One of the last frontier markets to emerge in Asia, we see Vietnam as a ten-year buy.
- Merrill Lynch strategy report, February 2006
Got experience in business or investing in Vietnam? Have an opinion on Vietnam's stock market: Buy, Sell or Hold?
Join us! Blog, comment and share your thoughts on the stock market and investing in Vietnam. Make your voice heard!
pretty significant
I don't think there is going to be any shortage in dollars now. However, I could see this being a major problem next year. Being forced to convert at some low official rate for the VND/USD would be horrible. If the black market rate goes crazy high again, I would be hesitant to keep dollars in the bank.
Trust
Can anyone trust the banks with his/her $$$$ (or gold) if it's true?
Scary Indeed
This would be a scary development indeed and shake what little confidence people have in the banks now.
One can only hope that cooler heads prevail, but this story makes it sound like a done deal...
Vietnam to Let Banks Convert Dollar Deposits to Dong , VIR Says ...
The original source from the official Vietnam Investment Review:
Capital shortage medicine
The government really needs to be careful here not to make any sudden (stupid?) moves that will panic depositors and the markets.
The currency crisis seems to be fading, but any shock could cause another plunge in confidence.