September 26, 2010

Foreign exchange manipulating?

by: Asian trip wayfarer

It's Uncle Ho (Ho Chi Minh) for sure.But I found him in a rather totally difference place and context.

Weekend Night Bazzar in the historical town of Melaka, Malaysia always busy and many street shops sprung up and offered all kind of souvenirs for a horde of Singaporean tourists, ordering and bargaining around.Looking for something of sentimental value to hold on .

This shop got a pretty shrewdly or even deviously idea of foreign exchange manupulating. The Vietnamese banknote here is a 200 dong. I'm not sure what is the update rates now. But....Let say : 18000-19000 VN Dong is a US dollar. While ..about 3 Malaysian Riggit is a US dollar.

The price tag here is 4 Riggit!

You can do the Math. Even without any calculation , We can senses a sky high profit here... Nothing illegal ..just a strange souvenir with high price tag.

While in Vietnam,This banknote is an unfavorite for everyone .Still in circulation but the Dong devalue so much in the past 10 years so it's hard to use this small note. Even some beggar turns down this bank note.

And they trying to sell for 4 Riggit!

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