Thread: HSBC in Vietnam (Yogi's input is much Appreciated)

Okay guys, once the NID revalues (hopefully this week) I would like to look at a long-term investment with the VD. Hopefully not near the stress as with the NID. I will still be holding on to some dinar but looking at the dong to kind of put away in a safety deposit box for the future as it will probably do a slow but steady upward trend. I was wondering how you find a dealer.

I am also looking for a little investment in the Dong but have trouble finding a good dealer.

I see a lot on ebay but don't know if it is reliable and the prices are high.

If anybody has a good dealer I like to hear it.

By the way does anybody know more about their currency regarding knocking off zero's and the exchange rate that we have to look at about 5 years from now?

Thank you very much for the info, chouchou! Unfortunately the answers aren't very encouraging for me. As far as HSBC is concerned, a USD account does not meet our needs as we would not profit from a rise in value of their local currency. And a bank account with ABC or EAB from which you can't even move funds is completely worthless.

But maybe things will change in due time now that they've joined the WTF!

Love, Antje

Very wisely and safely analysed there by Antjes...hmmm, u're one beauty with a clear head and no dongs will deafened you at this rate...

YB. - Cheers to a red haired with smart perceptions!!

Hi Guys and Gals. I am currently working on getting us a steady supply of the VD. What i need to know from all of the interested people it what is the price range that you are willing to pay. Naturally we need to get the price as low as possible, but to be realistic currently unless we buy them in Vietnam we will have to pay more for them. Please pm me with what you think would be a fair price. Thanks for the info, JoeD

Hi

We have to forget about opening a bank account in Vietnam. Where is the point if we cannot move funds.

Joe Dinar, at the moment XE.com - The World's Favorite Currency and Foreign Exchange Site shows 1,000,000 VND cost $62.18905, and I think $80 to $90 would be fair.

But I am thinking that because they are now part of WTO, soon banks should start listing the Dong. Am I right ????

So far I have asked 4 big banks including HSBC and the VND still not showing.

Thanks

Originally Posted by chouchou

Hi

I have also contacted someone selling Dong from vietnam (BuyBanknote.com Buy all the world banknotes that you need ) and ask if I buy a lot of Dong would it be possible to buy 1,000,000 VND at $60.

See below is answer.

================================================== ========
----- Original Message -----
From: Nhat Khoa
To: xxxxxxxxx
Sent: Tuesday, November 07, 2006 2:51 AM
Subject: Re: Help please


Hell0

i can sell at this price only if you come here to buy or i'll open a bank account in your name with Vietnam Dong on it.

sending out Vietnam Dong is verry hard is it is over 10 Millions

Anyway, bank interest here is about 10% per year . it is verry good interrest
thanks
================================================== =======



Then, I asked him which bank etc, etc and he told me that he can open a bank account with ACB ( ACB - Asia Commercial Bank ) or EAB ( Redirect - EAB ) but unfortunately we CANNOT move funds.

Hope this help
Thanks

Sounds like he was feeling you out for your answer...Is your large amount more than 10 million Dong....

Unless we are planning a trip to Vietnam, doesn't sound logical to open an account. ....but the 10% interest sure sounds interesting!

Hi Tiff

If you think, 10,000,000 VND it is only around $650 or $700

When the dinar revalue, $700 will be pocket money.

Imagine if you buy 100,000,000 VND (one hundred millions)for $7,000 and the Dong get to only 0.10 you will have $10,000,000.

Not bad...


Thanks

That's what I was thinking too! I've got the bug! Some sort of Foreign Currency Disease! lol! AAANNNNDDDD for those of us in the U.S. it would DEFINITELY be considered Long Term Capital Gains by the time anything happens with it!


Tiff

Choochou,
I would gladly pay 650-700.00 for $10M dong. I already own $2M dong and paid a whole lot when I purchased off of Ebay.

You see, like Tiff, I also have that Foreign Currency Disease.

Luck to all
Teshema