Relevant:
- Vietnam Devalues Dong by Record 7% as Officials Seek to Curb Trade Deficit
- Vietnam Suspends Gold Imports
- Vietnam is world's 2nd largest gold hoarder; Frustrating Government
- Vietnam Raises Bank Dollar Reserve Ratios After Dong Weakens to Record Low
- Gold Tops April Premium In Vietnam, at $217 Over Spot
2009-11-15 — runtogold.com
" The Vietnam Dong has been rapidly evaporating and losing their purchasing power. Many contracts, such as real estate sales, are being made using gold. Gold is money and is reasserting itself as currency in Vietnam. After 18 months of failed policies the helpless government has retreated from the import restrictions because the market is more powerful than governments."
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