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yogurtpooh
Joined: 26 Oct 2010
Posts: 85
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 Posted: Wed May 04, 2011 8:44 am Post subject: |
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| Thanks, I'll use them too then. |
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LettersAthruZ
Joined: 25 Apr 2010
Posts: 466
Location: North Viet Nam
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| Posted: Wed May 04, 2011 5:09 pm Post subject: |
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| yogurtpooh wrote: |
| Thanks, I'll use them too then. |
Thing is, though - I ave NEVER been bothered to show the return leg on a flight by ANY AIRLINE....Vietnamese carriers....Chinese carriers......Japanese carriers.....United States Carriers (United is the only U.S. carrier that goes to Viet Nam - Delta / Northwest USED to go, but they dropped the Toyko - Ho Chi Minh City route and gave it to Vietnam Airlines) - I'd NEVER been asked to prove a round-trip ticket or show a credit card and NOBODY THAT I KNOW WHO HAS TRAVELED TO VIETNAM has been asked to prove these things either!!
You will be fine just showing them your visa at the airline counter....just grab thee cheapest airfare!! |
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tonyjones01
Joined: 20 Aug 2010
Posts: 67
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| Posted: Wed May 04, 2011 10:28 pm Post subject: |
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| yogurtpooh wrote: |
| what airline did you use to fly out of the US? |
If you haven�t purchased your ticket yet, make sure and get one from a Viet travel agency. They have the best deals and can save you hundreds compared to using online sites. Also, they will process your visa. PM me if you need some agent numbers. |
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I'm With Stupid
Joined: 03 Sep 2010
Posts: 432
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| Posted: Wed May 04, 2011 11:20 pm Post subject: |
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| I've only flown in once, but I did Heathrow to Bangkok to HCMC (Thai Airways - great airline btw) without ever having to show proof of onward travel. My logic was that Vietnam's a pretty major backpacker route, and so there are obviously plenty of people who fly in on a one-way ticket with the intention of getting a bus ticket to Cambodia or Laos when they arrive, and do so without any problems. |
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yogurtpooh
Joined: 26 Oct 2010
Posts: 85
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| Posted: Thu May 05, 2011 7:47 pm Post subject: |
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| Hey thanks, Tony, I actually live in Little Saigon and I am well aware of the deals. Thanks so much though. |
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London Bridge
Joined: 06 May 2008
Posts: 34
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| Posted: Sat May 07, 2011 12:44 pm Post subject: |
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Anyone know if Hanoi or Saigon is cheaper to fly out of?
Or, are both cities, basically/nearly the same in price? |
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LettersAthruZ
Joined: 25 Apr 2010
Posts: 466
Location: North Viet Nam
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| Posted: Sat May 07, 2011 9:29 pm Post subject: |
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Basically the same!! Exception might be it's maybe $40USD additional to get to/from Kuala Lumpur from Ha Noi than from Ho Chi Minh City and $40USD more expensive to fly to/from Korea and China to/from Ho Chi Minh City as opposed to Ha Noi!
Oz, The States, Europe? If those are you final destinations - it's the same price outta Ha Noi as it is out of Ho Chi Minh City!
So, since prices are almost identical, just go with the one that's closest to you! If the place you are at currently is Vung Tau, fly outta Tay San in HCMC! If it's Ha Long Bay, fly outta Noi Bai at Ha Noi! |
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spycatcher reincarnated
Joined: 19 May 2005
Posts: 236
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| Posted: Mon Jul 25, 2011 5:23 am Post subject: |
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Something I wrote on this thread 3 months ago:
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I have a very different opinion to some other posters.
I believe that keeping your money in VND is an excellent option at this precise moment and is worth considering at other times as well.
Let's look at the present situation:
The VND is appreciating against the usd (for the last few days at least), and I don't feel it will substantially depreciate against the usd in the next 3-6 months (my gut feeling)
Interest rate achievable on VND is 14%
Interest rate achievable on usd in the States is about 0.5%
I feel it may be the best currency bet in the world at present!!
I agree that one has to be careful asnd if you see the black market rate begin to surpass the bank rate then you should think about switching currency.
If you put your VND in the bank at 14% pre annum for a 3 month period and after 2 months the black market starts to diverge from the bank rate you can get a 1 month loan, from the bank equivalent to your deposit and to also mature on the same date. This way you will not be officially be penalised for an early withdrawal, but in effect you are being penalised. This works out much better than just withdrawing the lot and forfeiting all your interest.
Let's see. Let's say I put 10,000,000 VND in to the bank at 14% pa. today at the exchange rate of 20,760
http://www.vietcombank.com.vn/en/Exchange%20Rate.asp
I'll will not manage this at all, regardless of what happens with blackmarket rates, etc. and wait and see the result in 3 months' time. I believe I will be substantially better off, in usd terms, than if I had this in usd in the States. |
So the numbers are:
3 months ago:
Exchange rate (USD/VND): 20,760
Interest rate: 14% p.a. Actually it was more like 18%, but I didn�t realize this at the time
Present exchange rate (USD/VND): 20,610
VND appreciation %: 0.7
Interest (3 months) 3.5%
3 month return assuming USD interest is 0%: 4.2%
I have had a quick check of some major currencies movements against the Usd over the last 3 months and they are all + or � 1.5% or less.
Conclusion
Therefore I conclude that for the last 3 months the VND was probably one of the best currency investments in the world. |
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just noel
Joined: 17 Jul 2006
Posts: 168
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| Posted: Mon Jul 25, 2011 10:10 am Post subject: |
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| spycatcher reincarnated wrote: |
Something I wrote on this thread 3 months ago:
| Quote: |
I have a very different opinion to some other posters.
I believe that keeping your money in VND is an excellent option at this precise moment and is worth considering at other times as well.
Let's look at the present situation:
The VND is appreciating against the usd (for the last few days at least), and I don't feel it will substantially depreciate against the usd in the next 3-6 months (my gut feeling)
Interest rate achievable on VND is 14%
Interest rate achievable on usd in the States is about 0.5%
I feel it may be the best currency bet in the world at present!!
I agree that one has to be careful asnd if you see the black market rate begin to surpass the bank rate then you should think about switching currency.
If you put your VND in the bank at 14% pre annum for a 3 month period and after 2 months the black market starts to diverge from the bank rate you can get a 1 month loan, from the bank equivalent to your deposit and to also mature on the same date. This way you will not be officially be penalised for an early withdrawal, but in effect you are being penalised. This works out much better than just withdrawing the lot and forfeiting all your interest.
Let's see. Let's say I put 10,000,000 VND in to the bank at 14% pa. today at the exchange rate of 20,760
http://www.vietcombank.com.vn/en/Exchange%20Rate.asp
I'll will not manage this at all, regardless of what happens with blackmarket rates, etc. and wait and see the result in 3 months' time. I believe I will be substantially better off, in usd terms, than if I had this in usd in the States. |
So the numbers are:
3 months ago:
Exchange rate (USD/VND): 20,760
Interest rate: 14% p.a. Actually it was more like 18%, but I didn�t realize this at the time
Present exchange rate (USD/VND): 20,610
VND appreciation %: 0.7
Interest (3 months) 3.5%
3 month return assuming USD interest is 0%: 4.2%
I have had a quick check of some major currencies movements against the Usd over the last 3 months and they are all + or � 1.5% or less.
Conclusion
Therefore I conclude that for the last 3 months the VND was probably one of the best currency investments in the world. |
But now inflation is officially at 22%.
So, 14% VND interest in the bank + the appreciation of 0.7% and the VND is still losing 8%.
The common belief and action in Saigon and Hanoi and everywhere in Vietnam is to only keep enough VND for daily or monthly transactions: shopping at the market, paying rent, etc.
True, other currencies are declining. I agree. And it seems no currency is good at the moment.
But the 22% inflation + possible overnight devaluation by the SBoV (State Bank of Vietnam at any times, lead me to rather have the USD and other currencies for my longer- term holding.
Also worth noting SpyC as you know: this 22% inflation does not hit everyone. I'm single. I don't buy food at the market for a family, and other amenities so I don't see the sticker shock like my adult students do. |
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spycatcher reincarnated
Joined: 19 May 2005
Posts: 236
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| Posted: Tue Jul 26, 2011 6:05 am Post subject: |
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| But now inflation is officially at 22%. |
Yes, but what I wrote was for a specific purpose at a specific time. I also wrote:
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| Don�t get me wrong, for historical reasons (very poor government management over the last few years) I am still negative on the VND. The issue is how negative one is and whether this is compensated for by high interest rates. |
| Quote: |
| So, 14% VND interest in the bank + the appreciation of 0.7% and the VND is still losing 8%. |
There are different considerations now. Also note that I was pointing out, at a time when other posters were telling others to get out of the VND, that I thought it was a relatively good currency to hold for a three month period, and this has no relevence to whether the interest and exchange gains/losses are real (above CPI).
I would also note that you are comparing different times. The 22% is for the last year, whereas the 16% that is achievable at present is for the future year.
| Quote: |
| The common belief and action in Saigon and Hanoi and everywhere in Vietnam is to only keep enough VND for daily or monthly transactions: shopping at the market, paying rent, etc. |
As I have just shown the common belief was wrong for the last 3 months, at least.
I have written on this subject previously and I will reiterate what I quoted above:
| Quote: |
| Don�t get me wrong, for historical reasons (very poor government management over the last few years) I am still negative on the VND. The issue is how negative one is and whether this is compensated for by high interest rates. |
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Jbhughes
Joined: 01 Jul 2010
Posts: 254
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| Posted: Tue Jul 26, 2011 3:41 pm Post subject: |
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What's your current prediction then Spycatcher, if you don't mind me asking?
It seems that the powers-that-be have made a mistake regarding the interest rate drop - is there some kind of other predictable instrument they will use to combat inflation that may impact the currency situation?
Perhaps they won't bother? Growth seems to be the main target.
Also, is anyone aware of a bank that will transfer money to a relative's account or transfer money to a university to pay for course fees? (Of course I'm referring to outside of the country).
Thanks. |
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Oh My God
Joined: 31 Jan 2010
Posts: 273
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| Posted: Fri Jul 29, 2011 11:17 pm Post subject: |
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| spycatcher reincarnated wrote: |
Therefore I conclude that for the last 3 months the VND was probably one of the best currency investments in the world. |
Through the years I can truly and beyond a doubt say that I've come to deeply respect your opinions and comments.
But why is it that you're only on here (and other forums) as strictly a business or legal adviser type?
Where's the personable side of spycatcher reincarnated?
Inquiring minds want to know... |
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CThomas
Joined: 21 Oct 2009
Posts: 380
Location: HCMC, Vietnam
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| Posted: Sat Jul 30, 2011 9:14 am Post subject: |
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[quote="Oh My God"]
| spycatcher reincarnated wrote: |
Where's the personable side of [b]spycatcher reincarnated?
Inquiring minds want to know... |
Making a lot of money. |
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