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DRV1804

By DRV1804,
in RV & Dinar Questions

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DRV1804 Newbie

DRV1804

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Good evening DV friends!! Is it bad that afer this article im starting to have more faith in the VND than the IQD?! Please dont bash...just a little down on the IQD investment right now...and would really love your guys thoughts.....thank you in advance and as always GO RV!!

* State Bank of Vietnam plans to increase dong to dollar value

August 15th, 2011 11:06 am · Posted in NEWS (Iraq & World Currency)

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.

http://www.vietfinan...se-dong-to.html

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://www.vietfinan...se-dong-to.html

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eddiemac Newbie

eddiemac

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Good evening DV friends!! Is it bad that afer this article im starting to have more faith in the VND than the IQD?! Please dont bash...just a little down on the IQD investment right now...and would really love your guys thoughts.....thank you in advance and as always GO RV!!

* State Bank of Vietnam plans to increase dong to dollar value

August 15th, 2011 11:06 am · Posted in NEWS (Iraq & World Currency)

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.

http://www.vietfinan...se-dong-to.html

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://www.vietfinan...se-dong-to.html

looks Like I will be giving more blood to buy some VND now, thanks dude, think I'm half depleted as it is, but oh Boy a million trillion VND? ummmmmmmmmmmmm............

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Theflyingbird Newbie

Theflyingbird

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I really think the Iraqi dinar is going to give us a better return than the Vietnamese Dong but for the price you can buy the Vietnamese Dong for it is worth stocking up on some. That article definitely make you wonder which one is gonna RV first. I am glad I have some of each currency. :)

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eddiemac Newbie

eddiemac

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LOL great now you just gave me a idea on how to buy more VND!!!!! :unsure:;):D

I would try the hair Idea for bread making but as you can see, bald ,bald blad, hope you seen that post...... other wise that will make no sense to ya......... Take care bud............ P.S I do really have a full set of hair, HA, LOl

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DRV1804 Newbie

DRV1804

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I actually have not checked into the dong.... Any suggestions on where to purchase? Just curious :) Thanks!

You can prob get the Dong from a local bank.. prob $60 per million..i bought mine from Tampadinar only because it was easy to get it because they offer the Echeck now....but because its so cheap I found myself saying to myself...hell why not!! LOL

Being invested in both, VND and IQD, it would be nice to have it value along with the USD.......maybe 1:1, probably wishful thinking, hope not.

It was so cheap that we bought several million. .25 would be nice too

I totally agree w it being so cheap...how can ya not at least buy a million and .25 would be great and what a great ROI!!

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BlueOrchid919 Newbie

BlueOrchid919

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Posted (edited)
The State Bank of Vietnam plans to increase the value of the Vietnamese dong against the US dollar over the next four months

The VND is pegged to the dollar. Therefore any adjustments upward would be AGAINST the dollar.

No where in this article does it say the VND is increasing TO dollar value !!!

This post title is VERY misleading and should be changed to reflect the actual WORDING in the article rather than personal interpretation. I am sure you did not intend to cause even one person to buy VND, did you?

Any increases of the VND will be very small. VERY small. Vietnam is controlled by China and China will not allow any major increases. Please do some research on China's position with regard to Vietnam.

Please read news articles at face value.

Edited by BlueOrchid919
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ashtray Newbie

ashtray

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i heard from a man who lives in vietnam and his parents live there and they own a buisness in vietnam .. he said they have very strict rules on their currency leaving their country .. it is a comunist country .. be careful with that one .. im not saying to avoid it .. just do your own dd on that one.. he is not someone i know ,, but sounded well versed on vietnam .. he was just one of the callers who called in on the squad a couple weeks back.. whats the countrys gdp ?

https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html#top... their gdp is twice that of iraq in 2010 and has a work force of 46 million .. with less than 3% unemployment

who knows ..

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littlefeet Newbie

littlefeet

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Posted (edited)

Speed, I can only get 100,000 denoms, are there lower denoms ???? anyone ???

That is all we could get at the time, haven't bought anymore since the initial buy.........need more dollars !!!!!tongue.gif

Thx DRV1804, it would be a great ROI !

Edited by littlefeet
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RVDinar4MyFamily Newbie

RVDinar4MyFamily

Posted
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The VND is pegged to the dollar. Therefore any adjustments upward would be AGAINST the dollar.

No where in this article does it say the VND is increasing TO dollar value !!!

This post title is VERY misleading and should be changed to reflect the actual WORDING in the article rather than personal interpretation. I am sure you did not intend to cause even one person to buy VND, did you?

Any increases of the VND will be very small. VERY small. Vietnam is controlled by China and China will not allow any major increases. Please do some research on China's position with regard to Vietnam.

Please read news articles at face value.

I'm glad someone else noticed it, I was just about to post the same thing.

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brooke Newbie

brooke

Posted
Posted

The VND is pegged to the dollar. Therefore any adjustments upward would be AGAINST the dollar.

No where in this article does it say the VND is increasing TO dollar value !!!

This post title is VERY misleading and should be changed to reflect the actual WORDING in the article rather than personal interpretation. I am sure you did not intend to cause even one person to buy VND, did you?

Any increases of the VND will be very small. VERY small. Vietnam is controlled by China and China will not allow any major increases. Please do some research on China's position with regard to Vietnam.

Please read news articles at face value.

Slight, yes. But even an increase of a few cents would be worth thousands of dollars in investors pockets.

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