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Footforward -- we want you to revalue your currency now.
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Footforward -- we want you to revalue your currency now.
by Ponee Thu Jul 22, 2021 9:05 pm
Footforward
Article: "Joint Statement from the U.S. Department of the Treasury and the State Bank of Vietnam" Article quote: "The SBV is also making ongoing efforts to further modernize and make more transparent its monetary policy and exchange rate framework. In support of these efforts, the SBV will continue to improve exchange rate flexibility over time, allowing the Vietnamese dong to move in line with the stage of development of the financial and foreign exchange markets and with economic fundamentals, while maintaining macroeconomic and financial market stability." Translation...we want you to revalue your currency now.
Article: "Joint Statement from the U.S. Department of the Treasury and the State Bank of Vietnam" Article quote: "The SBV is also making ongoing efforts to further modernize and make more transparent its monetary policy and exchange rate framework. In support of these efforts, the SBV will continue to improve exchange rate flexibility over time, allowing the Vietnamese dong to move in line with the stage of development of the financial and foreign exchange markets and with economic fundamentals, while maintaining macroeconomic and financial market stability." Translation...we want you to revalue your currency now.
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Re: Footforward -- we want you to revalue your currency now.
by Sam I Am Sat Jul 24, 2021 3:00 am
Hogwash. They're discussing exchange rate policy and nothing more. FF can't grasp that. If you look at the chart the dong has been flat for nearly three years.
https://www.xe.com/currencycharts/?from=VND&to=USD&view=5Y
Prior to that they were following a policy of slow, methodic devaluation in a strategy to stimulate their economy by encouraging foreign trade. Apparently they now want to return to that policy, so I suspect that you will see the dong's value go lower by the end of the year or maybe early next year.
https://www.xe.com/currencycharts/?from=VND&to=USD&view=5Y
Prior to that they were following a policy of slow, methodic devaluation in a strategy to stimulate their economy by encouraging foreign trade. Apparently they now want to return to that policy, so I suspect that you will see the dong's value go lower by the end of the year or maybe early next year.
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