Vietnam exchange rate changes likely as dong May 16, 2012 in VietFinanceNews.com – The Vietnamese dong currency is rising, so exchange rate adjustments may be in store, said economic experts of the National Institute for Finance at a conference in Hanoi last week.
Vietnam dong appreciating says financial research team
MAY 13, 2012 VietFinanceNews.com – The Vietnamese currency, the Vietnam dong, is increasing in value, said a research team of the Institute for Financial Strategies and Policies under the Ministry of Finance at a recent conference. 4-17-2012 Newshound Guru 8Ball China is sitting on all currency's they compete by devaluing each others currency's to stay competitive. The change on Friday was China's attempt to become or compete against the US, 1 cent adjustment on a day can add up quickly especially when the RMB is worth 15 cents I believe...China pulled the peg...let the currency adjustments begin, as an example as China rises South Korea rises, as China rises Vietnam Dong will rise, etc.
Read more: http://www.dinarguru.com/#ixzz1sJUHT7Ag Vietnam’s Central bank buys $6.23 bln for national reservePosted: April 11, 2012 in Asian Currency Markets
this comes via Currency Newshound.... VietFinanceNews.com – The State Bank of Vietnam has used around VND130 trillion to buy $6.23 billion worth of foreign currencies from banking systems for the national reserve. The central bank has also sold some $100 million for the banking system, SBV Governor Nguyen Van Binh said at a recent meeting with the chairpersons and general directors of 14 Vietnamese commercial banks. Vietnam’s foreign exchange reserves as of mid-March jumped 25-27 percent over the end of last year, said the central bank governor in a press conference early last month. Governor Binh then said the forex reserve surged 50 percent in 2011 over 2010. Vietnam’s forex reserve was at $13.5 billion, equivalent to the payments for six weeks of imports following the International Monetary Fund’s norm, in the middle of last year, according to the IMF’s data. The reserve had shrunk to about $10 billion by the end of 2010, said then Minister of Planning and Investment Vo Hong Phuc. The SBV today held the benchmark rate at VND20,828 a dollar for the 15th week in a row, the longest streak of keeping the rate unchanged this year. Liquidity constraints eased The liquidity situation of banks has significantly improved over the end of 2011, said Binh at the meeting. Interest rates on the interbank market have declined dramatically, with the overnight rate dropping to 6 percent a year. This is the basis for the expected downward trend of interest rates in the coming months, he told Sai Gon Dau Tu Tai Chinh newspaper. At the meeting, the central bank also required commercial banks to announce packages for the lowering of interest rates and report the situation to the Monetary Policy Department before April 12. To facilitate lending, SBV will consider delisting some content to reduce certain restrictions for non-preferable lending, including real estate and consumer loans. The central bank has also planned to reduce the risk ratio for property-backed and securities-backed lending from 250 percent to 150 percent and raise the loan/deposit of banks from 80 percent to 90 percent, and of financial firms from 85 percent to 100 percent. This was one important aspect of the draft to amend and supplement some clauses of Circular No 13/2010/TT-NHNN dated back to May 20, 2010. As scheduled, the amended circular will be effective from June 1, 2012. The Central bank will soon issue the document to expand lending activities of commercial banks and anti-unfair competition, and encourage banks to detect cases of offering depositing rates over the ceiling of 13 percent, pledging to handle those cases seriously. The central bank will continue maintaining the interest rate cap, while considering the abolishment of the interest rate ceiling if objective conditions are met in the end of Q2 or the beginning of Q3. It had previously planned to reduce benchmark interest rates by 1 percent every quarter, expecting rates to ease to 10 percent by year-end, according to newswire VnExpress. SBV will lower the deposit interest rate cap by another 1 percent to 12 percent thanks to more stable macroeconomic indicators, slowing inflation, and improved bank liquidity, VnExpress quoted Do Thi Nhung, deputy head of the SBV’s Monetary Policy Department, as saying. Vietnam’s credit growth as of March 20, 2012 was negative 2.13 percent, according to the report of Vietnam National Financial Supervisory Commission (NFSC). 4-10-2012 Intel Guru Bulldog75 IMHO, DONG IS IN SAME BASKET [as dinar]; DONG STRONG AND HIGH. GOOD TO GO. TY.
4-5-2012 Intel Guru Bulldog75 DONG IS HIGH. YOU MAY FALL OUT OF YOUR CHAIR; BUT I HAVE ALWAYS SAID "ITS THE SLEEPER OF ALL THE RATES & YES IT WOULD COME IN HIGH. IT WILL. WE ARE HOLDING ON FINAL CALL OF ANY RATE. WE WAIT FOR EVERYTHING TO BE OFFICIAL.
4-4-2012 Intel Guru OKIEOILMAN: I AGREE WITH BULLDOG. 3-31-2012 Dong Guru bluwolf AND YES THE VND IS IN THE BASKET. ALL 195 COUNTRIES ARE IN THE BASKET. I GOT FLYS ON ALL WALLS
3-30-2012 Dong Guru Cap 1 THE DONG MAY NOT BE RV'D WITH THE IQD. STILL TRYING TO GET CONFIRMATION. IF IT'S NOT, GUESS WHO WILL OWN ALOT OF DONG AFTER I CASH OUT?
8:17 PM [poppy3] i can say that the viet nam according to one of my sources stated they where told by a international banker that the banks in vn have been told to prepare for the dong to rv this week. poppy3
8:30 PM [poppy3] ok the dong rate will be pushed by china since they have been purchasing most of the vn banks and lots of their factories and land for commercial developement over the last 3 years. i truely expect the dong will come out around .03 to.06 cents but will float unlike the dinar that i feel will be fixed . I think the dong will rise over the next couple years to around .14 to 16 cents. use your own judgement. poppy3 |