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Posted: 24 Feb 2010 | 6:00 am
Countries in Asia are closely monitoring the moves by the State Bank of Vietnam where two recent devaluations have taken nearly 9% off the currency. Given the regions large reliance on exports, Thailand and a host of others are now under increased pressure to match prices.
Analysts say another devaluation may take place and it's possible the dong exchange rate to the USD could reach VND 20,000. Hyper inflation remains a key driver in the developing economy.
For most international hotels and premium grade property in Vietnam developers and owners continue to quote rates in USD as a hedge against devaluation.
Here in Thailand the baht has continued to appreciate, while many of the global markets could continue to capitulate over concerns on a possible economic crisis for the Euro back of Greece's loan defaults.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
While John Hardy and his Ubud Green School and Green Village have been at the groundswell of sustainable building materials, the area has sprouted other pioneering initiatives.
While we hope for the best that Phuket's new airport expansion will have some green focus, it's encouraging to view Singapore's Changi as setting a global standard.
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