost exports.

Once international bonds are issued, the bonds will be guaranteed by the national credit rating. If the rating is high, the bond interest rate will be low, and vice versa.

Meanwhile, though Vietnam is listed among the countries with stable macroeconmy, high GDP growth rate and controlled inflation rate, its national credit rating is still low compared with other developing countries in the region and the world.

At present, the Vietnam dong is unconvertible in the world market. When issuing international dong-linked bonds, Vietnam would face certain restrictions in seeking investors.  Besides, it would not be able to set the interest rates as low as it wants.

Bui Ngoc Son from the World Political Economy Institute also warned that it would be difficult to attract new investors because of the low national credit rating, unconvertible dong, the warnings about the high public debt, and ineffective use of loans.

“It is highly possible that those who are interested in Vietnam’s bonds are investors who are doing business in Vietnam. They need more capital to scale up their business and production and they are willing to buy bonds,” he explained.

The issuance of hundreds of millions of dollars worth of bond may not bring the expected results, he said.

Both Son and Tin are concerned about how the borrowed capital would be used.

Noting the big losses incurred by Vinashin, Vinalines and 12 unprofitable projects of the Ministry of Industry and Trade, they said these cases had left a bad reputation which cannot erased. 

In order to succeed in issuing international bonds, Vietnam, first of all, needs to apply necessary solutions to improve the national credit rating which would help reduce the capital cost.

[blueskyline]

Once US dollars are pumped into circulation, Vietnam dong will be withdrawn from circulation. Because of the dollar supply, the dollar price would go down, and the Vietnam dong would appreciate. A strong dong, however, will not facilitate Vietnam’s exports.

[climber7]

thanks Blue

 

So what does everyone take away from this article? 

 

I'm exhausted and not concentrating well--is this good news? 

[blueskyline]

http://www.xinhuanet.com/english/2018-05/28/c_137212092.htm......

Xinhuanet 

 

Vietnam raises reference exchange rate

Source: Xinhua 2018-05-28 13:15:16

[Editor: huaxia]

 

 

HANOI, May 28 (Xinhua) -- Vietnam's central bank on Monday adjusted up its reference exchange rate between Vietnamese dong and U.S. dollar by 7 Vietnamese dong to 22,596 Vietnamese dong per U.S. dollar.

With the current trade band of plus or minus 3 percent, the ceiling exchange rate is 23,273 Vietnamese dong per U.S. dollar, and the floor rate is 21,918 Vietnamese dong per U.S. dollar, said the State Bank of Vietnam.

Meanwhile, listed rates at big commercial banks in Vietnam went up significantly. BIDV raised both rates by 20 Vietnamese dong, buying the greenback at 22,760 Vietnamese dong per U.S. dollar and selling at 22,830 Vietnamese dong per U.S. dollar. Rates at Vietcombank advanced by 10 Vietnamese dong to 22,755 Vietnamese dong per U.S. dollar for buying and 22,825 Vietnamese dong per U.S. dollar for selling.

Last week, the reference exchange rates saw two ups and one down with total magnitude of 10 Vietnamese dong and 11 Vietnamese dong, respectively.

According to Vietnam's National Financial Supervisory Commission, the central exchange rate in late 2017 rose around 1.6 percent against early 2017, while the average rate offered by commercial banks decreased 0.2 percent, and on the free market dropped some 1.5 percent.

[Editor: huaxia