View Full Version : Dong Derivatives May Double; Investors Enter Vietnam
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIp.JlckAubs&refer=home
I didn't think the dong stood a chance but im begining wonder.
Joel57
04-22-2007, 09:16 PM
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIp.JlckAubs&refer=home
I didn't think the dong stood a chance but im begining wonder.
GOT DONG? ;)
GOT DONG? ;)
X million and one ! :)
Goes4ever
04-22-2007, 10:07 PM
looks promising
darock0116
04-22-2007, 11:08 PM
I love this in the blue!!!! DONG DONG DONG!!!!!!!!!:happy64:
Foreign Investment
The value of specialized Vietnam equity funds has swelled to about $5 billion, according to John Shrimpton, co-founder of Ho Chi Minh City-based Dragon Capital, Vietnam's biggest fund manager, with $2 billion in assets.
Hanoi-based Bank for Foreign Trade of Vietnam, the second- largest lender, probably will go public this year and have a market value of about $3.5 billion, the biggest in the nation, said Kevin Snowball, a director of PXP Vietnam Asset Management Ltd. in Ho Chi Minh City. He called his valuation ``speculative.''
Pledges of foreign investment, which rose 49 percent to $10.2 billion last year, are gaining after Vietnam joined the World Trade Organization in January. Intel Corp. of Santa Clara, California, the world's biggest maker of computer chips, plans to spend $1 billion to build a plant in Vietnam. Osaka-based Matsua Electric Industrial Co., the world's biggest consumer electronics maker, opened two factories in the nation this month.
Exports, Remittances
``It's looking like an enormous volume of investment is destined for the country,'' Shrimpton said. ``There are numbers being bandied around of even $30 billion of approved foreign direct investment being possible for this year.''
Rising exports and remittances by more than 3 million overseas Vietnamese will boost the currency, said Joseph Tan, a Singapore-based economist at Standard Chartered. Foreign exchange reserves climbed to $11.5 billion last year. The government predicts growth of 8.5 percent this year, up from 8.2 percent in 2006.
``Everything is arguing for a stronger currency,'' said Tan. ``It will prove very, very challenging for the central bank if they want to continue to maintain a depreciation.''
Joel57
04-23-2007, 12:21 AM
We can sum the whole thing up right here.
``Everything is arguing for a stronger currency,'' said Tan. ``It will prove very, very challenging for the central bank if they want to continue to maintain a depreciation.''
michaelb4348
04-23-2007, 04:02 AM
this looks good i have 1 mil in this stuff go dong
michaelb4348
04-23-2007, 04:10 AM
i like this bit
``You can't imagine the amount of money going into Vietnam,'' said Peter Soh, head of foreign exchange in Singapore at DBS, Southeast Asia's biggest bank. ``Everyone thinks Vietnam will follow China's path. The dong must strengthen.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIp.JlckAubs&refer=home
I didn't think the dong stood a chance but im begining wonder.
Ima go buy me some dong. Any other sites other than eBay?
Yea, where can we get some dong?
michaelb4348
04-23-2007, 04:55 AM
had to get mine from the american ebay as none in the uk.
Sponson
04-23-2007, 05:10 AM
The Vietnam State Bank website has been hit and miss I noticed this morning. But on one occassion it showed 16.119 Dong to the USD.
Bear in mind it was 16<point>119 (16.119) and not 16<comma>119 (16,119). If this is the case I read it as a reval, unless of course it was just an error.
michaelb4348
04-23-2007, 05:14 AM
The Vietnam State Bank website has been hit and miss I noticed this morning. But on one occassion it showed 16.119 Dong to the USD.
Bear in mind it was 16<point>119 (16.119) and not 16<comma>119 (16,119). If this is the case I read it as a reval, unless of course it was just an error.
im confused its still 16.119 either way ?????????????
Sponson
04-23-2007, 05:22 AM
Well, if it was 16 dongs to the dollar that would mean that one dong is equal to 6.25 cents, which would mean that one million dong would now be worth $62,500!
If it was 16,119 dong to the dollar, then that would mean that a million dong would only be worth about $62 - quite the difference ya think?
Again, it could have been a glitch or no tellin' what - it was just an observation...:wave:
michaelb4348
04-23-2007, 05:26 AM
ok get you Well, if it was 16 dongs to the dollar that would mean that one dong is equal to 6.25 cents, which would mean that one million dong would now be worth $62,500!
If it was 16,119 dong to the dollar, then that would mean that a million dong would only be worth about $62 - quite the difference ya think?
Again, it could have been a glitch or no tellin' what - it was just an observation...:wave:
kev655
04-23-2007, 06:27 AM
im confused its still 16.119 either way ?????????????
A COMMA indicates SIXTEEN THOUSAND:$1. A DECIMAL POINT after the 16 INDICATES THE RATE TO BE SIXTEEN:$1 I.E. A VALUE OF 1DONG=$0.0625....
Standard numerical/mathematical notations....
16.119,00 should read 16,119.00
Maybe they have a sense of humour at the SBV ! :)
creativex2c
04-23-2007, 06:45 AM
Is there a company that sends alerts when the Dong changes values like **** Dinar? I would like to get an alert when it goes up. (thinking positive here). PM if need to.
Thanks in advance!
Pecos Billy
04-23-2007, 07:36 AM
Yea, where can we get some dong?
I've been holding dong for several months, purchased mine from Ali at NamMoney.com. (he's also DinarTrade). I proudly hold 11 million. I hope it did revalue to .0625 :happy64:
If it did...I'M RICH!!!!!:happy64:
Go Dong
Go Dinar
Billy
insuratei
04-23-2007, 07:59 AM
A COMMA indicates SIXTEEN THOUSAND:$1. A DECIMAL POINT after the 16 INDICATES THE RATE TO BE SIXTEEN:$1 I.E. A VALUE OF 1DONG=$0.0625....
Standard numerical/mathematical notations.... Kev Do you mean that if I have 5 000 000 dongs I have 312500.00 dollars? { I am not good on math ] :confused: :confused::confused:
Sponson
04-23-2007, 08:01 AM
Kev Do you mean that if I have 5 000 000 dongs I have 312500.00 dollars? { I am not good on math ] :confused: :confused::confused:
YEP!
:happy64:
PegBundy
04-23-2007, 08:02 AM
A COMMA indicates SIXTEEN THOUSAND:$1. A DECIMAL POINT after the 16 INDICATES THE RATE TO BE SIXTEEN:$1 I.E. A VALUE OF 1DONG=$0.0625....
Standard numerical/mathematical notations....
In the US. Globally 16.200 would be read as Sixteen Thousand Two Hundred
Sorry to pop a bubble but it's still 16000+ per USD.
I don't think I'd be here at the moment if I could confirm it was 16.... and trust me, I've checked a lot of places and spoken to a few banks today.
michaelb4348
04-23-2007, 08:03 AM
?????????????????????????????????????????????????? ????????????? the whole thing with dinar and dong hurts my brain just bloody rv please so i may go to sleep for one night at least
Sponson
04-23-2007, 08:06 AM
Sorry to pop a bubble but it's still 16000+ per USD.
I don't think I'd be here at the moment if I could confirm it was 16.... and trust me, I've checked a lot of places and spoken to a few banks today.
You haven't popped any bubbles...no one has said that 16:1 was the official rate - only that it was briefly observed on SBV's website. :)
msmill
04-23-2007, 08:14 AM
Wonder if SBV has an English site or option, as I don't see one?
Sponson
04-23-2007, 08:16 AM
Wonder if SBV has an English site or option, as I don't see one?
Top right, but I've never seen it work...
msmill
04-23-2007, 08:16 AM
Wonder if SBV has an English site or option, as I don't see one?
Nevermind, I see it now.... DUH!!! LOL. :lmao: :lmao: :lmao:
msmill
04-23-2007, 08:17 AM
Top right, but I've never seen it work...
Yeah, it's not for me either. :rolleyes:
nelson6500
04-23-2007, 08:54 AM
Garf, your the Dong master a few questions is for you.
If the dong is worth say 1,600,000 dong to $100.00 usd?
right just rounding off
I have family in vietnam and if the Dong RV's then suppositly my family will have a whole lot more money right ?
Well what happens once the rv has started will all the prices for goods go up along with the rv?
I'm sorry I can't find the rate that it might rv to do you have any Idea what the rv rate will be ?
say I have 1,600,000 mil dong right now it's worth 100.00 usd
what will it be worth after rv? ballpark is fine
I'm not trying to be a smartass I just don't undestand how the dong will change all of the sudden and everything will be OK.
Just think about the U.S.A what if the american dollar rv'd we would all be rich unless all the prices for goods followed.
Adster
04-23-2007, 08:57 AM
Garf, your the Dong master a few questions is for you.
If the dong is worth say 650.00 usd per 1 mil vnd ?
right just rounding off
I have family in vietnam and if the Dong RV's then suppositly my family will have a whole lot more money right ?
Well what happens once the rv has started will all the prices for goods go up along with the rv?
I'm sorry I can't find the rate that it might rv to do you have any Idea what the rv rate will be ?
say I have 1 mil dong right now it's worth 650.00 usd
what will it be worth after rv? ballpark is fine
I'm not trying to be a smartass I just don't undestand how the dong will change all of the sudden and everything will be OK.
Just think about the U.S.A what if the american dollar rv'd we would all be rich unless all the prices for goods followed.
He is King Dong. :D
michaelb4348
04-23-2007, 09:05 AM
i thought this to now surley how can it just rise like that without products rising to as all the people there would be very rich hmmmmmmmmmmm i wonder
Dong master say.....
He who have dong in hand.... very rich...
He who have dong in two hands.... very very rich !
Serious reply to follow
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIp.JlckAubs&refer=home
I didn't think the dong stood a chance but im begining wonder.
I liked this part...
"Vietnam this year ended a decade-long policy of ``managed devaluation'' that caused the dong to weaken 30 percent. The currency gained 0.7 percent between Nov. 22 and Feb. 21. It has since fallen 0.4 percent to 16,043 per dollar as regulators curbed borrowing for stock market investment."
Okay.... let's say the VND is brought in line with the Thai Baht which is what they seek. We get 24 to our dollar, you get 31. Say that's 3c per VND.
If VND opens at 3c, then 1 million dong is $30K US. 5c would be 50K and so on.
When the dong revalues, it's rate will adjust, e.g. wages will fall in numerical terms, as will prices... but not in real terms.
Say it's 3c... you get paid 2 million a week now ($160 USD), after RV you still get paid the same in USD comparison, but it would only be 5280 VND (as 33 dong make $1... x 160) Prices would fall accordingly also... that object that cost half a million VND ($40)... after RV would cost 33 x 40 = just 1320 dong.
The VND will certainly have more buying power as far as imports go. Less warming for exporters.
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