Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Vietnam weakens dong by 1 pct against dollar
Reuters ^ | 06/27/2013 | Ho Binh Minh

Posted on 06/27/2013 8:23:17 PM PDT by TexGrill

HANOI, June 27 (Reuters) - Vietnam is weakening the mid-point rate for trading its currency on the interbank markets by 1 percent to 21,036 dong per dollar as of Friday, from the 20,828 level used so far this year, the central bank said.

"The adjustment is aimed at reflecting more accurately supply/demand on foreign currencies, contributing to stabilising the foreign exchange market," the State Bank of Vietnam (SBV) said in a statement late Thursday announcing the mid-point rate change.

Dollar/dong transactions can move in a band of plus or minus 1 percent around the midpoint set daily by the central bank. With the new midpoint taking effective on Friday, that means within a range of 20,826 and 21,246 dong per dollar.

The central bank had kept the mid-point rate at 20,828 since Dec. 24, 2011.

The biggest devaluation of the inconvertible dong in the past few years was on Feb. 11, 2011, when the SBV trimmed 8.5 percent off the value to counter a widening gap between official and black market rates.

Bankers said they had expected the central bank to allow the dong's depreciation due to difficulties in buying dollars on the interbank markets since late May.

"For banks, it reflects exactly what they are expecting. We could consider it good news for banks," said economist Dinh Tuan Minh at Hanoi-based Military Bank.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events
KEYWORDS: vietnameconomy
So that explains why Vientamese women prefer a real American man over a Vietnamese man.
1 posted on 06/27/2013 8:23:17 PM PDT by TexGrill
[ Post Reply | Private Reply | View Replies]

To: TexGrill

They still prefer the home-growns to North Koreans, though. In that country, the big missile is a “No-Dong.”


2 posted on 06/27/2013 8:25:42 PM PDT by FredZarguna (Separated by a common language.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TexGrill

They don’t weaken my dong. Send me one. I’m ronery.


3 posted on 06/27/2013 8:30:01 PM PDT by fieldmarshaldj (Resist We Much)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TexGrill

A weak dong is no dong.


4 posted on 06/27/2013 8:32:32 PM PDT by Wiggins
[ Post Reply | Private Reply | To 1 | View Replies]

To: TexGrill

“You got girl ‘fren Vietnam”? From ‘Full Metal Jacket’ of course!!


5 posted on 06/27/2013 8:36:36 PM PDT by bobby.223 (Retired up in the snowy mountains of the American Redoubt and it's a GREAT life!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Wiggins

6 posted on 06/27/2013 8:37:02 PM PDT by fieldmarshaldj (Resist We Much)
[ Post Reply | Private Reply | To 4 | View Replies]

To: bobby.223

7 posted on 06/27/2013 8:38:12 PM PDT by fieldmarshaldj (Resist We Much)
[ Post Reply | Private Reply | To 5 | View Replies]

To: TexGrill

Dong?

Si Robertson explains his Vietnamese dong(57 sec video - Youtube)

8 posted on 06/27/2013 8:40:39 PM PDT by haffast (Books serve to show a man that those original thoughts of his aren't very new at all. -Abe Lincoln)
[ Post Reply | Private Reply | To 1 | View Replies]

To: fieldmarshaldj

i bet thailand doesn’t have weak dongs.


9 posted on 06/27/2013 8:46:14 PM PDT by bravo whiskey (We should not fear our government. Our government shoud fear us.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: bobby.223

Yep!! “Me suckee-suckee. Me love you to much”. Great movie huh?


10 posted on 06/27/2013 9:08:53 PM PDT by bobby.223 (Retired up in the snowy mountains of the American Redoubt and it's a GREAT life!)
[ Post Reply | Private Reply | To 5 | View Replies]

To: TexGrill

The Donger need food!
11 posted on 06/27/2013 9:11:08 PM PDT by Jack Hydrazine (I’m not a Republican, I'm a Conservative! Pubbies haven't been conservative since before T.R.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TexGrill

Dude, you should never do anything to weaken your dong!

12 posted on 06/27/2013 10:56:49 PM PDT by Free Vulcan (Vote Republican! You can vote Democrat when you're dead...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TexGrill

Video of strong dong man.

http://www.ebaumsworld.com/video/watch/653731/


13 posted on 06/28/2013 4:02:55 AM PDT by Right Wing Assault (Dick Obama is more inexperienced now than he was before he was elected.)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson