Vietnam Currency Discussion Board

[RICK C]

THIS PART is very INTERESTING---------------
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Importers pay more

In face of the higher exchange rate, companies involved in imports said they were paying significant additional charges for their shipments.

The owner of a company specialising in imported milk powder said his company often buys milk materials from a monopoly distributor of a New Zealand firm.

"Under the signed contract, we have to pay in Vietnamese dong according to the market’s exchange rate, so the current increase in the dong-US dollar exchange rate means financial difficulties," he said.

Market analysts also said that the increase in the value of the US dollar has affected the price of most imported goods and companies that import raw materials for producing and selling domestically would suffer the most. — VNS