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 ...
I think it translates into Large Richard Bar and Grill...
“Vien Dong” means “far east” in Vietnamese
I hate it when my dong crashes.
Bawney wants to.
Thanks.
So does the word used for currency mean ‘east’ or ‘far’ or is it just a homonym?
Thank you for the lesson. Sounds like a different word altogether in spite of the transliteration to the same characters in english.
In short, yes. Western news agencies usually drop the diacritic and tone marks when writing Vietnamese words for the sake of simplicity.
Stimulus efforts failed - the dong has fallen?
Vietnamese economy trips over dragging dong?
Strong dong long gone?
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