(Thank you Dr. Clarke for emailing this to Dinar Recaps.)
DR. CLARKE: Just a quick update of interest on VN Dong & Iraqi Dinar……Read the article below. Like Iraq, Vietnam is enticing citizens to acquire more Dong, by paying much higher interest rates, 5-6.5%, replacing USD…..and of course, Iraq just last week announced 18% interest on their deposited money, as well.
As we’ve been saying, the amount of USD within these countries is being reduced at an accelerated rate, and replaced with their own home currency - thus RAISING THE VALUE of the currency. IRAQ’S VALUE…..coming soon.
This is just another strong indicator, that these two countries are moving quickly, to replace the USD, as the main currency…and promoting their own - because it will soon be the DOMINANT CURRENCY within these countries - with an accurate increased Value Ratio, rather than distorted.
Oh, and by the way…..MOSUL is WAY ahead of schedule. You’re now seeing more articles and validation, as to the huge support of coalition troops and resources……and the overall importance of this operation, to the success of the country’s economic future & the SECURITY LEVEL WORLDWIDE, which includes the Substantial Increase in their Dinar Rate, on an International basis. MARCH……
ARTICLE: Dollar Keeps Sliding in Vietnam as Foreign Investment Boosts Supplies
The US dollar has fallen quite sharply in Vietnam this month as ample supplies, boosted by strong foreign investment flows, come at a time when dong savings have become more attractive.
Following the central bank's fourth cut this week, the mid-point rate for the dollar dropped to a five-month low of VND 21,881 on Friday, compared to VND 21,910 on Monday.
Since banks are allowed to trade the greenback within 3 percent above or below the daily-issued reference ate, the country's biggest lender Vietcom bank reduced its rate by 0.6 percent to VND 22,255 on Friday. That was down 1.2 percent from early this month.
As foreign investors have pumped more money into Vietnam, the forex market has been seeing a surplus on the supply side, which in return has caused the dollar to fall continuously, a representative of HSBC Vietnam told Thanh Nien.
Foreign investors disbursed $800 million in the January 1-20 period, up 23.1 percent year-on-year, according to figures released by the Foreign Investment Agency.
Industry insiders said major M&A deals, particularly the $1.1 billion transaction between Thailand's Singha Group and local consumer goods group Masan, also increased supplies of foreign currencies. In the record deal signed the end of last month, the Thai group bought stakes of 25 percent and 33 percent in two of Masan's subsidiaries.
Overseas remittances, which often come in most strongly in January, the month before the Tet Lunar New Year, are also expected to rise sharply this year, said Nguyen Hoang Minh, vice director of the central bank's Ho Chi Minh City office.
The central bank has recently taken measures to curb dollar hoarding. It cut interest rates to zero on dollar deposits by businesses in September and then by individuals in December.
Reports from banks showed that their dollar deposits have declined since the last quarter, as many customers have switched to dong savings accounts to enjoy higher interest rates of 5-6.5 percent.
However, speaking to news website Dau Tu on Thursday, an expert with Bao Viet Securities Company said the dollar decline is possibly temporary, as the greenback will likely strengthen and China's yuan will possibly be depreciated further.
Friends, VERY Good Things are Happening Right Now, as we speak…..Relax, no matter what you see.
I Intend the Best for ALL,