This directly from Vietnam Owner about the VND will NEVER Increase..your thoughts Pop
Poppy this was posted today 11/25 your thoughts on it please
Nov 25 4:40 PM [sugarthedog] i went into a local juice bar today where i live and i have frequented it before, however, i forgot the owner is vietnamese. SO, i asked him if and when he thinks the dong will increase in value. he looked at me and laughed. he said never! he said their is way too much corruption there from simple people, to the police to government officials and he said people that have riches there use gold. he said they use gold to buy houses/property. he said that the dong is so low in value because of corruption AND because those that have $$ have it in gold and use gold to buy things including the big ticket items. of course that wasnt what i wanted to hear but it makes sense. if they arent all using the currency, it wont gain value because they will still be using gold. i realize they are trying to get the people to trade gold for dong or whatever OR maybe an RV of the dong would entice those with gold to use currency? who knows, but thats what he said, and he is vietnamese...i figure he would have some real insight.
Vietnam has never totally dedollarized their country. They still use the USD as well and as a result it has made it a chronic situation to get their currency revalued. That is not to say that is is not possible however, It should revalue based on Chinas influence, just not vary much and certainly not like some of these so-called gurus are saying it will. If theymoveto dedollarize then it is possible we would see .03 - .05. Even that is a stretch. The IQD is a much better investment. IMO