Job Discussion Forums

TimkinMS · Joined: 18 Oct 2005 Posts: 86

Because to many of us are ostensibly paid in US Dollars, which is translated into Dong, and many of us have to pay rent to landlord that only accept US dollars, here is the current:

Vietnam Dong to US dollar exchange rate thread.

Please put the date, and the source of the current rate.

The rate I have to today, November 29, 2009 from xe .com is:

deessell2 · Joined: 11 Jun 2005 Posts: 132 Location: Under the sun

sg9015 · Joined: 03 Sep 2009 Posts: 69 Location: Saigon

I got 19,400 yesterday in Saigon.

blateson · Joined: 12 Mar 2006 Posts: 144

I think this is an excellent thread idea.

19,400 ?! Jesus, already.

Looking online such as yahoo for currency rates is useless as they are lower and only big customers such as Vietnamese companies will get those rates, not you or I, and, you have to do your exchanges at black markets, which are illegal and occasionally hasseld by the B.i.G. Oh and I agree with Deesell, another common tactic is foreigner-related businesses like to demand US dollars from you so they get the extra markup value in addition to the standard price you are to pay. Landlords, travel agents, visa-renewers, etc like to assume that because you are white or American you therefore surely must have a large stash of US dollars, and when you can't or don't pay in US dollars they will then raise the VN dong price so that it reflects the black market, not the newspapers.

sg9015 · Joined: 03 Sep 2009 Posts: 69 Location: Saigon

I know that black market by definition tends to mean illegal but I just can't see how these currency exchanges which are shop front kiosks can in any way be illegal. It's not like you have to meet a bloke down a dark alley who makes a call and suddenly your dong arrives on a scooter that 'does the deal' and disappears.

So, these places get visited do they and I presume have to pay their way? I've only been here for 4 months so I'll bow to your wisdom but I'm yet to see that happen.

blateson · Joined: 12 Mar 2006 Posts: 144

what is it at now?

jb0072009 · Joined: 26 Feb 2009 Posts: 127 Location: Saigon

I changed $200 today. Got same 19,480VND per dollar

Green Acres · Joined: 06 May 2009 Posts: 260

www.vnbusinessnews.com/.../vietnam-dong-begins-to-float-more.html

The rate should break 20,000 by the new year. If the government prints more money to service its debt (see article), then runaway inflation will result and send the currency upward to 22 or 23,000. Remember, this is how the currency was devalued last year (22% inflation) from 17.000 dong to 19,000.

It's interesting how they provide some rationale for their actions, such as the Dubai debt, which never came to be (and most investors doubted it ever would since Abu Dhabi would bail them out). Will that change the VN governments thinking? One would be foolish to think that there is any reason for the governments actions other than self-preservation and empowerment. Tea leaves. nothing but tea leaves.