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Dong?

mydinars11

By mydinars11,
in Foreign Currencies

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rope Newbie

rope

Posted
Posted

Thanks Luigi for starting this thread. I have gotten alot of good information from all the posters.

I don't usually post much but I couldn't resist posting on this thread.

I have a large amount of Dong also and plan to continue increasing what I have on hand as time goes by. Its nice to have another source at a better price.

I have been wondering if anyone knows if Adam will start a DongVets site.

I am really concerned that if he has a Verified Dong owner badge like he does with the Dinar.

Are we going to have to send in a picture of our Dong?blink.gif

Sorry I couldn't resist

I actually had to go back and read just exactly what the "topic" was suppose to be.......got a little side tracked........ohmy.gifsad.gifbiggrin.gif

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rope Newbie

rope

Posted
Posted

Does anyone have information regarding which dong denomination is better to have on hand...100,000.00 vs. 50,000.00? Circulated vs. uncirculated? Or does it matter?? Any insight would be great appreciated!

Ah......Insight? Ah.....that's probably not gonna happen at this point........maybe try again laterblink.gif

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mqchau Newbie

mqchau

Posted
Posted

Does anyone have information regarding which dong denomination is better to have on hand...100,000.00 vs. 50,000.00? Circulated vs. uncirculated? Or does it matter?? Any insight would be great appreciated!

Don't forget about the 250,000 Dong bills

If I were to invest in this I would only pick up the 250k and 100k notes...the rest is garbage to me imo.

Goodluck with this one fellas.

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RICK C Newbie

RICK C

Posted
Posted

From the Currency newshound webpage-

State Bank of Vietnam plans to increase dong to dollar valuePosted: August 15, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Asian Currency Markets

Tags: dollarization, exchange rate, Foreign exchange reserves, International Monetary Fund, Monetary policy, State Bank of Vietnam, Vietnam, Vietnamese đồng

Vietnam's bank notes

VietFinanceNews.com – The State Bank of Vietnam plans to increase the value of the Vietnamese dong against the US dollar over the next four months in a bid to protect the value of the domestic currency, State Bank Governor Nguyen Van Binh told Sai Gon Economic Times this week.

“Since February, the real value of Vietnamese dong has risen slightly,” Binh said.

“If necessary, the central bank will consider further adjustment of the exchange rate,” he added. “The primary target of foreign exchange policy is to stabilise the dong and keep it under control, not to fix it. Confidence in the domestic currency has been fading and we must immediately restore that confidence, which is vital to economic stability.”

Binh advised the public that holding onto the dong was the best policy to keep people from flocking to invest in gold and to reduce dollarisation of the economy.

Strategies to protect the dong would include deposit interest rate reform that created predictable interest rates at levels of around 14 percent for dong deposits and 2 percent for US dollar deposits, he said.

Recent dollar speculation on the foreign exchange black market was a move to take advantage of soaring global gold prices, he added.

“In fact, the demand for dollars to pay for imports is not high, and even petrol importers are not demonstrating a high demand for dollars,” Binh said. “The nation’s foreign reserves are sufficient to offset any imbalance in the supply of and demand for dollars.”

The central bank bought up over US$4 billion in the first seven months of the year. At the Consultative Group Meeting in June, the International Monetary Fund estimated that Vietnam’s foreign reserves totalled US$13.5 billion, equivalent to 1.5 months of imports. On August 14, banks quoted buy/sell rates of VND20,814/VND20,824 per dollar, while the greenback traded for under VND21,000 on the black market.

On August 9, as domestic gold prices soared to an all-time record of VND46 million (US$2,203) per tael, the dollar was traded at VND21,300 on the black market and around VND20,810 at banks.

http://bit.ly/nhDy9D

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Money Pit Newbie

Money Pit

Posted
Posted

I have 25 Million VD. I plan to by 5 Million a month. Vietnam will become another Japan in 10 years. Vietnam just purchased another 19 tons of gold to back up it's currency...over 26 tons last year. The Dong is for real.

http://english.vietnamnet.vn/en/business/9404/vietnam-is-world-s-2nd-largest-gold-hoarder.html

I have traveled to Vietnam for the past 10 years, and there is growth , but its slow and I mean slow, Vietnam is about 30 years behind the rest of the world, too many people with an underdeveloped infrastructure, I mean we bombed the crap out of those little rice patties. Go take a trip over there and you'll see what Im talking about, once you get off the plane in Saigon and flag down your taxi, you think you landed on the set of of the hit series of MASH ! another Japan in 10 years, please, you'll be holding onto the Dong RV for LOOOOOOOOOOOOOOOOOONG time my friend.

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Caye98 Enthusiast

Caye98

Posted
Posted

Here's a few tips...go to dongtalk.com for updates. Order VD through Wells Fargo Forex, 1.800.678.4653. Only $48 per million VD. That's half of what the online traders charge. The transaction takes about a week & will automatically be deducted from your debit card if you have an account. You can have it delivered to your home or your branch bank. Easy, no hastles.

Thanks for the info! biggrin.gif

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  • 2 weeks later...
jaman Enthusiast

jaman

Posted
Posted

Ijust called the 800# that you posted and did reach Wells Fargo Forex of course it was after hours but the recording directed me to www.foriegnexchangeservices.com but when I went to the web site and tried ordering the VD it wasn't listed. I was wondering if they still sold it and if you could only order it over the phone? I'll try by phone as well again tomorrow.

here a bank that sells DONG..Associated bank 1-800-236-7160

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boondock Newbie

boondock

Posted
Posted

I have 25 Million VD. I plan to by 5 Million a month. Vietnam will become another Japan in 10 years. Vietnam just purchased another 19 tons of gold to back up it's currency...over 26 tons last year. The Dong is for real.

http://english.vietnamnet.vn/en/business/9404/vietnam-is-world-s-2nd-largest-gold-hoarder.html

where does one purchase vnd currency...say in Texas
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cheerful1 Newbie

cheerful1

Posted
Posted

where does one purchase vnd currency...say in Texas

I get mine at the same place I buy dinar, 1st Convenience Bank. It is usually located inside a Kroger or WalMart store. If you don't have an account with them it costs an extra $10 and if you purchase less than $300 usd worth it is an extra $10.

I just bought another 4 mil for 245.40 Hope this helps.

Always trying to be the

Cheerful1 B)

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