IMF Rumour, I got a little something for you all

[zantac]

Link to help with my bit of Intel

http://www.bbc.co.uk/news/business-11511755

I have a little source connected in some way to the IMF & the real deal behind the meetings over the weekend was inconclusive to say the least, like children fighting over sweets.

Well this pi**ed the IMF of to the extent that you will do as we say, hence the statements filling up the forums today.

Take this for face value.

The IMF was that pi**ed off they have just set the ball rolling on many different currency changes, many different all ready in place policies.

I have been informed that the final closing statement was

“Any Questions”

“No”

“Meeting Adjourned”

[Kimjackie]

Basically GET used to stronger currency rates. Thanks for post

Edited October 11, 2010 by Kimjackie

[cgbrown]

Just one more piece of the puzzle....... soon the picture will show us the RV.

[zantac]

Basically GET used to stronger currency rates. Thanks for post

Sort of but not what was intended?

Think Yen, Dollar, Pound, Euro basket.

Love to share but you know the old shoot my messenger, no more messages.

I have stated it will not happen this year & just for once I may be wrong, sure hope so

[ThePeoplesChamp]

Sort of but not what was intended?

Think Yen, Dollar, Pound, Euro basket.

Love to share but you know the old shoot my messenger, no more messages.

I have stated it will not happen this year & just for once I may be wrong, sure hope so

Me too my friend me too

GOOO RV!!!

[kamm]

Thanks for the post Zantac.Steve

[BTSC2000]

Zantac thanks for the update....do you know if that basket of currency will include the dong?

Link to help with my bit of Intel

http://www.bbc.co.uk/news/business-11511755

I have a little source connected in some way to the IMF & the real deal behind the meetings over the weekend was inconclusive to say the least, like children fighting over sweets.

Well this pi**ed the IMF of to the extent that you will do as we say, hence the statements filling up the forums today.

Take this for face value.

The IMF was that pi**ed off they have just set the ball rolling on many different currency changes, many different all ready in place policies.

I have been informed that the final closing statement was

“Any Questions”

“No”

“Meeting Adjourned”

[zantac]

Zantac thanks for the update....do you know if that basket of currency will include the dong?

I hope so as I too have a big DONG!!

Investment

[outerspaceboy]

Zantac you sure know how to cure my heartburn!

Go RV!

[SoldierOfIndependence]

I hope so as I too have a big DONG!!

Investment

....posted in the rumor section.....HAHHA!! J/K, J/K

[kingfish]

....posted in the rumor section.....HAHHA!! J/K, J/K

Ok That was pretty good

LOL

Lets hope that rises too!!!

[PAPATOM]

Link to help with my bit of Intel

http://www.bbc.co.uk/news/business-11511755

I have a little source connected in some way to the IMF & the real deal behind the meetings over the weekend was inconclusive to say the least, like children fighting over sweets.

Well this pi**ed the IMF of to the extent that you will do as we say, hence the statements filling up the forums today.

Take this for face value.

The IMF was that pi**ed off they have just set the ball rolling on many different currency changes, many different all ready in place policies.

I have been informed that the final closing statement was

“Any Questions”

“No”

“Meeting Adjourned”

Glad I bought some dONG! it's a basket economy....and if they are going to start adjusting basket currencies....the DONG just might be one of them!

[Traconesu02]

Thanks for the post zantac

[DaveH]

I hope so as I too have a big DONG!!

Investment

Too funny! LOL

Good stuff zantac, thanks..

[strollen]

Vietnam May Devalue Dong Twice in 2011, Credit Agricole SaysPosted: October 12, 2010 by Justhopin in Asian Currency Markets, Iraqi Dinar/Politics

Tags: Vietnam, Dong, asian currency markets 0October 11, 2010

VietFinanceNews.com – Vietnam’s dong is about 2 percent cheaper to buy in the black market than the rate banks pay and devaluations are likely in 2011 to bring the official exchange rate into line, according to Credit Agricole CIB.

The dong was trading at between 19,820 and 19,880 per dollar at money changers in Ho Chi Minh City this morning, according to a telephone information service run by state-owned Vietnam Posts & Telecommunications. The rate in the interbank market was 19,485 as of 9:35 a.m. in Hanoi. The Vietnamese central bank permits the currency to trade up to 3 percent on either side of its reference rate, currently set at 18,932.

Dollar liquidity has dried up because of the disparity between the official rate and market rate, forcing importers that need foreign exchange to buy euros instead, according to an Oct. 11 research note written by Dariusz Kowalczyk, a Hong Kong- based senior economist and strategist at Credit Agricole.

“The foreign-exchange market in Vietnam is distorted by all the regulations and by all the methods that companies are forced to use to circumvent them,” Kowalczyk said in a phone interview yesterday. “But the big picture point to make is that relatively soon after the last devaluation, the implied exchange rate is already 2 percent weaker than the official rate.”

Devaluations Coming

The last devaluation of 2 percent on Aug. 18 was “not large enough to balance the market,” Kowalczyk wrote in the note. The dong will probably be devalued by another 2 percent in February and by a further 3 percent in the northern hemisphere’s summer or autumn of 2011, bringing the official exchange rate to 20,500 per dollar, he wrote.

Vietnam’s inflation accelerated in September to 8.9 percent, the fastest in four months. The trade deficit widened to $1.05 billion in September from $395 million the previous month, according to preliminary General Statistics Office figures.

The currency’s weakness is being driven by Vietnam’s “large and persistent” trade deficit and by inflation, wrote Kowalczyk. The trade shortfall is putting “pressure on Vietnam’s balance of payments, requiring further devaluation in order to at least partially restore exports’ competitiveness,” he wrote. (Bloomberg)

Not a good sign for us dong holders......

[lechesuerte]

Thanks zantac for the post. I also hope you are wrong about your no 2010 rv prediction. GO RV in 2010!!!

[powerpager]

Jump on out there IMF !!!

[Guest Ratatap]

Thanks Zantac - we are sending the RV this weekend vibe up there to the gods...........

GO RV !!!!!!!!!