Saturday, February 13, 2010

Vietnam devalued its currency

From: http://www.nytimes.com/2009/11/26/business/global/26devalue.html"The central bank on Wednesday re-set the mid-point of the band to around 17,961 per U.S. dollar, effectively devaluing the currency by 5.44 percent."" the black market, where the dong has been much weaker, trading at 19,700 per U.S. dollar."
http://truthingold.blogspot.com/2010/02/more-bs-in-press-about-gold.html" Viet Nam devalued its currency yesterday, and based on the premium of $54 over the spot price of gold being paid in Viet Nam, it would appear that the population there is scrambling to buy physical gold. Viet Nam is quietly one of the largest buyers of gold in the world."

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