Vietnam: Where are the dollars?

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

After the state bank put downward pressure on the traditionally-high US dollar to Viet Nam dong exchange rate, the American currency’s recent rise has seen US notes go into hiding in Viet Nam.

Commercial banks are using their dollars sparingly.

Though they have raised the interest rate on dollar deposits up to 6% a year, many commercial banks still find themselves lacking US currency.

Although importers are willing to pay more than the official rate to get dollars, some banks do not have enough of the US currency to sell...

Full story: http://www.vnbusinessnews.com/2008/05/where-are-dollars.html

rffrydr · Posted: Tue Jun 03, 2008 9:29 am Post subject:

Vietnam equities down 19 consecutive days. Watch EEM.
_________________
Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Tue Jun 03, 2008 8:31 pm Post subject:

The vietnam inflation story may be leveling off:

http://vietnamnews.vnagency.com.vn/showarticle.php?num=02ECO030608

Note how much of this is culture-specific. Few economists could have warned of this.
_________________
Today is the Tomorrow you worried about Yesterday!