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6. Many people were surprised when Vietnam became the second largest coffee producing country in the world in recent years, second only to Brazil. The
6. Many people were surprised when Vietnam became the second largest coffee producing country in the world in recent years, second only to Brazil. The Vietnamese dong, VND or d, is managed against the U.S. dollar but is not widely traded. If you were a traveling coffee buyer for the wholeale market (a "coyote" by industry terminology), which of the following currency rates and exchange commission fees would be in your best interest if traveling to Vietnam on a buying trip? Rate Currency Exchange Vietnamese bank rate Saigon Airport exchange bureau rate Hotel exchange bureau rate d19,800 d19,500 d19,400 Commission 2.50% 2.00% 1.50% Assuming an intial cash amount for exchange to dong of: $10,000.00
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