Sunday, April 22, 2007

Dong Derivatives May Double as Investors Enter Vietnam's Expanding Economy

(Bloomberg) -- Vietnam's currency is starting to capture the attention of derivatives traders as Southeast Asia's fastest-growing economy accelerates.

DBS Group Holdings Ltd. and Australia & New Zealand Banking Group Ltd. have begun offshore trading in contracts tied to the future value of the currency, the dong. The $50 million of Vietnamese contracts that trade monthly may double in a year, Standard Chartered Plc estimates. More than $1 billion of Chinese yuan forwards change hands daily in an overseas market that didn't exist 15 years ago, according to HSBC Holdings Plc.


Read more at Bloomberg Currencies News

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