Dong convertible by 2010

[patrick39]

Don't know if this has been posted before but here is any way. We all know the IMF takes their time with the process and the dinar sure is proof. Here is the time frame from the IMF. Maybe they will speed it up on Vietnam's recent request I don't know but as of Dec. 2006 (just a few months ago) The IMF says convertible in 2010.


7. Vietnam's progressive liberalization of its exchange system has been an important element of its strategy of integration into the global trading system. Following the removal of remaining restrictions on current international transactions in late-2005, and the acceptance of obligations under the Fund's Article VIII, the authorities have adopted a plan to make the dong fully convertible by 2010.

http://www.imf.org/external/np/dm/2006/121506.htm

[patrick39]

How does this affect the dong pumping effort that we have seen over the last week here?


Reality check

[steamer]

Don't know if this has been posted before but here is any way. We all know the IMF takes their time with the process and the dinar sure is proof. Here is the time frame from the IMF. Maybe they will speed it up on Vietnam's recent request I don't know but as of Dec. 2006 (just a few months ago) The IMF says convertible in 2010.


7. Vietnam's progressive liberalization of its exchange system has been an important element of its strategy of integration into the global trading system. Following the removal of remaining restrictions on current international transactions in late-2005, and the acceptance of obligations under the Fund's Article VIII, the authorities have adopted a plan to make the dong fully convertible by 2010.

http://www.imf.org/external/np/dm/2006/121506.htm

...by 2010. Not IN 2010. Is this just another example of plays on words? BY and IN are two different words. By implies anytime between now and then, eh? :rolleyes:

[Midnight Tide]

How does this affect the dong pumping effort that we have seen over the last week here?


No matter how much the dong is pumped in here, you still have to set limits, what can you afford to lose. I laugh at all the pump and dump that goes on, I say let em cause I only invest what I am willing to lose and thats it.

[patrick39]

...by 2010. Not IN 2010. Is this just another example of plays on words? BY and IN are two different words. By implies anytime between now and then, eh? :rolleyes:


That's why I said maybe they will speed things up on vietnam's request, but
we all know the IMF has their set requirements and this takes time.

[patrick39]

According to the State Dept Website, the dinar has been fully convertible since last summer. Being fully convertible might not be as exciting as it first appears. Let us remember that it is not the same as being RV'ed.

You have a good point but being convertible means to be accepted by other country's is that not correct. Until the dong is convertible it can't be internationally accepted. Am I correct or mistaken?

[Wolverine]

"dong fully convertible by 2010", talk about a slow circumcision !...i mean conversion

[MonteandMe]

The Vietnam Government has said they do not want a strong Dong. It would ruin the manufacturing growth that has been seen over the last several years. The people of Vietnam has been living better and business expanding why would they ruin that. Those people that are paying those prices on Ebay right now will never in their lifetime get their money back. The pushing of the Dong an internet scam.

[ccjl]

You have a good point but being convertible means to be accepted by other country's is that not correct. Until the dong is convertible it can't be internationally accepted. Am I correct or mistaken?
It's already internationally accepted. Unlike the dinar, it's not like it's a new currency, it's been around for decades.

[Garf]

Unlike the dinars, which we cannot buy thru banks here, we can buy & sell VND thru two banks that I've tried. I'm sure the 2 other biggies would as well.

[tonyode]

The Vietnam Government has said they do not want a strong Dong. It would ruin the manufacturing growth that has been seen over the last several years. The people of Vietnam has been living better and business expanding why would they ruin that. Those people that are paying those prices on Ebay right now will never in their lifetime get their money back. The pushing of the Dong an internet scam.


Evidence that its a scam? What Govts want, and what they need to do are two different things quite often. Sorry, but thats ONLY your opinion....just as others have the opinion that it may Rv at some point.

[NAS - T1]

I spent $100 on Dong, whatever happens happens, LOL!

I spent about $10K on Dinar, now this I care about ;)

[MonteandMe]

Evidence that its a scam? What Govts want, and what they need to do are two different things quite often. Sorry, but thats ONLY your opinion....just as others have the opinion that it may Rv at some point.

http://perso.numericable.fr/~patrickgu/cantho/vnnews/devaluat.htm International Bankers expect further declines in the Dong
The process they are doing now is to become a non-restricted currency. It has nothing to do with the valuation but ease that foreign buyers can deal with their buying of Vietnams manufacturing base. The government does not want a higher valuation, foreign bankers actually expect lower valuations in the near future.
EBAY BECAUSE OF THE INTERNET HYPE HAS PEOPLE PAYING TWICE THE VALUE AND YOU TELL ME THIS IS NOT SCAM HYPE!

[ccjl]

That's not what a scam is. This is just people making an investment they think will pay off. A scam has a little more deception to it.

[Karl]

Don't know if this has been posted before but here is any way. We all know the IMF takes their time with the process and the dinar sure is proof. Here is the time frame from the IMF. Maybe they will speed it up on Vietnam's recent request I don't know but as of Dec. 2006 (just a few months ago) The IMF says convertible in 2010.


7. Vietnam's progressive liberalization of its exchange system has been an important element of its strategy of integration into the global trading system. Following the removal of remaining restrictions on current international transactions in late-2005, and the acceptance of obligations under the Fund's Article VIII, the authorities have adopted a plan to make the dong fully convertible by 2010.

http://www.imf.org/external/np/dm/2006/121506.htm

That was just a time frame, once it is carried by banks in the U.S.A. it is fully convertible. All we have to do is wait for a rv which should be before June 2007. Oh by the way, the Bank of America is tradeing the currency since 4-16-07.

[frank a bouchet]

Do not believe this 2010 nonsense-economic forces (and IMF) will force Vietnam to reval their currencies.

[insuratei]

The pushing of the Dong an internet scam. Some people see that IQD is a scam. Why did you invest on it?:eek: