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Vietnam dong will be stabilized in 2012: HSBC

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Vietnam dong will be stabilized in 2012: HSBC

Post  lexie on Mon Feb 20, 2012 9:54 am

February 20, 2012

Vietnam dong will be stabilized in 2012: HSBC

The Hongkong and Shanghai Banking Corporation (HSBC) has predicted that the weaker import demand and a controlled weakening of the exchange rate by the SBV will help stabilise the Vietnam dong (VND) in 2012.

According to HSBC’s "Vietnam 2012 Outlook: Some progress, but patience required" report which was released on February 20, inflation is easing and expected to reach single digits by the end of this year.

However, the report says, Vietnam will see growth slowing, due to more cautious spending and weaker exports in 2012.

In contrast to 2011, which began with a sharp weakening of the currency, high inflation, and several tightening measures, 2012 will be more stable thanks to the slower inflation, better management of the macroeconomic policy by the new Governor of the State Bank of Vietnam, and improved trade and fiscal positions, says HSBC.

The leading banking corporation has also predicted that 2012 trade deficit will stabilize at US$10.1 billion (versus US$9.8 billion in 2011) and the consolidated government balance is expected to decelerate to 3.8 percent from 3.9 percent last year.

For example, the VND has stabilized in recent months. The VND usually comes under a lot of pressure during the Lunar New Year festival (Tet), this did not happen in 2011 for several reasons including imports growing more slowly than exports and the remittances being robust; the SBV daily raising reference rate and allowing the VND to gradually depreciate, as well as intervening when the spread widened; many companies accelerating the pace of their USD loan payments; and the increasing demand for VND during the Lunar New Year due to seasonality factors and the merging of three small banks (De Nhat Commercial Bank, Tin Nghia Bank, and Saigon Commercial Bank).

HSBC is optimistic about Vietnam’s monetary policy in 2012 as SBV Governor Nguyen Van Binh is doing his best to fulfill his promise.




http://www.vietfinancenews.com/2012/02/vietnam-dong-will-be-stabilized-in-2012.html#more

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  songbird8 on Mon Feb 20, 2012 2:34 pm

Can you give examples of what the Dong's rate will look like on Forrex screens after RV? Is the latest prediction still around .15 - .20?
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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  1alaskan on Mon Feb 20, 2012 4:48 pm

Lets make it easy,

If the VND goes up to worth 1 cent to a USD, the FOREX sites would be about:

101/99, the buy and sell rate.


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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  bigdaddytim on Mon Feb 20, 2012 4:48 pm

@songbird8 wrote:Can you give examples of what the Dong's rate will look like on Forrex screens after RV? Is the latest prediction still around .15 - .20?

Can anyone give examples of anything remotely resembling an rv of any kind?

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  dinarstar on Mon Feb 20, 2012 5:50 pm

@bigdaddytim wrote:
@songbird8 wrote:Can you give examples of what the Dong's rate will look like on Forrex screens after RV? Is the latest prediction still around .15 - .20?

Can anyone give examples of anything remotely resembling an rv of any kind?

yes...oom!! hemademe bigsmile

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  bigdaddytim on Mon Feb 20, 2012 5:57 pm

Let me tell ya', the dinar must be used for toilet paper in Iraq! I have a friend in Iraq that sent me four 25 Dinar bills in the mail last week. Two of them had Sadam's picture and two of them had the horses on the front. If they are giving it away, it must be really, really cheap!

I'll send them back if we could just get an rv!!!

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  Kevind53 on Mon Feb 20, 2012 6:00 pm

@bigdaddytim wrote:Let me tell ya', the dinar must be used for toilet paper in Iraq! I have a friend in Iraq that sent me four 25 Dinar bills in the mail last week. Two of them had Sadam's picture and two of them had the horses on the front. If they are giving it away, it must be really, really cheap!

I'll send them back if we could just get an rv!!!

If I remember correctly those old "Saddam" bills are now as worthless as ... no make it more worth less than TP cause you wouldn't want to wipe with them!

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  dinarstar on Mon Feb 20, 2012 6:07 pm

You are correct Kevin.
They were replaced by the dinar in circulation,and in our hands,today.
I guess some may hold on to the old Saddam notes for a collection,much the same as the Zimbabwe currency,but that is about it.
RV...we will know soon enough.
When it happens,it happens,and that is about as good as the intel gets.
IMO of course Smile

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  1alaskan on Mon Feb 20, 2012 7:52 pm

The Saddam Notes will for your great grandkids maybe will be worth something. But after his fall, they changed the money,

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  bigdaddytim on Mon Feb 20, 2012 9:09 pm

Yes, I am aware of the change in currency. But, giving away the 25 dinar horses means pretty much worthless paper. Why would they give away something that THEY believe would be worth over a hundred bucks any time soon??
Just have to believe the Iraqi people don't have much faith in an RV, RI, whatever.

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  Kevind53 on Mon Feb 20, 2012 11:50 pm

The 25 dinar horses is also a Saddam era bill and of no monetary value at this time.
http://en.wikipedia.org/wiki/Iraqi_dinar

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Re: Vietnam dong will be stabilized in 2012: HSBC

Post  Sooner Patriot on Tue Feb 21, 2012 12:20 am

Exchange rate is:

.15 shows up on Forex as 6.67

.20 shows up on Forex as 5.00

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