There is lots of chatter about the Dong currency and whether it is planned to revalue. Remember Vietnam was considered on the “underdeveloped” country list of the IMF and so it is one of these countries they want to bring forward because it has great potential…The State Bank of Vietnam has been giving us signals for almost a decade now that they plan to get rid of 3 or up to 4 zeros from their Dong currency. So, we know something is up. But what we don’t know is just exactly how they plan to do it.
Article: “ACCORDING TO THE NATIONAL BANK OF VIETNAM, VIETNAM WILL ISSUE A NEW VERSION OF THE VIETNAMESE DONG ON JANUARY 1, 2015.” Of course, this did not happen. Why? This is another case where they need to rethink what they are doing. They do not want a bunch of new billionaires overnight. They must first “withdrawal” a certain % of the current larger notes out of circulation, the same process of the project to delete the zeros that Iraq is now going through. The only way to do that is to go electronic banking, just like Iraq did. This is now in the process. They plan to accomplish the conversion to electronic banking by 2020. So could this be a target?