"The dong could go into free fall in 2008. The central bank raised the official daily reference rate against the dollar to 16,461 on June 11. (The currency trades in a 1% band on either side of that rate.) But before the bank moved, the dong already traded at 18,500 to the dollar on the unofficial market run by Vietnam's gold shops. Overseas futures traders are pricing 12-month futures for the currency at 22,575 to the dollar. That's a bet that the dong will fall a further 37% from the current official rate in the next year." MP the above quote is from 'Jubak's Journal6/13/2008 12:01 AM ET Inflation from Asia: The next crisis'.If he has in fact got it right then the funds raised to expand in Vietnam will go further plus the returns from their biggest market[US] should also improve with a rising $US.Win,win atm.
AAQ Price at posting:
$1.28 Sentiment: Buy Disclosure: Held
