Dong and Dinar same time??

Ive been a part of this madness long enough IMHO to post. Many a times we collectively aggreed that the Dong and Dinar should (if they were going to at all it seems as of recently) RV at the same time. Well if this is the case, then this should be of some interest. Any takers on what this could mean?

Ha Noi (VNA) - Deputy Trade Minister Luong Van Tu called ASEAN\'s
decision to grant Viet Nam full market economy status the correct
course of action and a just reward for a country intent creating a
fair and level playing field for all businesses operating within the
country. Tu told the Tin Tuc (News) daily on May 4 that, ASEAN\'s
recognition was proof of Viet Nam\'s massive shift towards free trade
and an open economy under World Trade Organisation\'s rules and that
the granting of full market economy status would help in persuading
other countries to follow the same course. "China and Viet Nam have
granted full market economy status to each other while the Republic of
Korea has recognised Viet Nam as a market-oriented economy. "Viet Nam
is also in negotiations with EU partners for recognition of this
status, and we are hopeful that it will be granted soon," said Tu. The
Association of Southeast Asian Nations (ASEAN) has granted Viet Nam
full market economy status, hailing the country\'s progress on economic
development and its integration into the global economy.


i got this letter from nammoney.com and in no way am i affiliated with them or trying to sell anything. lets just get that clear right off the bat.

thanks

Quote:

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Originally Posted by Trogdor

Ive been a part of this madness long enough IMHO to post. Many a times we collectively aggreed that the Dong and Dinar should (if they were going to at all it seems as of recently) RV at the same time. Well if this is the case, then this should be of some interest. Any takers on what this could mean?

Ha Noi (VNA) - Deputy Trade Minister Luong Van Tu called ASEAN\'s
decision to grant Viet Nam full market economy status the correct
course of action and a just reward for a country intent creating a
fair and level playing field for all businesses operating within the
country. Tu told the Tin Tuc (News) daily on May 4 that, ASEAN\'s
recognition was proof of Viet Nam\'s massive shift towards free trade
and an open economy under World Trade Organisation\'s rules and that
the granting of full market economy status would help in persuading
other countries to follow the same course. "China and Viet Nam have
granted full market economy status to each other while the Republic of
Korea has recognised Viet Nam as a market-oriented economy. "Viet Nam
is also in negotiations with EU partners for recognition of this
status, and we are hopeful that it will be granted soon," said Tu. The
Association of Southeast Asian Nations (ASEAN) has granted Viet Nam
full market economy status, hailing the country\'s progress on economic
development and its integration into the global economy.


i got this letter from nammoney.com and in no way am i affiliated with them or trying to sell anything. lets just get that clear right off the bat.

thanks

---

This time, allow me to make some highlights!
This calls for the dancing banana!:banana:

ooo tell me i did something good! like i helped or something!! yay

Thanks for posting this. I have recently acquired 8M and wondering if I should round it up to 10M. It would be great if they went first so I could acquire more IQD. They seem to be moving along quickly. Didn't they just become full-fledged WTO members?

well at first long ago, dinar was going by itself. then a few months ago they were going same time. then a month ago, dong was going first, then same time. now it seems like they are going first again, which will allow double dipping. if the WTO still wont allow, it seems they will both be going very soon. The dong is being accepted by most asian countries and is pushing for more. Looks like the dinar has some big ground to cover soon. either way = money. i just cant wait until we are all saying "remember those few years we had to wait when we were kids"? ^_^

I have 5 mil VND. What is the general feeling right now about this? I have no idea what to expect but it is all exciting.

Chris

last i heard it was supposed to go .01 - .05 but let me remind everyone, this was supposed to be a "is it going at the same time" thread. i hope this dosent turn into a dong only thread....

Vietnam has left Iraq in the dust as far as moving along with its political and economic plans. I would expect the Dong to out-perform the Dinar every step of the way.

out-perform i agree, but will the dong rv before the dinar is what i was after.

Thanks for the answer, now let me try to get back on point. From what I have read, it certainly seems possible that the Dong will go before the Dinar. Let's hope that they both go soon! I read a very positive article on Bloomberg.com (sorry no link but I'll see if I can find it in my history). It was basically singing the praises of Vietnam's economy and calling the country the fastest growing in the region.

Quote:

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Originally Posted by Pegasus

Thanks for posting this. I have recently acquired 8M and wondering if I should round it up to 10M. It would be great if they went first so I could acquire more IQD. They seem to be moving along quickly. Didn't they just become full-fledged WTO members?

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Yes, but under non-market status meaning their currency didnt have to be convertible. Under full-market status it does.

Cheers!
DayDream

Quote:

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Originally Posted by DayDream

Yes, but under non-market status meaning their currency didnt have to be convertible. Under full-market status it does.

Cheers!
DayDream

---

Thank you - I see I still have a good bit to learn! :bow:

Quote:

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Originally Posted by Pegasus

Thanks for posting this. I have recently acquired 8M and wondering if I should round it up to 10M. It would be great if they went first so I could acquire more IQD. They seem to be moving along quickly. Didn't they just become full-fledged WTO members?

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Vietnam became a member of the WTO on Jan. 9, 2007. I also think the dong will hit before the dinar. I bought my dong the next day after I read about Vietnam becoming a member. My question is this, will we have to hold 366 days for STCG?

mewannapeg

sorry STCG?

Quote:

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Originally Posted by Trogdor

sorry STCG?

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I'm becoming an expert on abbreviations!!

Short term capital gains!:cheers:

Quote:

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Originally Posted by mewannapeg

Vietnam became a member of the WTO on Jan. 9, 2007. I also think the dong will hit before the dinar. I bought my dong the next day after I read about Vietnam becoming a member. My question is this, will we have to hold 366 days for STCG?

mewannapeg

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Unless it is planned that they both revalue at the same time...

Quote:

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Originally Posted by Trogdor

Ive been a part of this madness long enough IMHO to post. Many a times we collectively aggreed that the Dong and Dinar should (if they were going to at all it seems as of recently) RV at the same time. Well if this is the case, then this should be of some interest. Any takers on what this could mean?

Ha Noi (VNA) - Deputy Trade Minister Luong Van Tu called ASEAN\'s
decision to grant Viet Nam full market economy status the correct
course of action and a just reward for a country intent creating a
fair and level playing field for all businesses operating within the
country. Tu told the Tin Tuc (News) daily on May 4 that, ASEAN\'s
recognition was proof of Viet Nam\'s massive shift towards free trade
and an open economy under World Trade Organisation\'s rules and that
the granting of full market economy status would help in persuading
other countries to follow the same course. "China and Viet Nam have
granted full market economy status to each other while the Republic of
Korea has recognised Viet Nam as a market-oriented economy. "Viet Nam
is also in negotiations with EU partners for recognition of this
status, and we are hopeful that it will be granted soon," said Tu. The
Association of Southeast Asian Nations (ASEAN) has granted Viet Nam
full market economy status, hailing the country\'s progress on economic
development and its integration into the global economy.


i got this letter from nammoney.com and in no way am i affiliated with them or trying to sell anything. lets just get that clear right off the bat.

thanks

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i posted that article in the dong news section today. :biggrin:

i hope not, I would like to try and "double dip", I believe the term is (wait for the dinar to rv then purchase some).

does anyone giggle with they say this currency name aloud. just being a little childish.

yea sorry thats where i shoulda put it too, but i was wondering if people still think its going at the same time, or will the dong beat the dinar to the ol finish line. all i hear from iraq is delay delay delay. seemingly with all the news, vietnam is really pushing for their reval. i understand the whole wto against double dipping, but how long will vietnam actually wait for iraq to get their crap together?

HJow could anyone prevent double dipping?
We cash in dinar and buy dong from banks or dealers.
What's the pro?

Quote:

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Originally Posted by Chris&Dana

Thanks for the answer, now let me try to get back on point. From what I have read, it certainly seems possible that the Dong will go before the Dinar. Let's hope that they both go soon! I read a very positive article on Bloomberg.com (sorry no link but I'll see if I can find it in my history). It was basically singing the praises of Vietnam's economy and calling the country the fastest growing in the region.

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here ya go!:banana: :party: :banana:
Around the Markets: Currency is Vietnam's new lure - International Herald Tribune

Around the Markets: Currency is Vietnam's new lure

http://img.iht.com/images/dot_h.gif
By Ron Harui and Oliver Biggadike Bloomberg News
Published: April 23, 2007

http://img.iht.com/images/articletoo...n_at_email.gif E-Mail Article

SINGAPORE: Vietnam's currency is starting to capture the attention of derivatives traders as Southeast Asia's fastest-growing economy accelerates.


DBS Group Holdings and Australia & New Zealand Banking Group have begun offshore trading in contracts tied to the future value of the currency, the dong. The $50 million of Vietnamese contracts that trade monthly may double in a year, Standard Chartered estimates. More than $1 billion of Chinese yuan forwards change hands daily in an overseas market that did not exist 15 years ago, HSBC Holdings said.

Prime Minister Nguyen Tan Dung of Vietnam loosened currency controls this year and announced plans to increase sales of state-owned assets. The new currency market gives investors more opportunities to bet on an economy that expanded at a 7.7 percent annual rate in the first quarter and may grow 8.3 percent this year, according to the Asian Development Bank.

"You can't imagine the amount of money going into Vietnam," said Peter Soh, head of foreign exchange in Singapore at DBS, Southeast Asia's biggest bank. "Everyone thinks Vietnam will follow China's path. The dong must strengthen."

Vietnam's benchmark stock index is up 29 percent so far in 2007, after gaining 145 percent in 2006, the world's best performance. The economy is the fastest among the six biggest in Southeast Asia.

Investors need derivatives to trade the currency because the government only allows them to buy dong for specific purposes, such as investing in stocks or building factories. The contracts are settled in dollars.
"It's very positive," and is in line with government goals of having the currency trade overseas, State Bank of Vietnam's deputy governor, Phung Khac Ke, said in an interview in Hanoi. "It shows international investors are more and more interested in Vietnam."

The central bank's support coincides with Dung's plans to open the economy. Dung, 57, became prime minister in June and last week approved a $1 billion sale of government bonds, the largest ever. The Communist Party this year told three of the four biggest state banks to prepare for initial public offerings.

Vietnam this year ended a decade-long policy of "managed devaluation" that caused the dong to weaken 30 percent. The currency gained 0.7 percent between Nov. 22 and Feb. 21. It has since fallen 0.4 percent to 16,041.05 per dollar as regulators curbed borrowing for stock market investment.

Three-month, nondeliverable forward contracts trade at 16,111 to the dollar, data compiled by Bloomberg found. The prices take into account higher interest rates in Vietnam as well as the expectations among traders for dong movements.

The central bank will "keep the dong stable, in a flexible manner, so that it can help our exports," Phung said. Traders may be "turned off" by the central bank's support for gradual depreciation, said Sean Callow, a senior currency strategist in Singapore at the Sydney-based Westpac Banking. State controls may limit swings in the currency and opportunities to profit, he said.

Investors are still "testing the water" in Vietnam, said Amy Auster, head of international economics at the Melbourne-based ANZ Bank, which owns stakes in two Vietnamese banks.

Derivatives are financial instruments derived from stocks, bonds, loans, currencies and commodities, or linked to specific events like changes in the weather or interest rates.

Trading in the futures may increase once banks introduce a standardized contract for the dong by early June, DBS said in an e-mail. Between 15 and 20 banks in Singapore and five brokers may be interested in the market, DBS said. The central bank doubled the daily limit on dong moves against the dollar to 0.5 percent this year.

"Vietnam is the next market in Asia to look at," said Greg Clinton, global head of interest rate derivatives in Singapore at Standard Chartered, a London-based bank that makes two-thirds of its profit in Asia. "It's booming but it has currency restrictions, and that gives rise to a nondeliverable market."

Forwards are agreements to buy assets at a later specified date. A nondeliverable forward is typically settled in dollars and involves no physical exchange of other currencies.

Quote:

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Originally Posted by Trogdor

ooo tell me i did something good! like i helped or something!! yay

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I only purchased 3 mil Dong. don't think I will get rich off of that, but what will be nice if and when something happens is I can cushion my pockets just a little and feel free to buy more Dinar if I want. I think more that I will just sit on what I have and see if anything ever comes of it. I would just like something to happen. this summer would be real nice. :thumbsup:thats not asking to much is it?:waiting::waiting::waiting:

Quote:

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Originally Posted by Spoiledred

I only purchased 3 mil Dong. don't think I will get rich off of that, but what will be nice if and when something happens is I can cushion my pockets just a little and feel free to buy more Dinar if I want. I think more that I will just sit on what I have and see if anything ever comes of it. I would just like something to happen. this summer would be real nice. :thumbsup:thats not asking to much is it?:waiting::waiting::waiting:

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Sounds like a plan!
:blueh:

got to have something! I woke up and its a cruel hard world out there! My husband mae a mistake and said when we get rich, I had to immediately correct him! I said when "I" get rich! LOL:wigged::wigged::wigged::banana::banana:

:biggrin: Aaawwww... it was alleged...that Eve was the one who actually held the apple... :noserious

Thanks for finding that article for me. I was too busy watching the Mayweather/De La Hoya fight last night to look. (Good fight btw). The article seems very positive, yes?

Quote:

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Originally Posted by Chris&Dana

Thanks for finding that article for me. I was too busy watching the Mayweather/De La Hoya fight last night to look. (Good fight btw). The article seems very positive, yes?

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I thought the Golden Boy retired to spend more time in the sack with his trophy wife? He must have missed the limelight too much, LOL. I always liked Oscar.

Quote:

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Originally Posted by Xman1

HJow could anyone prevent double dipping?
We cash in dinar and buy dong from banks or dealers.
What's the pro?

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if they reval at the same time, there can be no double dipping. i believe that was the WTO first intent. if it still is, then is also seems that the dinar should be about to RV soon, since with the all the new news on dong pushing for an RV. If they let Vietnam go first, then you could cash in the profits from the dong and invest right back into dinar. Lets say you only have about 300 bucks a month to invest into dinar. rougly, i know its different for everyone. now factor in a 80k profit from dong, since you have been buying that as well. we all think we will be rich off our 10-50 million dinar, and rightfully so. then all of a sudden we throw down an additional 80k into dinar, and look out gates here we come! it would create mass ammounts of people with stupid ammounts of cash. = why a lot of people agree that the WTO wouldnt allow such a thing.

this means that even though the dinar and iraq looks very slow at times, we can actually expect it soon, since the dong seems to be going to RV soon as well. I dont have times, or ammounts, obviously, but if they are going to RV at the same time and you want to know what the dinar will RV... just look into the news with the dong and youll get a good indicator of when they will both go down. Of course i would perfer to cash in dong and wait a year for the dinar to RV for a much bigger turn out, but i really dont think that the WTO is going to let us do that. just my 2 cents. anyone else agree or disagree?

Quote:

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Originally Posted by Trogdor

if they reval at the same time, there can be no double dipping. i believe that was the WTO first intent. if it still is, then is also seems that the dinar should be about to RV soon, since with the all the new news on dong pushing for an RV. If they let Vietnam go first, then you could cash in the profits from the dong and invest right back into dinar. Lets say you only have about 300 bucks a month to invest into dinar. rougly, i know its different for everyone. now factor in a 80k profit from dong, since you have been buying that as well. we all think we will be rich off our 10-50 million dinar, and rightfully so. then all of a sudden we throw down an additional 80k into dinar, and look out gates here we come! it would create mass ammounts of people with stupid ammounts of cash. = why a lot of people agree that the WTO wouldnt allow such a thing.

this means that even though the dinar and iraq looks very slow at times, we can actually expect it soon, since the dong seems to be going to RV soon as well. I dont have times, or ammounts, obviously, but if they are going to RV at the same time and you want to know what the dinar will RV... just look into the news with the dong and youll get a good indicator of when they will both go down. Of course i would perfer to cash in dong and wait a year for the dinar to RV for a much bigger turn out, but i really dont think that the WTO is going to let us do that. just my 2 cents. anyone else agree or disagree?

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Authorities could care less about " double dipping ".
Anybody right at this moment can invest a million or billion dollars in any currency. It is a drop in a bucket compared to BIG picture.

:biggrin:

i agree-double dipping is a red herring.

Thanks, I think we are on the same track. --No direct control of the transactions.