Latest topics
VIETNAM - Jan 05: Central Bank Quotes Dollar At VND20,828
3 posters
Page 1 of 1
VIETNAM - Jan 05: Central Bank Quotes Dollar At VND20,828
by lexie Thu Jan 05, 2012 3:12 pm
January 5, 2012
Vietnam's central bank set the U.S. dollar's exchange rate at VND20,828 Thursday, unchanged from Wednesday.
Currency dealers said rates in the interbank market were little changed after state-run Vietnam Television broadcast an interview late Wednesday with central bank Governor Nguyen Van Binh, who said that Vietnam posted its first current account surplus of $2.5 billion in 2011 after recording many years of deficit.
At the same time, a dealer with Hanoi-based Eximbank said the supply of the U.S. dollar is increasing slightly in the local market during this period as large numbers of overseas Vietnamese are returning to celebrate the traditional Lunar New Year holiday later this month. They have brought back significant volumes of the greenback, he said.
"Usually, dollar prices are relatively stable in January as the supply is higher than other months of the year. Vietnamese return for a holiday by the thousands after a year of hard work in countries such as the U.S., Canada, Australia and France," said the dealer.
According to state media, overseas Vietnamese remitted about $9 billion in 2011, up from $8 billion in 2010.
http://www.vietfinancenews.com/2012/01/jan-05-central-bank-quotes-dollar-at.html#more
Vietnam's central bank set the U.S. dollar's exchange rate at VND20,828 Thursday, unchanged from Wednesday.
Currency dealers said rates in the interbank market were little changed after state-run Vietnam Television broadcast an interview late Wednesday with central bank Governor Nguyen Van Binh, who said that Vietnam posted its first current account surplus of $2.5 billion in 2011 after recording many years of deficit.
At the same time, a dealer with Hanoi-based Eximbank said the supply of the U.S. dollar is increasing slightly in the local market during this period as large numbers of overseas Vietnamese are returning to celebrate the traditional Lunar New Year holiday later this month. They have brought back significant volumes of the greenback, he said.
"Usually, dollar prices are relatively stable in January as the supply is higher than other months of the year. Vietnamese return for a holiday by the thousands after a year of hard work in countries such as the U.S., Canada, Australia and France," said the dealer.
According to state media, overseas Vietnamese remitted about $9 billion in 2011, up from $8 billion in 2010.
http://www.vietfinancenews.com/2012/01/jan-05-central-bank-quotes-dollar-at.html#more
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24
Re: VIETNAM - Jan 05: Central Bank Quotes Dollar At VND20,828
by landcareunlimited Thu Jan 05, 2012 10:11 pm
It should be noted that while similarities exist between the VND and the IQD situations, Vietnam simply does not have vast natural resources that Iraq posesses, so there it is highly unlikely the VND would ever reach even remotely similar values unless massive precious metal, diamond or oil reserves are discovered.
landcareunlimited- Elite Member
- Posts : 348
Join date : 2011-11-03
Location : Arizona
Re: VIETNAM - Jan 05: Central Bank Quotes Dollar At VND20,828
by 1alaskan Fri Jan 06, 2012 6:06 pm
I think at this time the biggest resource that thye have is cheap labor.
I have news pieces about China building factories there to take advantage of that.
I have news pieces about China building factories there to take advantage of that.
*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant
Yesterday would have been better, but today is a good day
Remember as always, JMHO
Rantings from just north of sixty
1alaskan- Elite Member
- Posts : 4668
Join date : 2011-06-21
Age : 41
Location : Planet far far away
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Phony Tony sez: Full Steam Ahead!
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
» Russia aren't taking any prisoners
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
» ZIGPLACE
» CBD Vape Cartridges
» Classic Tony is back
» THE MUSINGS OF A MADMAN
» Minister of Transport: We do not have authority over any airport in Iraq
» Did Okie Die?
» Hello all, I’m new
» The Renfrows: Prophets for Profits, Happy Anniversary!
» What Happens when Cancer is treated with Cannabis? VIDEO
» An Awesome talk between Tucker and Russell Brand
» Trafficking in children
» The second American Revolution has begun, God Bless Texas
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
» Tucker talking Canada
» Almost to the end The goodguys are winning