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Vietnamese Hoarding U.S. Dollars As Dong Crashes Post-Emergency Devaluation
The Business Insider ^
| 2-11-2010
| Vincent Fernando
Posted on 02/10/2010 9:09:47 PM PST by blam
Vietnamese Hoarding U.S. Dollars As Dong Crashes Post-Emergency Devaluation
Vincent Fernando
Feb. 11, 2010, 12:01 AM
Vietnam's currency, the dong, is crashing after the government was forced to devalue it by 3.4% against the U.S. dollar for the second time in under three months.
The new fixed rate for the currency is 18,544 dong per dollar, versus 17,941 previously. The central bank also imposed a 1% ceiling on interest rates for dollar deposits at banks in a bid to disincentive the hoarding of dollars.
Yet the black market thinks that the government will have to slash the dong's exchange rate even further:
[snip]
(Excerpt) Read more at businessinsider.com ...
TOPICS: News/Current Events
KEYWORDS: asia; devaluation; dong; money; vietnam
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1
posted on
02/10/2010 9:09:47 PM PST
by
blam
To: blam
Looks like the dong is getting badly dinged.
2
posted on
02/10/2010 9:11:25 PM PST
by
HiTech RedNeck
(I am in America but not of America (per bible: am in the world but not of it))
To: blam
Nothing worse than a limp dong!
3
posted on
02/10/2010 9:12:40 PM PST
by
aquila48
To: blam
Well, I’ll be the first, then...
It looks like the dollar buys a lot of Vietnamese dongs. Not sure why anyone would want so many dong hanging around, though.
:-P
4
posted on
02/10/2010 9:12:42 PM PST
by
gogogodzilla
(Live free or die!)
To: aquila48
I wouldn’t invest in dongs in the first place. Vulnerable to inflation. Too many ups and downs.
parsy, who leaves dongs to other people
5
posted on
02/10/2010 9:15:18 PM PST
by
parsifal
(Abatis: Rubbish in front of a fort, to prevent the rubbish outside from molesting the rubbish inside)
To: blam
Okay I’ll open this target rich thread with “ apparently the Dong has been Dinged”...next
6
posted on
02/10/2010 9:15:24 PM PST
by
hatfieldmccoy
(The Obama beat down of America continues)
To: blam
When the dong inflates many people will get screwed.
7
posted on
02/10/2010 9:19:01 PM PST
by
posterchild
(Endowed by my Creator with certain unalienable rights.)
To: blam
Should they try pumping some Viagra into the system?
8
posted on
02/10/2010 9:20:29 PM PST
by
LostInBayport
(2010 - The Second American Revolution. The first shot was fired 1/19/2010 -- here in Massachusetts!)
To: posterchild
So should one be long in the Dong?
9
posted on
02/10/2010 9:21:17 PM PST
by
hatfieldmccoy
(The Obama beat down of America continues)
To: blam
First North Korea now this. things are not going too good in the communist world. Ex China of course.
10
posted on
02/10/2010 9:22:10 PM PST
by
CPT Clay
(Pick up your weapon and follow me.)
To: blam
Let me see if i have this right? dong -> dollar -> dung.
11
posted on
02/10/2010 9:23:35 PM PST
by
JoSixChip
(HOPE = Have Obumber Prove Eligibility)
To: hatfieldmccoy
If not you need to cover your shorts.
12
posted on
02/10/2010 9:23:37 PM PST
by
posterchild
(Endowed by my Creator with certain unalienable rights.)
To: blam
Hey Charlie, this is what you fought for.
13
posted on
02/10/2010 9:24:38 PM PST
by
dfwgator
To: posterchild
I knew this thread would be a hoot!!
14
posted on
02/10/2010 9:26:07 PM PST
by
hatfieldmccoy
(The Obama beat down of America continues)
Comment #15 Removed by Moderator
To: hatfieldmccoy
"I knew this thread would be a hoot!!" Don't we have a FReeper named Ding Dong Daddy From Dumas? Or something like that.
16
posted on
02/10/2010 9:30:20 PM PST
by
blam
To: blam
17
posted on
02/10/2010 9:31:09 PM PST
by
JRios1968
(The real first rule of Fight Club: don't invite Chuck Norris...EVER)
To: hatfieldmccoy
In Lincoln, NE there used to be a fairly good but modest vietnamese restaurant called ‘vien dong’ (under a different name now). I wonder what the whole name means.
18
posted on
02/10/2010 9:35:03 PM PST
by
posterchild
(Endowed by my Creator with certain unalienable rights.)
To: blam
Paging Ding Dong Daddy From Dumas..white courtesy phone..Mr.Dong Daddy white courtesy phone...
19
posted on
02/10/2010 9:36:21 PM PST
by
hatfieldmccoy
(The Obama beat down of America continues)
To: blam
“Finance Minister Long Wang said ‘Gung Ho’ to High Dong in Haiphong”.
20
posted on
02/10/2010 9:39:18 PM PST
by
rfp1234
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