Vietnam Currency Discussion Board

[RyNo_23]

Thanks for the lesson, now when is the Dong going to RV?


;)

[Annett-Se]

Vietnamese dong
Dong is the official currency of Vietnam. Each dong was divided into 10 haos and each hao into 10 ha. Hao and Xu units are no longer common today.
Dong, abbreviated ? and alphabetical code VND, is the currency of Vietnam.

[Nayra]

In order to appear for the entrance test, the candidates first need to submit the application form. Only the registered candidates will be issued the AP ICET 2019 Admit Card and can appear for the test. The shortlisting of candidates will be done on the basis of their performance in the entrance exam.

http://www.apicetonline.in/icet-certificate-verification-process-centres/

http://www.apicetonline.in/icet-ime-table/

http://www.apicetonline.in/forgot-icet-application-registration-hall-ticket-number/

http://www.apicetonline.in/icet-pass-marks-pass-percentage/

http://www.apicetonline.in/icet-previous-papers-solutions-free-download/

The finally selected candidates can then appear for AP ICET Counselling. Check more details about AP ICET 2019 including eligibility, important dates, exam pattern, registration, syllabus, etc. from this page.

[Nayra]

In order to appear for the entrance test, the candidates first need to submit the application form. Only the registered candidates will be issued the AP ICET 2019 Admit Card and can appear for the test. The shortlisting of candidates will be done on the basis of their performance in the entrance exam.

http://www.apicetonline.in/icet-certificate-verification-process-centres/

http://www.apicetonline.in/icet-ime-table/

http://www.apicetonline.in/forgot-icet-application-registration-hall-ticket-number/

http://www.apicetonline.in/icet-pass-marks-pass-percentage/

http://www.apicetonline.in/icet-previous-papers-solutions-free-download/

The finally selected candidates can then appear for AP ICET Counselling. Check more details about AP ICET 2019 including eligibility, important dates, exam pattern, registration, syllabus, etc. from this page.

[collegeboi]

So what is the Vietnam Currency?

[richboy1]

great interview about the dong, dinar and financial world of the 1% and whats coming http://www.mixcloud.com/Tir_na_Saor/mad-world-009-with-ciaran-in-oz-on-global-finance/

[RJ Trotts]

best of luck to you, I have plenty and just am sitting on them waiting to see if this is the Great Investment that it has the potential to become...

[RyNo_23]

Just picked up a chunk so now I'm in the game ;)

[RJ Trotts]

Vietnam produces so many items that we use in the US on a daily basis, including clothing, footwear, and many other items. The stronger we get with them, the better as far as trading agreements.

[RyNo_23]

Vietnam president to visit US, ties expected to get boost
Last Updated: Friday, July 19, 2013 08:00:00

President Truong Tan Sang will be in the US from July 24 to 26 for a visit described by the Ministry of Foreign Affairs as of great significance in making bilateral ties broader and deeper.

He would hold talks with American President Barack Obama on major directions for bilateral ties, especially economic, trade, investment, science and technology, and education and training, MOFA spokesman Luong Thanh Nghi said at a media briefing Thursday.

Nghi said the two sides would discuss international and regional issues of mutual concern, and that Sang would meet representatives of the US government, Congress, and a number of international organizations, US scholars and businesspeople as well as the Vietnamese community there.

Since Vietnam and the US normalized relations in 1995, their ties have been developing positively.

They have agreed on establishing a relationship of active partnership and friendship, multifaceted cooperation, mutual respect and benefit.

The visit would be significant in continuing the promotion of bilateral ties, he said.

A statement released July 11 on the White House website said Obama would host Sang at the White House on July 25.

“The President welcomes this opportunity to discuss with President Sang how to further strengthen our partnership on regional strategic issues and enhance our cooperation with ASEAN.

“The President also looks forward to discussing human rights, emerging challenges such as climate change, and the importance of completing a high standard Trans-Pacific Partnership agreement.”

This visit would be only the second by a Vietnamese head of state to Washington since 1995, after Nguyen Minh Triet’s visit in 2007.

http://www.thanhniennews.com/index/pages/20130719-vietnam-president-to-visit-us-for-closer-ties.aspx

[RJ Trotts]

I know the economy in Vietnam is growing that is why I would like to see this one over Iraqi Dinar re-value their currency, also the Lowest ratio to currency in the world is the Dong, I would not expect that too last, as the Vietnam economy continues to grow. I hold both just in case, but Iraq does not seem likely right now to revalue their currency. Best of luck to you in all that you invest in.

[Ray1957]

What's up with the Vietnamese Dong? Any speculation for the near future? Which would be first to ReValue? Dong or Denar?

Ty

[mick]

now that is a nice currency exchange.

[RJ Trotts]

I can remember the peso being about 30:1, and now it is 15. That does not say much for the dollar. I know VND is about 21,000:1 or so. Really nice to go to that beautiful country and climb around the tunnels in Chi town and visit Saigon. I was with my wife over there visiting for over 2 weeks, other than the 24++ hour flight it was awesome.

[mick]

this is one of few where dollars go that long. mexico said to be 15 to 1.

thank you for sharing.

we you by your self?

[RJ Trotts]

I visited Vietnam earlier this year it was a beautiful country and the currency goes a LONG ways. Heck I had a massage a day at $1 USD....you can not beat that for 45 minutes of paradise. I for one want to go back. Lets face it, the Dong goes alot further than our dollars.

[mick]

i here going to do some nam stuff on hbo soon. maybe done some.

[RJ Trotts]

Interesting read, thanks PK. I hope that you are doing great with all your investments. Enjoy the rest of the weekend.

[pkripper]

Vietnam to Devalue Dong 3.4%


By NGUYEN PHAM MUOI And PATRICK BARTA

HANOI—Vietnam said it will devalue its currency for the second time in less than three months as the Southeast Asian nation continues to struggle with a hangover from economic volatility during the past two years.

An increasingly popular destination for Western capital, Vietnam continued to post strong growth rates even through the dark days of last year's global recession. But economists say the country's strong recent performance–including growth of roughly 5.5% in 2009, according to the World Bank—masks serious underlying problems including a large trade deficit, high inflation and a shortage of U.S. dollars needed to keep the financial sector humming.

All that has put severe pressure on the Vietnamese dong as local residents lose confidence in their currency. By contrast, some other Asian countries have seen their currencies rise recently, as their economies regain their footing after the latest global financial crisis.

The State Bank of Vietnam, the country's central bank, said Wednesday it will devalue the Vietnamese dong by 3.4% effective Thursday. That comes on top of a 5% devaluation in November and two other devaluations since June 2008. Now, one U.S. dollar will buy 18,544 dong, compared to 17,941 dong earlier in the week.

The central bank on Wednesday also imposed a 1% ceiling on interest rates on dollar deposits at banks by "economic institutions," not including credit institutions, to try to flush more greenbacks into the market.

The devaluation will help make Vietnam's key exports, which include shoes, coffee and rice, cheaper than those of many other Asian countries, potentially improving its relative position in global trade. That could increase tensions with some neighbors, especially Thailand, with which it competes heavily in global markets. Thailand has already complained that some currencies in the region, including the Chinese yuan, may be undervalued.

But it's unclear whether the devaluation will be enough to ease the tensions in Vietnam's economy. The problems stem in part from imbalances lingering from Vietnam's years of rapid expansion from 2000 to 2007, when gross domestic product grew an average of 7.5% a year and inflation got out of control, reaching a peak of 28% in August 2008.

Although the global credit crunch helped ease inflation, it dented foreign direct investment in Vietnam and pushed exports into a slump, swelling the country's trade deficit and exposing its over-reliance on overseas markets. Vietnam estimated its trade deficit in January was $1.3 billion, with imports leaping 87% and exports rising 28%.

Inflation, meanwhile, has shown signs of returning: January inflation was 7.62%, exceeding a government target for the whole year of 7%.

Many Vietnamese residents have responded by hoarding dollars out of fear the dong will become even less valuable in the future.

The non-convertible Vietnamese currency is allowed to trade within a band of 3% on either side of the midpoint the central bank sets daily. However, it has been beyond the band's weak end on unofficial markets for more than a year – an indication of residents' lack of confidence in the dong.

On the unofficial market, such as in gold shops that double as foreign-exchange dealers in Vietnam, one dollar was buying 19,180 dong earlier on Wednesday.

The latest devaluation comes just days before the Lunar New Year festival, or Tet, which is Vietnam's biggest holiday, a time when cash is in demand and bank liquidity is under pressure.

[RJ Trotts]

Did you find anything about your Devalue? Just curious, I wish you the very best with this and all other investments.

[WayneC777]

Hey bud, can you


contact me please

407-660-0454

[lottoplayerslair]

VND to the USD converter!
http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=VND

NOT TODAY!!!!!!!!!!!THE VND IS RECOVERING AGAINST THE U S DOLLAR LOOK. FINALLY WE MIGHT SEE SOMETHING GOOD COME OUR WAY!!!!!!!!!!!!!
http://finance.yahoo.com/q/bc?s=USDVND=X&t=5d&l=on&z=m&q=l&c=

[WayneC777]

That will never happen. After all our Government has lied to us for years. What makes us think they are going to change now.

Watch #9

Main Keys:
1 -

CNN - President Bush Signs away the United State's ...
2 -

Rockefeller Reveals 9/11 FRAUD to Aaron Russo
3 - http://video.google.com/videoplay?docid=8797525979024486145&q=9/11%20Mysteries&hl=en ……. CIA – Dealing Drugs
4 - http://video.google.com/videoplay?docid=-6089039923809123110&q=lindsey%20williams&hl=en OIL... Short Version
5 - http://video.google.com/videoplay?docid=8400592192983813561 Long but Worth it. Insider whistle blower …
6 - http://video.google.com/videoplay?docid=5785080240281184336 TT - Building Engineer
7 - http://video.google.com/videoplay?docid=4488542891415681105 Twin Towers with Engineers
8 - http://www.thetruthseeker.co.uk/article.asp?ID=8964 Government Insider - George W Bush Authorized 911 Attacks
9 - http://video.google.com/videoplay?docid=6223232123104914517&ei=-9i4SciUE4G0wgPx1s3IAQ&q=Obama+deception+site%3Avideo.google.com&hl=en&so=1&dur=3 Buildeberg Organization

[RJ Trotts]

I see this currency continues to plummet. I guess it shows dilution is NEVER a good thing. No matter if in stocks or currency. I just wish the govt would use what they have, rather than printing more. Hmmmm??

[lottoplayerslair]

vnd 17450 12/26/08 wow wrong way

[lottoplayerslair]

17200 vnd = $1 usd ..it is the u s dollar doing too well versus the vnd doing so so.

[SPARK]

Vietnam not doing too well?

[lottoplayerslair]

17250 vnd to one u s dollar

[RICK C]

Wow a whopping $57.per million Dong. DUMP them ASAP

[lottoplayerslair]

17348 vnd to one dollar now

[RICK C]

Dec 1, 2008
SBV Sets USD/VND Exchange Rate At 16,481on Dec 01


Official USD/VND rate: 16,481 -2
Vietcombank buys at : 16,970 unch
Gold shops buy at : 17,200 +20

Vietnam's central bank set the dollar's exchange rate lower at VND16,481 Monday.

The state-owned Vietcombank bought the dollar unchanged at VND16,970. It sold at VND16,975, compared with VND16,977 Friday.

Gold shops bought higher at VND17,200 and sold higher at VND17,250, compared with VND17,220 Friday.

Dealers said they expect the rate to stay little changed this week on weak dollar demand. (Dow Jones)

[RICK C]

Nov 1, 2008
Bonds rise, capping fourth monthly gain; dong advances




Five-year bonds rose Friday, completing a fourth straight monthly gain, as high interest rates deterred borrowing, prompting banks to steer funds into government debt. The dong advanced, paring its October loss.

The yield on the benchmark note dropped 35 basis points in October to 15.52%, from 15.87% September, according to a daily fixing price from 10 banks compiled by Bloomberg. A percentage point consists of 100 basis points.

“Banks have had a surplus of cash as companies are not borrowing because of high interest rates,” Vu Thanh Tu Anh, director of research of the Fulbright Economic Teaching Program in Ho Chi Minh City, said. “They are putting money in government bonds so demand for the note has increased.”

Slowing inflation and the prospect of interest-rate cuts are also helping boost demand for bonds.

Consumer prices decreased 0.2% in October, the first decline in more than a year and a half. The central bank’s benchmark interest rate, which was cut by a percent to 13% on October 20, is still the highest in Asia, along with Pakistan’s.

The currency weakened by 1.4% this month, the biggest monthly drop since June. The dong traded at 16,830 per dollar as of 4:18 p.m. in Hanoi Friday, compared with 16,837 late Thursday and 16,600 at the end of September, according to data compiled by Bloomberg.

The State Bank of Viet Nam fixed the reference rate at VND16,511, compared with VND16,512 Thursday, according to its website. The currency is allowed to trade by up to 2% on either side of the official rate. (Bloomberg)



http://www.vnstocknews.com/2008/11/bonds-rise-capping-fourth-monthly-gain.html

[RICK C]

Same here.lol well what's in store for it in 09. Only Time will tell.

[pkripper]

Me too! still holding though. :-/

[RICK C]

Yea , It's supposed to be LESS DONG for MORE DOLLAR. I'M FEED UP WITH BOTH-the DONG and DINAR.

[pkripper]

That's the wrong way.

[RICK C]

Currency Converter Results
Monday, October 27, 2008

1000000 Vietnamese Dong(s) = 59.3613 US Dollar(s)
1 USD = 16846 VND
1 VND = 5.93613e-05 USD

[RICK C]

E-Mail | E-Mail Newsletters | RSS


Thomson Financial News
UPDATE 1-Vietnam Money-Dong falls as investors seek dollars
10.27.08, 4:38 AM ET


HANOI, Oct 27 (Reuters) - The Vietnamese dong may fall to 17,000 per dollar soon due to strong demand for the U.S. currency from importers and equity investors, bankers said.

'The rise in the dollar against the dong is not abnormal and is not synonymous with a deep depreciation in the dong,' Doan Huu Tue, of the central bank's banking development strategy department, was quoted as saying in a government monetary market report.

'After balancing export-import targets, a reasonable exchange rate could be at a level of 17,000 dong to a dollar.'

He did not say when that level might be reached. On Monday, the central bank set the mid-rate for interbank transactions at 16,517 dong per dollar, little changed from a month ago.

'Apart from the usual dollar requirement from importers, a significant part of the rise in demand for the greenback came from foreign equity and bond investors who are under a mandate to restructure their portfolios, not just in Vietnam but globally,' an analyst at a bank in Hanoi said.

Stock traders said on Monday foreign investors had been net sellers in the past 14 sessions to repatriate funds. The country's stock market has fallen more than 60 percent so far this year after a gain of 23 percent in 2007.

The State Bank of Vietnam said in a weekly market report seen on Monday that its base-rate cut of one percentage point to 13 percent early last week also contributed to the weakened dong.

The bank cut its base rate from Oct. 21 as part of efforts to ensure economic growth and limit the impact of the financial crisis.

'The central bank is closely monitoring developments in the market in order to take timely measures to stabilise foreign currency demand and supply if needed,' it said in the report.

Vietcombank, Vietnam's top bank to handle trade payments, said dollar sales more than doubled to $162 million on Oct. 22 from $60 million on Oct. 20, compared with average daily sales of around $50 million in the first nine months of 2008.

State-run BIDV, Vietnam's second-largest bank, said dollar sales also more than doubled to $50 million on Oct. 23 from $20 million the previous day, the report said.

On the interbank market the dollar was trading at 16,840 dong to 16,850 dong at 0300 GMT on Monday, at the top of the trading band of 2 percent against the central bank's mid rate.

The interbank's dollar rate was about 1.5 percent higher than a month ago, Reuters data showed.

(Reporting by Nguyen Nhat Lam; Editing by Jan Dahinten)

[pkripper]

I read it when i can. Thanks for all you posts in the past. Just sad I bought it.(right now)

[RICK C]

MY LAST POST ON THIS BOARD-SINCE NO ONE reads it any more.---------------------------------------------------------------


Vietnam Keeps Key Rate at 14%, Resisting Calls to Cut (Update3)

By Nguyen Kieu Giang and Nguyen Dieu Tu Uyen

Aug. 29 (Bloomberg) -- Vietnam's central bank kept interest rates unchanged to slow inflation from 28.3 percent, resisting calls to cut lending costs from the highest in Asia.

The State Bank of Vietnam will maintain the key rate at 14 percent for the next month ``to pursue its tight monetary policy in order to help curb inflation, and support production,'' according to a statement on the bank's Web site today.

``Keeping interest rates at this level shows that the government is ready to sacrifice economic growth and prioritize fighting inflation,'' said Huynh Thi Thanh Van, head of the capital markets division at Sacombank Securities Co. in Ho Chi Minh City.

Policy makers have been under pressure from companies to reduce borrowing costs, after three increases this year. Signs of moderating food and energy prices suggest the Southeast Asian nation's inflation, the fastest in Asia, may peak next month, according to JPMorgan Chase & Co. and HSBC Holdings Plc.

The government has cut this year's economic growth target to 7 percent from 9 percent as it fights inflation. Expansion was 8.5 percent last year, the fastest in more than a decade.

Representatives of Vietnam's associations for furniture, coffee and cacao, cashew nuts, fisheries, and footwear said in July that their members have serious shortages of cash to buy materials needed to keep production running.

`More Time'

Vietnam raised the benchmark rate from 12 percent on June 11. It also increased the refinancing rate to 15 percent, and the discount rate to 13 percent.

``We've seen some signs that inflation is slowing down, but it hasn't been that long since they last raised the base rate,'' said Kevin Snowball, Ho Chi Minh City-based chief executive of PXP Vietnam Asset Management Ltd. ``They need to give that more time to have an impact.''

Malaysia's central bank on Aug. 25 kept its benchmark interest rate unchanged to avoid worsening an economic slowdown. Thailand, Indonesia, India and the Philippines have all increased interest rates this year.

In a separate statement, the State Bank of Vietnam also said it will raise the interest rate it pays to banks on compulsory reserves to 3.6 percent from 1.2 percent.

The central bank lifted the reserve requirement to 11 percent from 10 percent on Jan. 16 and doesn't plan to lower it for the time being, Governor Nguyen Van Giau said yesterday.

Fund Shortage

Higher interest on these reserves will ``enable lenders to lower lending rates to help companies and borrowers boost production and business,'' today's statement said.

``This is really good news for banks as it helps us to reduce our lending interest rates and so it will be easier for us make loans,'' said Le Dao Nguyen, deputy chief executive officer in Hanoi at Bank for Investment & Development of Vietnam.

BIDV, the country's second-biggest lender by assets, today said it will reduce lending rates by as much as 0.8 percentage point to as low as 18 percent, according to an e-mailed statement from the bank.

Vietnam's four biggest lenders last month all cut lending rates from as high as 21 percent in response to pressure to ease a fund shortage.

Year-on-year inflation accelerated from 27 percent in July, and hasn't slowed since January 2007.

Inflation may peak in September at about 29 percent and lose pace in coming months as the economy slows, according to JPMorgan. Gains in consumer prices will probably slow after reaching a high of 28.4 percent next month, HSBC says.

A reduction of gasoline prices this week also spurred speculation that inflation may be close to peaking. Vietnam on Aug. 27 allowed retailers to lower gasoline prices for a second time this month, reducing costs by more than 5 percent because of falling oil prices.

To contact the reporters on this story: Nguyen Kieu Giang in Hanoi at [e-mail]; Nguyen Dieu Tu Uyen in Hanoi at [e-mail].

Last Updated: August 29, 2008 05:51 EDT

[RICK C]

State Bank of Viet Nam helps stabilise economy

(12-08-2008)

During yesterday’s online interview on the Government’s website, central bank Governor Nguyen Van Giau re-affirmed the capability of the State Bank of Viet Nam (SBV) to effectively stabilise the foreign exchange (FX) market whenever the market showed an unbalanced supply-demand ratio due to sentiment and speculation.

What is the central bank’s master plan to balance the target of controlling inflation and the target of ensuring sufficient capital for enterprises?


Governor of the State Bank of Viet Nam Nguyen Van Giau. — VNA/VNS Photo The Anh
Facing the global economic bailout and the complicated changes in the domestic economy since early this year, the Government is determined to achieve three major targets: control inflation, stabilise the macro-economy, and ensure social security and stable development. Of these, controlling inflation is the first priority.

The SBV has simultaneously implemented five measures to manage the monetary market and banking system.

First, the SBV has withdrawn money from circulation, increased compulsory reserves in commercial banks, issued compulsory treasury notes, and controlled the growth of total payment methods and credit. All these measures are aimed at curbing total demand and consumer prices.

Second, the central bank has renewed the interest-rate management mechanism, and increased the prime interest rate, the refinancing rate and the discount rate. This was to create a reasonable interest rate corridor for outstanding loan growth, and to pursue positive interest rates [deposit rates higher than inflation rates].

Third, the central bank has managed a flexible exchange rate policy. The SBV has widened the daily trading band on inter-bank market to +/-2 per cent from +/-1 per cent against the interbank rate. The central bank also co-operated with authorities to check and stop speculation and illegal trading on foreign currencies in order to stabilise the FX market.

Fourth, the central bank raised support for commercial banks via open market operations and other refinancing methods. Capital was prioritised for manufacturing, export, major national economic projects, agriculture and rural development.

Fifth, the SBV has improved monitoring of the monetary market and credit institutions, and created a modern information system. So far, credit institutions are safe with capital adequacy ratio (CAR) higher than the regulated level.

The Prime Minister has emphasised that the central bank is the major tool for curbing inflation. So is it necessary to improve the central bank’s role?

As a state administrator on money and the banking system, the central bank plays an important role in stabilising currency values, controlling inflation, and boosting socio-economic development under a socialist orientation.

In Decision No 112/2006/QD-TTg, the Government ratified the master plan for developing Viet Nam’s Banking system towards 2010 and 2020. The project is designed to develop the central bank into a modern one in accordance with the standards of other regional central banks.

In the near future, the SBV will continue to perfect the legal framework of the banking business.

As a rule, demand on goods imports risen sharply in the latter part of the year, which results in high demand for foreign currency. How does the SBV plan to stabilise the exchange rate at the end of this year?

The ongoing measures of the Government to control the trade deficit lead us to estimate that by the end of this year, it will be less than US$20 billion. At this level, foreign reserves from many sources are sufficient to compensate for the trade deficit.

Moreover, remittance by the end of the year is expected to increase. Foreign direct investment disbursement and revenue from exports are also expected to move up. Thus, supply of foreign currencies is predicted to be in surplus and the USD/VND exchange rate is expected to be stable.

In case the market shows an unbalanced supply-demand due to sentiment or speculation, the central bank will be able to quickly return it to the right track.

In the coming months, the SBV will continue to flexibly manage the exchange rate policy based on market realities so as to encourage exports and limit imports.

Many experts assume that granting licences to set up new banks is rather ‘open’, particularly for a small economy like Viet Nam. What is the opinion of the SBV in this issue?

Implementing the government’s order, the central bank had stopped granting licences to new banks in 1996 to strengthen the existing banking system. However, pursuant of World Trade Organisation commitments, after 2006, Viet Nam was not be able to refuse licences to new banks.

Under international regulations, the SBV issued Decision No 24/2007/QD-NHNN on June 7, 2007 regulating the setting up of new banks. In the first seven months of this year, the SBV granted operating licences to a mere two banks -- LienViet Bank and TienPhong Bank.

Facing monetary difficulties in local and global markets, the Government has ordered the central bank to adjust the criteria for setting up joint stock commercial banks. As this is still ongoing, the central bank has paused granting licences to new banks.

The criteria will be changed with a view to ensuring that any new bank must have a strong financial capacity and be able to compete in this era of international economic integration. — VNS

[RICK C]

ietnam sells 129 bln dong govt bond at auction
Thu Jul 31, 2008 10:33pm EDT Email | Print | Share| Reprints | Single Page| Recommend (-) [-] Text [+]

powered by Sphere
Market News
Growth fears plague stocks, undermine oil
Dollar near 1-month high vs. euro before U.S. jobs data
Oil extends losses to $123 on waning U.S. demand | Video
More Business & Investing News... Featured Broker sponsored link
Learn to Trade with a FREE Guide.HANOI, Aug 1 (Reuters) - The Vietnam Development Bank has raised 129 billion dong ($7.82 million) by selling government bonds at an auction, the Hanoi stock exchange .HASTCI said.

The 15-year bond was sold at an annual yield of 15 percent to three unidentified bidders at an auction on Thursday after they bid for yields of between 14.5 percent and 20 percent, the exchange said in a statement issued late on Thursday.

The state-run bank also offered five-year and 10-year bonds worth 400 billion dong but bids for the five-year debt of 21-22 percent and 20.5 percent for the 10-year debt were all above the 15 percent ceiling the bank was prepared to accept, the statement said.

The Vietnam Development Bank and the Vietnam Bank for Social Policies are Vietnam's two lenders that provide soft loans to support the government's development projects such as infrastructure construction, agricultural production and exports.

The development bank issues bonds on behalf of the government to raise funds for these projects.

In the auction on July 16, the Vietnam Development Bank sold 15-year bond worth 7 billion dong also with yield of 15 percent. ($1=16,496 dong) (Reporting by Ho Binh Minh; Editing by Clarence Fernandez)



© Thomson Reuters 2008 All rights reserved


Share:Del.icio.usDiggMixxMy WebFacebookNewsvine

More Financial Services and Real Estate
HK shares turn positive on Hu's growth comments
CORRECTED-JLT sees more acquisition opportunities
Emerging debt-Asian debt spreads widen; Towngas bucks moves
Nikkei at 2-week closing low as banks, NEC drag
More Financial Services and Real Estate News...

Related Blog Posts
Inter-American Development Bank loans $260 million for $1 billion Brazilian sugarcane ethanol project
Biofuels Digest
Bank Dividend Yield Revisited
The Sun's Financial Diary
Vietnam’s Coming Resurgence Explained: 6 Reasons Why You Should Get In Now
Contrarian Profits
Afghanistan, another Vietnam?: By Arnaud De Borchgrave
WATANDOST
World Bank : New ways for Sub-Saharan Africa to finance development
Sociolingo's Africa

Views in these blog posts are those of the author and not of Reuters.

also on reuters
Video NASA says Mars craft "touched and tasted" waterKabul book-seller uses Web to spark Afghan reading interestSlideshow Scenes of nature from Indian monsoons to California fires
Ads by Career BuilderWhat's This?
Commercial Real Estate (CRE) Servicing and Asset Management
Details: ...Bank is seeking Real Estate Finance professionals for its Commercial Real Estate Servicing and Asset Management areas...

Tax Manager-Real Estate
Details: ...audit, tax and advisory firm...industry insights and a multidisciplinary range of services. We are currently seeking a Real Estate Tax Manager...day-to-day advisory and tax compliance services * Provide...

Real Estate Senior Portfolio Accountant
Details: ...Town Real Estate firm since...that provides real estate investment management services to institutional and qualified...portfolios of real estate valued at...

Real Estate Accountant / Bookkeeper
Details: ...and growing real estate investment and property management...seeks a qualified real estate accountant / bookkeeper...reconciliation, and payroll accounting...effectively with financial institutions, tenants...

[RICK C]

Monday, July 21, 2008
Vietnam Dong Gains Most in Nine Years as Banks Sell Dollars


Vietnam's dong climbed the most in nine years against the dollar after lenders and exporters sold the U.S. currency to meet local funding needs. Government bonds gained.

The currency was at 16,640 per dollar as of 4:10 p.m. in Hanoi, from 16,795 on July 18, according to data compiled by Bloomberg. Today's 0.92% advance marked its best one-day performance since April 1999.

Dong liquidity is very tight and interest rates are high, and with most banks short of dong, they tend to need to sell dollars to get dong,'' said Nguyen Hoang Son, a foreign-exchange trader at Citigroup Inc. in Ho Chi Minh City. Exporters also cut bets that Vietnam's currency would resume a losing streak that drove it to a record low earlier this month, he added.

The currency has rebounded 1.2 percent since reaching 16,850 per dollar on July 9, the weakest level since at least 1993. Speculation inflation will slow from a 16-year high also helped provide some support for the dong today.

Vietnam's consumer price index will rise by about 1 percent this month from June, Nguoi Lao Dong newspaper reported, citing Le Xuan Nghia, general director of the central bank's banking development strategy department. That's less than last month's 2.1% increase and may help bring the nation's inflation rate down from June's 26.8%, which was the highest since at least 1992 and more than triple the level of a year earlier.

Vietnam's economy also shows signs of strengthening in the second half and the exchange rate has become more stable, Nghia was reported as saying. The currency slumped to 16,850 per dollar on July 9, the weakest since at least 1993.

Fuel Increases

In the market we heard inflation this month would be about 1.2 percent,'' said Duong Minh Duc, a fixed-income trader at the Ho Chi Minh City-based Saigon Securities Inc.

Brokerages including Citigroup said the dong retraced much of its gain in the afternoon after fuel price increases announced today by the government fanned speculation inflation will gather pace. Such a rebound was not recorded in data compiled by Bloomberg.

The government raised the price of gasoline by 31% and that of kerosene by 44% to reflect higher crude oil costs, prompting HSBC Holdings Plc to predict that inflation would exceed 30% next month.

The State Bank of Viet Nam said on its Web site it has sufficient foreign currency to meet domestic demand and urged people not to rush to buy dollars. The central bank fixed a daily reference rate of 16,500 a dollar, compared with 16,501 on July 18, its Web site said. The currency is allowed to trade up to 2% on either side of the rate.

Further Weakness

Non-deliverable forward contracts indicate traders are betting the dong will drop 12% against the dollar to 18,990 in the next 12 months.

Forwards are agreements to buy and sell assets at current prices for delivery at a specified time and date. Non- deliverable contracts are used for currencies that can't be freely converted and are settled in dollars.

The Southeast Asian nation's benchmark bonds gained for a fourth straight day today. The yield on the five-year notes fell 40 basis points to 18.83% as of 4:30 p.m. in Hanoi, from 19.23% on July 18, according to a daily fixing price from 10 banks compiled by Bloomberg. A basis point equals 0.01 percentage point and yields move inversely to prices.

http://www.vnbusinessnews.com/2008/07/vietnam-dong-gains-most-in-nine-years.html

[RICK C]

What do you make of this, if 1 Million=$10.oo=
Currency Converter

Currency Conversion Results
Symbol U.S. Dollar Exchange
Rate Vietnam Dong Bid Ask

USDVND=X 1 Jul 4 16,847 16,847 16,847 16,852

when dealers are charging at least $60. PER million Dong .

[RICK C]

Glad to meet you, I would like to hear your View on the Currency, If you care to tell us. Do you think they will or won't Revalu the Dong. do you have any connections back in VN.
Rick.

[JusDePomme]

1000000= 10 us

[JusDePomme]

Hello rick...i am vietnamese here!

[RICK C]

Conference looks at WTO’s impacts

(04-07-2008)

HA NOI — A conference on the problems faced by Viet Nam one year after joining the World Trade Organisation opened in Ha Noi yesterday, co-organised by the Ministry of Trade and Industry, the World Bank and Viet Nam’s post-WTO Co-operation Technical Programme.

Intellectual property protection, Viet Nam’s implementation of WTO obligations, improvements in the legal system and the impact of agricultural and environmental agreements on the legislation of Viet Nam were among 11 issues discussed at the conference.

The issue of intellectual property was mentioned as one of the most urgent problems of the post-WTO period.

According to experts, Viet Nam’s weak enforcement mechanisms for the protection of intellectual property rights (IPR) has hindered the development of high-tech industries, an area in which Vietnam has huge potential. Meanwhile, the entertainment industry continues to be troubled by illegal piracy.

According to Thomas Theutler, a lawyer invited to the conference by the World Bank, Viet Nam should apply stronger fines for violations of IPR and establish a specialised intellectual property court.

Experts at the conference also suggested that courts should make their decisions independently without the aid of administrative agencies.

The conference went on to cover the impacts of WTO membership on agriculture as well as the influence of the WTO’s Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement) on the legislation of Viet Nam.

Viet Nam currently faces problems in supporting farmers and foodstuffs processors, in particular with poor infrastructure compared to that of its main competitors in agricultural trade. Difficulties also remain in the monitoring, surveillance and reporting of plant and animal health and food safety hazards.

Regarding Viet Nam’s implementation of WTO obligations and improvements in the legal system, David Gantz from the University of Arizona suggested raising judicial salaries, improvement of legal and judicial training and the creation of a specialised court or courts with exclusive jurisdiction over international trade cases, intellectual property cases and commercial cases. He also proposed establishing a truly independent anti-corruption commission, increasing transparency, and the publication and disclosure of proceedings throughout the central and provincial governments. —VNS

[RICK C]

Home
News

Thomson ReutersVietnam's economic indicators - July 1
--------------------------------------------------
Tue Jul 1, 2008 10:29am IST
Vietnam's economic indicators VNECI01
VNECI02. * Updated today CURRENCY/INTEREST RATES July 1 Dec. 28, 2007 July 2, 2007
*Dlr/dong (c.bank rate) 16,517 16,111 16,132
*The VN Index .VNI 409.61 927.02 994.17 *Latest (June 11) Previous (May 19, 2008)
Base rate 14.0 12.0
(for deposits, lending)
Discount rate 13.0 11.0
Re-financing rate 15.0 13.0 GDP, pct, y/y 2007 2006 2005 2004 2003 2002 2001 2000 8.48 8.17 8.44 7.79 7.34 7.08 6.89 6.79 ____2008____ ________2007________ ________2006________ *H1 Q1 Q3 Q2 Q1 Q3 Q2 Q1 6.50 7.43 8.69 7.98 7.73 8.67 7.54 7.18 CONSUMER PRICE INDEX, pct 2007 2006 2005 2004 2003 2002 2001 2000 12.6 6.6 8.4 9.5 3.0 4.0 0.8 -0.6 __________2008___________ ____________2007_______________ *June May Apr Mar Feb Dec Nov Oct Sept Aug July June
y/y 26.8 25.2 21.4 19.4 15.7 12.6 10.0 9.3 8.8 8.6 8.4 7.8
m/m 2.1 3.9 2.2 3.0 3.6 2.9 1.2 0.7 0.5 0.6 0.9 0.9 RETAILS SALES, pct, y/y 2007 2006 2005 2004 2003 2002 2001 2000 23.3 20.9 20.5 19.4 18.8 14.5 11.3 9.7 ________2008________ ________________2007________________*Jan-June Q1 Jan-Sept Jan-June Q1 30.0 29.2 22.8 22.9 22.3 TRADE ACCOUNT, in billions of dollar 2007 2006 2005 2004 2003 2002 2001 2000-12.4 -5.06 -4.31 -5.48 -5.12 -3.04 -1.19 -1.15 ___________2008______________ __________2007______________ *June *May Apr Mar Feb Dec Nov Oct Sept June
EXP 5.50 5.95 5.09 4.70 3.42 4.70 4.55 4.28 3.73 4.14
IMP 6.80 7.85 8.31 7.00 6.19 6.30 6.17 5.63 4.96 5.41
BAL-1.30 -1.90 -3.22 -2.30 -2.77 -1.60 -1.62 -1.35 -1.03 -1.27
(Figures for the latest month are estimates) INDUSTRIAL GROWTH, pct, y/y 2007 2006 2005 2004 2003 2002 2001
Overall 17.1 17.0 17.2 16.0 16.0 14.5 14.2 ___________2008_________ ___________2007__________ *June May Apr Mar Feb Dec Nov Oct Sept June
Overall 17.1 16.7 16.8 16.4 16.1 20.7 17.4 16.7 18.1 19.5
State 6.6 4.6 13.0 5.5 12.5 12.9 10.6 11.4 11.5 15.3
Non-state 22.7 20.6 18.6 23.2 17.8 24.3 21.0 19.0 23.6 20.9
F.invested 18.8 20.8 17.3 17.2 16.6 21.3 18.0 17.7 17.1 21.1
SOURCES: General Statistics Office, ministries, the central bank FORECASTS/TARGETS
GDP, pct 2008 2007
-- Government/GSO 7.0 8.48
-- ADB 7.0 8.5
-- IMF 7.3 8.3
-- World Bank 8.0 8.5
(The Communist Party targets annual GDP growth at 7.5-8 percent
for 2006-2010, from the average 7.51 percent in 2001-2005)
CPI, pct 2008 2007
-- Government/GSO *n/a 12.6
-- ADB 18.3 8.3
-- IMF 7.7 7.3
-- World Bank 12.6 12.6
-- MPI *22.0
(Data from GSO, ADB and IMF are the average rates;
MPI: the Planning and Investment Ministry)
MONEY AND CREDIT, pct
Broad money (IMF) 33.6
Credit growth 50.0 (IMF)
-- Central bank/MPI 30.0 *53.8
-- ADB 54.0
-- World Bank 30.0 53.9
*Outstanding loans (bln dong) May 08 Apr 08 end-2007 end-2006
-- Central bank 1,278.6 1,250.5 1,080.0 702.2
Non-performing loans, pct 2007 2006
-- Central bank ~2.0 2.65
NOTE: ~ based on Vietnamese accounting standards; The rate was
5 percent if international accounting standards were used,
according to a foreign expert.
EXPORT GROWTH, pct
-- Government/GSO 20-25 21.5
-- ADB 18.7 21.5
-- World Bank 22.0 21.9
-- MPI *37.0
IMPORT GROWTH, pct
-- Government/GSO 20-25 35.5
-- World Bank 20.0 39.6
TRADE DEFICIT, in billions of dollar
-- Government 16.97 12.4
-- World Bank 15.97 14.1
-- MPI *30.0
INDUSTRIAL GROWTH, pct
-- Government 17.5 17.1
-- ADB 10.6 18.0
-- World Bank 16.8 17.1 2008 2007 2006 2005
CURRENT ACCOUNT BALANCE/GDP, pct
-- ADB -10.3 -8.0 -0.5 -1.0
-- World Bank -9.0 -9.7 -0.4 -1.1
-- IMF -13.6 -9.6
FOREIGN CURRENCY RESERVES in weeks of import
-- Central bank 20.0 12.0 10-12
-- World Bank 15.0 15.2 10.4 9.4
FOREIGN CURRENCY RESERVES, in billions of dollar
-- Government/C.bank *20.7 (June) 20.0 12.0
-- ADB (-gold) 19.93 11.42 8.6
-- IMF (+gold) 23.66 19.93 11.5 8.6
-- World Bank 22.1 21.6 11.5 8.6
(ADB estimate for 2007 is as of September)
FOREIGN DEBT, in billions of dollar
-- Fin. Ministry 20.0
-- ADB 21.3 19.5 17.4
-- World Bank 24.8 22.4 19.2 17.5
FOREIGN DEBT/GDP, pct
-- Government/Fin. Min *29.0 37.3 35.8
-- ADB 32.6 32.5
-- World Bank 30.5 31.6 31.5 32.9
FOREIGN DIRECT INVESTMENT, in billions of dollar
~2008 2007 2006 2005 2004 2003 2002 2001 2000
10.00 8.03 3.96 3.31 2.85 2.65 2.59 2.45 2.41
~: government target
MPI/GSO *June 08 *H1 2008 H1 2007
New projects 16.22 30.95 n/a
Increased capital n/a 0.66 1.20
Actual inflow n/a 5.00 3.63
OVERALL 2008 2007 2006 2005
MPI (2008: target) *35 20.3 10.2 5.89
World Bank (inflow) 5.5 2.8 2.4 2.00
FOREIGN PORTFOLIO INVESTMENT, in billions of dollar June 08 Dec 07 Sept 07 June 07 Mar 07 *8.0 7.6 6.2 5.0 4.0
POPULATION 2007 2006 2005 2004 2003 2002 2001 2000
Mlns 85.20 84.16 83.11 82.03 80.90 79.73 78.69 77.64
URBAN UNEMPLOYMENT, pct 4.64 4.82 5.31 5.60 5.78 6.01 6.28 6.42
LONG-TERM CURRENCY RATINGS Rating Outlook
Moody's (June 4, 08) Ba3 (foreign, local bonds) *Negative B1 (foreign cur. deposit ceiling)*Negative
Fitch (May 29, 08) BB- (foreign) BB (local) *Negative
S&P (May 2, 08) BB/B (foreign) BB+/B (local) Negative To access the following, click on the codes in brackets.
COUNTRY OVERVIEW EQUITY FIXED INCOME MONEY FX NEWS
Vietnam...VIETNAM...<VN/EQUITY>..<VN/DEBT>......<VND/1>...[VN]




© Thomson Reuters 2008 All rights reserved

[RICK C]

Viet Nam takes UNSC chair

(01-07-2008)

HA NOI — Viet Nam will officially begin its month-long chair of the United Nations Security Council (UNSC) from today, affirming the country’s increasing political role in settling issues of conflict that are important to international security, said the Ministry of Foreign Affairs.

Ambassador Le Luong Minh, Viet nam’s permanent representative to the UN Security Council, said the country would contribute to the council’s decisions and reflect concern on the legitimate interests of member countries and relevant agencies.

"Viet Nam is committed to contributing to the settlement of conflicts through dialogue and peaceful negotiation and respects the independence, sovereignty and territorial integrity of all countries," he said.

The ambassador said Viet Nam was prepared for its role as UNSC’s Chair. Representatives from member countries affirmed that Viet Nam would be able to make great strides in this role particularly in promoting peace and conflict resolutions.

So far this year, Libya, Panama, Russia, South Africa, the UK and the US have chaired the UNSC. Viet Nam became a UN Security Council non-permanent member on January 1 this year for the 2008-09 term.

Deputy Director of the ministry’s Press and Information Department Nguyen Phuong Nga reported that Deputy Prime Minister and Minister of Foreign Affairs Pham Gia Khiem would lead a Vietnamese delegation to take part in important activities of the UNSC and chair a high-ranking open discussion in accordance to the monthly agenda. Viet Nam would build on UNSC working programmes and agendas. It would judiciously study the different proposals put forward by various countries’ and decide which ones to entertain during the sessions.

However, the country’s role will mainly centre on procedures needed to help countries reach a joint agreement.

Viet Nam will host and manage around 40 closed and public conferences this month. To prepare for these conferences, it will carry out un-official meetings with UNSC member countries and countries related to the issue at hand as well as with organisations and individuals negotiating on matters related to UNSC drafts, declarations and resolutions.

In its capacity as the Chair the country will work with media outlets and report the outcome of UNSC’s conferences to UN member countries.

As the main representative of the UNSC, Viet Nam will also hold regular meetings with the UN Secretary General and other senior leaders of the UN’s Secretariat, the President of the UN’s General Assembly, the President of the UN’s Economic and Social Council, and those countries whose pressing issues need attention.

As Viet Nam takes the role in July, the country will gear up to prepare the UNSC’s yearly report (from July 31, 2007 to July 31, 2008) to send o the UN’s National Assembly and review the council’s activities. — VNS