Quote:
Originally Posted by
Maddawg
I think it will be around .06 but I dont think it is going to RV anytime real soon. Maybe Jan. 08 or later.
Spoiledred,
The below comment would indicate against a Jan 08 RV. Would it not?
The central bank has said it no longer has a fixed target for the value of the dong for the end of 2007, but it would ensure the dong's value is on par with other currencies.
Vietnam latest news - Thanh Nien Daily
Ok that is part of the quote:
On Monday, the head of the central bank's foreign exchange department, Phi Dang Minh, was quoted by state media as saying the additional funds would be used to purchase U.S. dollars on the market to weaken the dong.
The central bank has said it no longer has a fixed target for the value of the dong for the end of 2007, but it would ensure the dong's value is on par with other currencies.
On Monday, the central bank set the dollar exchange rate at VND16,110, nine dong weaker than VND16,101 at the end of 2006.
Ok this is what I see in this statement. in 6 months the dong weakend 9 dong. Thats not a big change and that is not in the right directioin either. Why do they want to weaken the Dong? Wouldn't they want to strengthen it? Another question what is ment by it is on par with other currencies. That is talking in the present tense not the future. If they are saying right now the dong is on par that is not what I want to hear, I want like anyone else the dong to get strong and RV. I would love to see things change!