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VND chart weirdness

vomer

By vomer,
in Foreign Currencies

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blueskyline Enthusiast

blueskyline

Posted
Posted

Just some news of Vietnams recent pledge on the inflation percentage  . They have been gaining steam economically awhile now .

SBV aims to hold inflation under 4% in 2017

image: http://image.vietnamnews.vn//uploadvnnews/Article/2017/1/16/1550-lamphat90862812PM.jpg

1550-lamphat90862812PM.jpg
Customers shop at Co.op Mart in Cam Ranh, Khánh Hòa Province. The central bank has pledged to control inflation at under 4 per cent. – VNS Photo Đoàn Tùng
Viet Nam News

HCM City – The State Bank of Việt Nam (SBV) will control inflation under 4 per cent and stabilise the macro economy to reach a GDP growth of 6.7 per cent, as well as ensure a safe operation for the banking system, a high ranking official of SBV said.

Speaking with the media in HCM City yesterday, deputy Governor Nguyễn Thị Hồng said that “many unexpected things could happen to the world’s economy, and surely affect the Vietnamese economy.”

The SBV has set a goal to gain a credit increase of 16 per cent for growth of 16 – 18 per cent in total payments, and will try to cut the medium- and long-term interest rates, as well as stabilise the foreign currency exchange rate.

SBV established the goals based on achievements reached in 2016, with inflation at 4.74 per cent, lower than the target set by the National Assembly of 5 per cent. Credit development was 18.4 per cent and foreign currency exchange rate was stable, despite international events such as Brexit and the victory of US President-elect Donald Trump.

“For a long time, we have been able to control inflation lower than the National Assembly’s target. Low inflation has helped industries and ministries manage and control prices in the market,” Hồng added.

She also said that pressure to increase the interest rate had appeared early last year but thanks to flexible solutions in managing credit and interest rates, the floor for interest rates dropped around 0.5 – 1.6 per cent.

“We paid attention to production and other high-risk industries, so they were under tight control,” she said.

In 2016, credit growth for real estate was half of the rate of 2015.

“To stabilize foreign currency exchange rates, the SBV kept a strong policy to have high interest for Vietnamese đồng and low interest for foreign currency. This has mostly eliminated speculation in foreign currency,” she added.

Last year, the SBV bought a reserve of foreign currency but still controlled inflation.

“SBV tightened control with credit institutions and commercial banks to ensure safety of operations and ability to pay. Bad debt remained under 3 per cent, like the figure in 2015,” Hồng said.

“SBV will work with relevant agencies to map out a special law to boost bank restructuring and settle bad debts in 2017,” the deputy Governor added.

Hồng said the new law on supporting banking sector in restructuring and resolving bad debts would mention all legal regulations related to the activity. 

Obstacles in existing legal regulations would also be addressed under the new law to remove hindrances in resolving bad debts.

With a detailed and adequate legal framework, she expected it would be easier for the banking system to implement restructuring.

She also announced that the SBV had approved establishment of  a Communication Department, which would help SBV provide exact information about economic management to the market and public. -- VNS


Read more at http://vietnamnews.vn/economy/349768/sbv-aims-to-hold-inflation-under-4-in-2017.html#rZbrpICyRePiB4FL.99

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Karsten Newbie

Karsten

Posted
Posted (edited)

In the other VND post I posted a tid bit about the 6-8th and something was supposed to happen then today along with this post here i ran across this.

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

We know the rates are on all the screens at the banks. We heard some very good rates on Dinar and Dong. The rates are higher than we thought they would be...quite a bit higher.

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

Maybe something is close or it is just more BS but this is all I have heard about the VND in months.
 
It sure would be nice.
 
Karsten
Edited by Karsten
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tigergorzow Grand Master

tigergorzow

Posted
Posted
35 minutes ago, Karsten said:

In the other VND post I posted a tid bit about the 6-8th and something was supposed to happen then today along with this post here i ran across this.

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

We know the rates are on all the screens at the banks. We heard some very good rates on Dinar and Dong. The rates are higher than we thought they would be...quite a bit higher.

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

Maybe something is close or it is just more BS but this is all I have heard about the VND in months.
 
It sure would be nice.
 
Karsten

Karsten, Thanks...Is this information from external site or the normal Guru's spew.

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Karsten Newbie

Karsten

Posted
Posted
41 minutes ago, tigergorzow said:

Karsten, Thanks...Is this information from external site or the normal Guru's spew.

Tiger.....Sorry to say it is more than like Guru stuff. I forget who post a week is so ago that something should happen to the VND the 6-8 of Feb. The this Chart popped up and today this that I posted above.

Just looking for positive anything about the IQD or VND

Karsten

 

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tigergorzow Grand Master

tigergorzow

Posted
Posted
4 minutes ago, Karsten said:

Tiger.....Sorry to say it is more than like Guru stuff. I forget who post a week is so ago that something should happen to the VND the 6-8 of Feb. The this Chart popped up and today this that I posted above.

Just looking for positive anything about the IQD or VND

Karsten

 

Karsten, Truly appreciate...Keeping Faith Alive...:D

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pokerplayer Grand Master

pokerplayer

Posted
Posted
3 hours ago, Freedomwish said:

I swear that I actually had a dream this might happen the other night - I can't shake off the feeling, but it was just a dream....:cisole:

Yup. :cheesehead:

I would split a gut laughing if this popped before the Dinar or the Riel :)

Have not given much thought to the VND in a looooong time lol

pp

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Karsten Newbie

Karsten

Posted
Posted

This was posted elsewhere (Guru Speak I suppose)

...............................................................................................................

Vietnam competes with and follows China.  If China lowers the value of it’s currency, Vietnam going to lower the value of it’s currency…because it’s a competing labor force.  It’s what those countries have.  If China raises the value of it’s currency, Vietnam’s going to follow.  So what’s on the table for China? 

.........................................................................................................................................................

So after reading a couple post on Trump and everyone playing on a level field currency wise. This has been a big deal to him for a long time....China and Currency Manipulation. 

So say Mnunchin get confirmed and Trump forces China to adjust their Value then Veit Nam would have to follow.......I kinda like thatB)

Then I could get rid of my 20 ft M/H and get into a newer 26 footer with 2 slide outs.

Oh Happy Days if something should happen.

Karsten


 
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pokerplayer Grand Master

pokerplayer

Posted
Posted
1 hour ago, ladyGrace'sDaddy said:

Ever since the genesis of this thread I've been watching that chart everyday and I can say that whatever the VND is doing it is getting more sporadic with each passing day. For me just more evidence that something is going on. 

I have to agree LDG, it's just that I'm not sure what yet ?   :confused:

pp

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