Vietnamese Dong Revaluation

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In fixed exchange rate systems currency revaluation is an official change in the value of that country's currency relative to other currencies. Earlier this year, Vietnam devalued the Dong for the second time in three months. It was an attempt to reduce a widening trade deficit one which has brought down the belief in the currency in the last few years. This in turn has led a number of fellowships to hoard dollars. When the Dong revaluates exporters tend to suffer and importers enjoy significantly higher profits. It leads to economy exports in the overseas markets and also reduces the gap in the middle of exchange rates at banks and the black market.

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Devaluation for Balanced examine and furnish of Foreign Exchange

The State Bank of Vietnam believes that devaluation will effectively tackle the examine and furnish balance of foreign exchange. It believes that the economy would stabilize and deficits (the country had posted .25 billion trade deficit in 2009) would be controlled to a large extent also.

Vietnamese Dong - An selection for Investment?

The devaluation program of the government has helped retain the export sector in Vietnam and the Dong has remained low. Also the government does not permit purchase of the Dong unless it is being used for venture purposes. Hence the store for currency derivatives is growing and investors are banking on the economy to help take the Dong to new heights. Citigroup, Barclays Capital and Deutsche bank will conduct transactions for raising Us billion from selling 10-year term bonds in 2010. It is right on a good time to spend in the Dong.

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