Thread: Dong continues to strengthen against dollar

Vietnam’s dong gained for a fourth day. The currency gained 0.03% to 15,940 against the dollar Monday, the highest level since May 3, 2006...
Full story: Vietnam Business Finance: Dong continues to strengthen against dollar

A close friend is soon leaving for that country, being an emerging market there and his role is to help as a Marketing & Sales General Manager for the next 5 months.

He informed me, (he's made several biz trips there in preparation) that the DONG is a controlled currency and pointless to buy for the moment!!! ... after I asked him if he plans to buy lots of DONGs and save it up.

Reminds me of the time with the rubles too while I was there in Moscow for my stint.

He said, go there, buy by the ton loads and resell it (within Vietnam) asap to the next CEO moving in that plans to live out for the next 5-10 years there, then there may just be a windfall... but which big captain would do that???

... precisely!

Originally Posted by YogiBrood

A close friend is soon leaving for that country, being an emerging market there and his role is to help as a Marketing & Sales General Manager for the next 5 months.

He informed me, (he's made several biz trips there in preparation) that the DONG is a controlled currency and pointless to buy for the moment!!! ... after I asked him if he plans to buy lots of DONGs and save it up.

Reminds me of the time with the rubles too while I was there in Moscow for my stint.

He said, go there, buy by the ton loads and resell it (within Vietnam) asap to the next CEO moving in that plans to live out for the next 5-10 years there, then there may just be a windfall... but which big captain would do that???

... precisely!

Wow! If I am understanding this, the dong may not be such a good investment after all!

Originally Posted by livefree

Wow! If I am understanding this, the dong may not be such a good investment after all!

I hope you didnt think it was a good investment simply because it was cheap.

Originally Posted by arvie

I hope you didnt think it was a good investment simply because it was cheap.

It's all relaive ,the dollar is lot cheaper than when it had gold behind it. But it was cumbersome, well it is not combersome now, it's CHEAP..er. It is where there is a marketable product the currency becomes valuable. Why not the Ding,Dang,Dong.

Even if it were not currency, but something else in use...just how much cheaper can it get..if it moves at all, it has to go up, and if that happens, and it continues to do so, then more investors, more China, more of this and that. $$$$


Maceman

Originally Posted by livefree

Wow! If I am understanding this, the dong may not be such a good investment after all!

Being relative to evolving markets and the question with "timing" is what makes it all move... uphill or downhill and being cheap has little to do...

Certainly the opportunity is on the offer however, circumstances warrants an individual's priority and commitment and coming away bountiful making it look cheap is perhaps the enticement going hand in hand with immediate requirement.... tempting!

In the current case, Vietnam needs YOU and your buck$$$ much more (yr cold cash above all else) than your wishful quick return and plentiful, which is not immediately available... not for a good while to come for sure.... it is still a long way or road, to Piccadilly on the Dong I'm afraid.


I shall try see how I can copy paste some recent pics (of HCMC) gathered by another Forum member I am signed up at... our other Forum deals with members traveling most of the time and exchanging pics with co ordinates of GPS positions wherever we travel to.

Cheers!