will the vietnamese dong ever revalue

Scratch that. Following are currency exchange calculator and the details of exchange rates between U.S. Dollar (USD) and Vietnamese dong (VND). This makes the purchase of foreign goods in foreign currencies less expensive to domestic importers. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). Reid Kirchenbauer of InvestAsian.com says, The dinar and dong, along with many other thinly traded currencies, are hard to get at a fair price in the United States. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. Log in to see them here or sign up to get started. The appeal to most unknowing investors is the expectation that these currencies will be revalued on a dollar-for-dollar basis with the US dollar. The countrys economic recovery, the strengthening of the Chinese yuan, and the U.S. expansionary monetary policy are predicted to keep the exchange rates of this exotic currency steady. Inflation in recent years has also been well controlled, reinforcing confidence in the Vietnamese dong. The direction of the dong could depend on the strength of the US dollar, how demand for exports from Vietnam are affected by a slowing global economy, and monetary policy in Vietnam, among other factors. In the joint statement, Vietnam confirmed its commitment under International Monetary Fund rules "to avoid manipulating its exchange rate in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese dong. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. While the USDVND spot exchange rate is quoted and exchanged in the same day, the USDVND forward rate is quoted today but for delivery and payment on a specific future date. 0.0007. Post Copyrights 2023 All Rights Reserved by Assets assistant Inc. Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. The material provided on this website is for information purposes only and should not be understood as an investment advice. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. On top of all that, try finding someone to sell that currency to in order to recapture your USD. Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. Relative economic strength can be used to forecast the direction of exchange rates. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. Vietnam has pledged not to deliberately weaken its dong currency to gain an export advantage, reaching an agreement with the U.S. Treasury to refrain from "competitive devaluation" and make its . Investing in Vietnamese dong is therefore proving to be a real opportunity for foreign investors, who must nevertheless keep an eye on inflation of the dong. 00:00. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. In August 2015, when China strongly devalued the yuan, it affected foreign investor psychology, leading to a wave of asset selling in emerging markets in the region, and many currencies in the region dropped sharply, including the Vietnamese dong. Some people you can't help. Risk Disclosure Statement. - Will Rogers. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). Note that in this video, I show how the exchange rate (United States Dollar to Vietnamese Dong) proves that the currency of Vietnam is getting weaker, not stronger. by wander Wed Jul 22, 2015 8:40 pm, Post Discussions about the Iraqi dinar scam are constantly surfacing on accounting forums. This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. by Fallible Wed Jul 22, 2015 10:08 pm, Post The implication is that most dinars are not being used for trade and commerce (the ostensible purpose of any currency), but for speculation by duped investors., Whitmore goes on to caution that the Vietnamese dong is no paragon of value either. Right off the bat, then, theres a discrepancy representing a more than a 20% decrease in value. All factors that seem to make investing in either of them a very credible and enticing opportunity to outsmart Wall Street, best fellow investors, and get rich quick by uncovering secrets the government doesnt want us to know. by Sheepdog Thu Jul 23, 2015 4:21 pm, Post On 22 September, the SBV also raised interest rates for the first time in 11 years, increasing the refinancing, overnight lending and SBV loan rates by 100 basis points to return them to March 2020 levels. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. This browser is no longer supported at MarketWatch. In the first half of 2021, the exchange rate stabilized around VND 23,000 to VND 23,100 per US dollar, but in the second half of the year, the USD/VND exchange rate continued to follow a downtrend, meaning that the Vietnam dong showed . Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Predictions regarding the Iraqi dinar are a good example. by mhalley Thu Jul 23, 2015 3:41 am, Post by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. Such estimates of a future trend are difficult to predict, as we cant tell the future and the best we can do is make educated guesses. Another source, who chooses to remain anonymous, painted a vivid picture to keep in mind as you probe the depths of this scam. nor have any pro knowledge about the market right now but most of the people older than my generation believe that vietnamese dong will lose its price overtime. Vietnamese dong forecast: How will the VND fare against USD and EUR. What does this even mean? When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. I want to help emerging economies anyway I can. ***Protect. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. The bills are colorful and the numbers used are very large. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. Dinar Revaluation Will the Iraqi Currency RV? The thumbprint is a nice touch. To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some. However, he found the exchange rate much higher at Vietnams Agribank. Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. As you can imagine, that would make those holding either currency instant millionaires overnight. by ShiftF5 Wed Jul 22, 2015 9:04 pm, Post devaluation of Iraqi dinar is an idea that has been discussed for years. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment \u0026 Economy. It influences its strength as its associated with a change in the markets stability. Questions. Now, lets dive deeper into what currency revaluation is and what are its main drivers. I had someone do a transcript of the call. Negosentro is open to advertisers. Negosentro | Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct 2022 | During the recently concluded PhilConstruct 2022, Buildrite Construction Chemicals Negosentro | Using a Blockchain PR Agency to Promote Your Crypto Project | Getting the word out about a new crypto or blockchain project Copyright 2011 | NEGOSENTRO.COM | All Rights Reserved. "Don't trust everything you read on the Internet"- Abraham Lincoln. Well I did email the AGs office and the local news investigation team, who obviously unanimously agreed that driving out of state was a terrible idea, and forwarded their responses to my mom. Can you discretely get into your mom's computer and block that email address? This currency entered the South area six years later, in 1953. Also, you can convert in the reverse direction (from VND to USD). H NI The Vietnamese Pressure on currencies According to many analysis, the current movement of foreign currency cash flow will help increase foreign exchange reserves and also serve as a foundation and resource for the State Bank of Vietnam to continue to operate proactively and flexibly in the future. You should do your own research to develop a view of the currency as an investment. Countless warnings and blood soaked war stories are prevalent online, but to my surprise investors continue to fall for it, throwing good money at a very bad idea. Vietnam struggled with a declining economy for a long time. However, he found the exchange rate much higher at Vietnam's . I almost got scammed a few years ago when I sold my car on Craiglist.for a split second I was in doubt---the scammers were that good. Add like 3-5% and that's it. Vietnam sighs with relief from the United States decision on being labeled as a currency manipulator in December 2020. Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. (Ralph Waldo Emerson). Hopefully she will learn from her mistake. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. What Whitmore drives home, though, that its an apples to oranges comparison. In addition to these four factors, large-scale events that impact the overall economy, its competitiveness and profitability, can also alter the value of a currency. It was designed to Clients will call their accountant to "alert" him or her that they are coming into a windfall any day now. Buying Vietnamese Dong & holding for revalue. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. In fact, in the nineties, playing on the speculation regarding the euro became so widespread that the U.S. Commodities Future Trading Commission issued multiple warnings. Answer (1 of 2): You can type on Google. Analysis by Malaysia-based Maybank expects Vietnams GDP to grow by 8% in 2022, up from a previous forecast of 6.9%, supported by retail sales on an improved labour market and the return of tourism following Covid-19 lockdowns. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. In 1985, the Dong was revalued. It follows a sharp rise in US interest rates and weakening global demand prospects, which have increased the risk of capital outflows and contributed to downward pressure on the Vietnamese dong, although the currency has weakened by less against the US dollar than many other APAC currencies this year,. According to many analysis, the current movement of foreign currency cash flow will help increase foreign exchange reserves and also serve as a foundation and resource for the State Bank of Vietnam to continue to operate proactively and flexibly in the future. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. by Nicolas Fri Jul 24, 2015 11:21 pm, Post I live in Vietnam. by fidobogo Wed Jul 22, 2015 9:26 pm, Post Higher interest rates tend to attract capital from investors looking for higher returns on their money, resulting in outflows from countries with comparatively lower interest rates. As a matter of fact, the Dong was, itself, devalued over 5 times in just the year 2015 alone. Will the Vietnamese dong revalue 2021? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. by AlohaJoe Thu Jul 23, 2015 8:52 am, Post This screams scam to all of us, but your Mom, relatives, and the friend all fell for it. Click on the button below to get started. I often get calls asking about the Iraqi dinar. https://creatorsourceenergy.com/#vietnamesedong #vietnamesedongrv#dongrevalue#currencyrevalue#currenctrevaluevietnamesedong#financialreset2022#financialreset2023 We know the level of care and privacy you expect from a company dealing with currencies is of the utmost . by Gardener246 Thu Jul 23, 2015 12:19 am, Post This is also the lowest exchange rate in the last five years. That would be a really elaborate plan to mug someone. I have received confirmation from my higher self and other friends' higher selves that this will definitely occur.https://creatorsourceenergy.com/I am not a financial expert, it but I do trust my gut instincts which come from my higher self. On the other hand, a decrease in demand can weaken the currency. This currency entered the South area six years later, in 1953. The currency code for Dongs is VND, and the currency symbol is . They are common in developing economies that are looking to provide a stable system. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. by barnaclebob Wed Jul 22, 2015 9:26 pm, Post The pair could then retreat from the peak above 24,000 to trade at 23,600 by the end of the first quarter of 2023, 23,500 by the end of the second quarter, 23,400 by the end of . Is the Iraqi dinar ever going to revalue? Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. Enter the amount of money to be converted from U.S. Dollar (USD) to Vietnamese dong (VND), it is converted as you type. At this point, their exports will decrease due to more expensive labor. Negosentro.com respects your privacy. Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. If you're curious about what Vietnamese money looks like, check out the video. They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. His lopsided reporting continued under directives to omit more and more important facts and figures. Let us know what do you think about it? Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget Lets review some of its common causes: These changes are an important factor that impacts the value of any given currency. Personally, I think were only in the first or second stage of this losing strategy. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. For inquiries, please Contact us! While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. Past performance is no guarantee of future results. Did she ever receive any bills for service? 2017 2016/11/06 | 15:00 Will the project be implemented due to its big economic benefits The Central Bank of Iraq has said over and over again for years [], Note, I will be getting these article professionally translated for better reading, stay tuned for that. Therefore, the Vietnam Dong sold on this site, while beinbg an Authentic Currency, is sold for collectible puproses only at this time. Consistently sets low goals and fails to achieve them. VND - Vietnamese Dong. Whitmore is relentless with facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as "Swiss" dinars) with a new currency and offered to convert 150 new dinars to one old dinar. If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. However, after a recent question about another foreign currency, the Vietnamese dong, I felt it was time to truly dig into whats going on and write the definitive article on where these currency strategies fit into both retirement and overall investment portfolios. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. All quotes are in local exchange time. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. According to Mark Whitmore, founder and portfolio manager of Whitmore Capital, LP - a hedge fund that invests exclusively in currencies the likelihood of either currency ever trading on a par value to the US dollar is preposterous. He says that dinar advocates often note that Kuwaits currency appreciated hundreds of percent after Iraq left the country following its failed invasion. The VND forecast against the euro from Trading Economics indicated that the EUR/VND pair could move down to 22,011 in one year, from 22,714.40 at the end of the third quarter. The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. The move came after the Fed raised interest rates by another 75 basis points, prompting a number of central banks to also raise rates last week. Low currency value = more exports. by nisiprius Wed Jul 22, 2015 8:24 pm, Post While the sheer terror of realizing you may have lost a boatload of money after buying a foreign currency is bad enough, the source regretfully informed me that, Some dinar dealers are even more unscrupulous than the advertisers. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. He said, I caution people to remember that just because a money broker is regulated, has a good rating by the Better Business Bureau and is not breaking any FTC laws doesn't mean they are trustworthy. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. What are the advantages of position analysis questionnaire? The difference between trading assets and CFDs. Get a sample report showing our regional, country and commodities data and analysis. Will the Vietnamese Dong be Revalued Soon? How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? One cannot enlighten the unconscious. Today, its the Iraqi dinar scams that are overflooding the market. Thank you for supporting the channel. This is a record high level of foreign exchange reserves in Vietnam. To better understand revaluation, the difference between fixed and floating exchange rate systems should be clarified as well. Subscriber Agreement & Terms of Use | 1 U.S. Dollar = 23,230.00 Vietnamese dong, 2 U.S. Dollar = 46,460.00 Vietnamese dong, 4 U.S. Dollar = 92,920.00 Vietnamese dong, 5 U.S. Dollar = 116,150.00 Vietnamese dong, 10 U.S. Dollar = 232,300.00 Vietnamese dong, 20 U.S. Dollar = 464,600.00 Vietnamese dong, 25 U.S. Dollar = 580,750.00 Vietnamese dong, 50 U.S. Dollar = 1,161,500.00 Vietnamese dong, 100 U.S. Dollar = 2,323,000.00 Vietnamese dong, 200 U.S. Dollar = 4,646,000.00 Vietnamese dong, 250 U.S. Dollar = 5,807,500.00 Vietnamese dong, 500 U.S. Dollar = 11,615,000.00 Vietnamese dong, 1000 U.S. Dollar = 23,230,000.00 Vietnamese dong, 2000 U.S. Dollar = 46,460,000.00 Vietnamese dong, 2500 U.S. Dollar = 58,075,000.00 Vietnamese dong, 5000 U.S. Dollar = 116,150,000.00 Vietnamese dong, 10000 U.S. Dollar = 232,300,000.00 Vietnamese dong, 20000 U.S. Dollar = 464,600,000.00 Vietnamese dong, 25000 U.S. Dollar = 580,750,000.00 Vietnamese dong, 50000 U.S. Dollar = 1,161,500,000.00 Vietnamese dong, 100000 U.S. Dollar = 2,323,000,000.00 Vietnamese dong, 200000 U.S. Dollar = 4,646,000,000.00 Vietnamese dong, 500000 U.S. Dollar = 11,615,000,000.00 Vietnamese dong, 1000000 U.S. Dollar = 23,230,000,000.00 Vietnamese dong. -0.95%. This idea has given birth to many "investment" scams, promising 1,000-fold returns to investors who buy dinars at a steep markup. Many of the scam artists out there are smart enough never to break any law, which means theyre in a position to dupe people indefinitely.. Here is the video I created as I did my YouTube livestream. Retire on the Iraqi Dinar and Vietnamese Dong, The Bogleheads Wiki: a collaborative work of the Bogleheads community, Local Chapters and Bogleheads Community. Source: TradingViewPast performance is not a reliable indicator of future results. Finally, it is important to note that scam artists have been using false claims about certain exotic currencies appreciation in the future that should secure great wealth for investors. At the end of the war in 1975, the South Vietnamese dong was replaced by the liberation dong (which gets my vote as the best name for a currency ever). According to many analysis, the current movement of foreign currency cash flow will help increase foreign exchange reserves and also serve as a foundation and resource for the State Bank of Vietnam to continue to operate proactively and flexibly in the future. I contribute to many blogs. 100 U.S. Dollar = 2,323,000.0000 Vietnamese dong. by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). It weakened the Vietnamese dong at the time, with inflation running at up to 900%. Buy VND with Confidence. The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. It might be easy to find someone to buy your house cat, but finding a suitable home for a tiger would be much more difficult.. Its important to remember that currency markets are highly volatile, making it difficult for analysts and algorithm-based forecasters to come up with accurate long-term predictions.We recommend that you always do your own research. Negosentro is very much open to accept article contributions on entrepreneurship, tech, lifestyle, travel, health and resources on a broad sense. Vietnam has been establishing itself as a stable economy for a while, and a stronger Vietnamese dong would attract even more foreign capital to be invested in the country. Nazim told state-owned al-Sabah newspaper that the Vietnamese Dong. Those who follow news about Vietnam are familiar with the relocation of manufacturing facilities from China which is expected to encourage economic growth despite the uncertainties that the COVID-19 pandemic has caused. Unless I had law enforcement watching my back. by easye418 Thu Jul 23, 2015 3:45 pm, Post Will the Vietnamese Dong RV Revalue? Looking forward, we estimate it to trade at 22950.00 in 12 months time. With transaction fees and spreads included, one would have lost money if they bought either the dong or dinar 10 years ago. Tue, Dec 22 2020 2:50 AM EST. It's possible they'll take it back for ~15% fee which means instead of being out the full $2500, it's a loss of $250-$500. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. watch now. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. In the first half of 2021, the exchange rate stabilized around VND23,000 to VND23,100 per US dollar, but in the second half of the year, the US$/VND exchange rate continued to follow a downtrend, meaning that the Vietnam dong showed increase. I know (albeit indirectly) the secretary to the President and a number of similarly well-connected people. What affects the Vietnamese dongs value? When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. Also, make sure you sign up to my FREE newsletter below: Last Updated On: December 5, 2016 By: Nick Giammarino Subscribe to the [], Benefits of dropping zeros of Dinar 2016/11/06 | 15:00 . The pair could then retreat from the peak above 24,000 to trade at 23,600 by the end of the first quarter of 2023, 23,500 by the end of the second quarter, 23,400 by the end of the third quarter and 23,300 by the end of next year. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. -Seneca. by IPer Thu Jul 23, 2015 6:57 am, Post For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). Join the 480.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: At the time, this was the result of only superficial research. Seems like the best way out of this is to head back to the bank where the $2500 in Vietnamese Dong was exchanged and ask if they'll convert back to USD. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. The dinar became 99.3% less valuable overnight. Theyre usually lured into buying tens of millions in foreign currency in hopes of spectacular wealth, only to be left holding money that isnt worth the paper its printed on. Posts: 3961. by letsgobobby Thu Jul 23, 2015 1:01 am, Post by Abe Sat Aug 08, 2015 4:39 pm, Return to Personal Finance (Not Investing), Powered by phpBB Forum Software phpBB Limited, Time: 0.275s | Peak Memory Usage: 9.81 MiB | GZIP: Off. Helps the rest of us stay on our toes. The Vietnamese Dong is the currency of Viet Nam. Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in the The investors will purchase the local currency and increase its demand and appreciation. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. Fortunately, she only bought in once and didn't waste all her savings on it. There are currently no items in this Watchlist. If you're concerned that your parents might not believe you, and give more money to scammers, then perhaps they'll believe a detective, agent, AG's office, or other authority. The dong (Vietnamese: ng, Ch Nm: ) (/ d /; Vietnamese: [wm]; sign: or informally in Vietnamese; code: VND) has been the currency of Vietnam since 3 May 1978. Both monetary units are often referred to as scam currencies for good reason. This is a BETA experience. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Also propping up this bad strategy are the media sources reaping big advertising dollars from dealers in dinar and other exotic currencies for stories that support the idea that these securities will revalue, and soon. If you rely on the information on this page then you do so entirely on your own risk. Copyright 2023 MarketWatch, Inc. All rights reserved. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." One financial expert believes that the risk to the Vietnam dong also lies in the fact that the yuan can reverse suddenly when the Fed narrows quantitative easing due to rising inflation. Analysts have yet to issue a Vietnamese dong forecast for 2030. Your mom is lucky. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. Still, the country has managed to reduce poverty dramatically since then. API users can feed a custom application. Welcome to DayStarNet.com! Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. What is the Dong expected to revalue at? Hear My Story https://youtu.be/WWjVO34D1-AWELCOME TO RAPID UPDATES CHANNEL. As it turns out, the scams success is based on a powerful combination of greed, apparent inside information, and the ability to see, feel, and touch the currency. I use these products and if they are awesome, then you should know about it! But bad predictions werent limited to exotic currencies only. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. by denovo Thu Jul 23, 2015 1:02 am, Post Federal Budget Law to 1,450 Iraqi dinars per US dollar. Will the Vietnamese Dong be Revalued Soon? At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% I'd nip this in the bud. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. Ask Larry: I'm 66 -- Will The Earnings Test Still Affect Me? It is issued by the State Bank of Vietnam.The dong was also the currency of the predecessor states of North Vietnam and South Vietnam, having replaced the previously used French Indochinese piastre. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Initially, I just dismissed the questions and put-off the requests, informing clients and other investors that we dont employ or recommend currency-based strategies. That should help prevent others from getting scammed. Ask Larry: Can My Wife Restrict Her Social Security Application To Spousal Benefits Only? It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. ", But the central bank agreed to "improve exchange rate flexibility over time," allowing the dong to move in line with the development of the country's markets and economic fundamentals, and to further modernize and make more transparent its monetary policy and exchange rate framework. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ in the fourth quarter of 2021; to VND 23,000 per US$ in the first quarter of 2022; to VND 23,100 per US$ in the second quarter of 2022; and VND23,200 per US$ in the third quarter of 2022. The Vietnamese dong is expected to remain strong in 2021. A trade surplus and moves by the State Bank of Vietnam (SBV) have supported the dong against other currencies such as the euro (EUR), which is facing its own pressures stemming from the Russia-Ukraine conflict and an economic slowdown. Treasury Vault offers the ability to buy Vietnamese dong at the lowest prices.Our foreign currency prices are updated to stay consistent with current prices. The Vietnamese dong (VND) is the official currency of Vietnam. In my opinion, they dont fit anywhere! Currently, the US dollar is standing at a high level. I wouldn't let a loved one meet these crooks face to face. Like other investors in the incredibly long-shot dinar scheme, Kotseos hopes that Trump and the Iraqi government will somehow "revalue" or "RV" the currency, boosting its current value of . "The two most important days in someone's life are the day that they are born and the day they discover why." The Australian dollar has also weakened, now buying 15,500 dong from 16,400 at the start of 2022. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. Re: Parent caught up in forex (vietnamese dong) scam What should I do? We work hard to stay up-to-date to the every changing needs of our customers, and to meet them perfectly. However, the Vietnam dong is one of the few currencies in the region that has appreciated against the US dollar since the beginning of the year, which is a rare case in the foreign exchange market. The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. dinars. Prior to this, South Vietnam was also dominated by piastre notes. Any further interaction is asking for trouble. A currency revaluation seems unlikely, due to economic turmoil and the difficulty of trading the money outside of Iraq. At the time of writing (30 September), the Vietnamese dong forecast from data aggregator Trading Economics indicated that the USD/VND pair could rise to 24,005.70 in one year, from 23,775.80 at the end of Q3 2022, based on global macro model projections and analysts expectations. Mum will be able to exchange her Dong for USD at any currency exchanger. The currency that Vietnam uses is called the Vietnamese Dong. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. She got off easy. losed Joint Stock Company FinTech Solutions. The feature is also a global feature. As a matter of fact, the. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. by Watty Wed Jul 22, 2015 9:40 pm, Post Conversely, domestic exporters will see a decline in exporting business as the exporting goods are now more expensive to foreign importers. This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. and get more in-depth about this exotic currency. The value of the currency is influenced by Vietnams trade flows, foreign currency reserves, economic growth, interest rates and inflation, as well as US monetary policy. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. In my opinion, they dont fit anywhere! "Yes, investing is simple. Considering the law of supply and demand, the supply of US dollar is high but the demand is small, and the buying price of the US dollar will be cheaper inevitably. If it don't go up, don't buy it. PEO vs Staffing Agencies: Which Is Right for Your Business? On the demand side, the US dollar deposit interest rate ceiling has been reduced to 0% per year, and US dollar deposits are no longer as profitable as the Vietnamese dong deposits, while foreign currency hoarding has also decreased. This is where greed enters the scam and investors compound their losses. Will the Vietnamese Dong RV Revalue? Forbes had an article of the scams in their 3/24/15 issue titled. by JW-Retired Wed Jul 22, 2015 8:53 pm, Post Both monetary units are often referred to as scam currencies for good reason. Affiliate Disclaimer: Thanks for supporting my channel. Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. Cookie Notice (). According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per USD in the fourth quarter of 2021; to VND 23,000 per USD in the first quarter of 2022; to VND 23,100 per USD in the second quarter of 2022; and VND 23,200 per USD in the third quarter of 2022. . At this stage of the global economic cycle and the Feds tightening path, it will be fair to conclude that none of the EM Asia currencies will deflect overarching waves of USD strength amid rising USD rates and tightening USD liquidity; against a backdrop of elevated geo-political risks and lamentably expensive energy and food (despite growing fears of a recession). Scores of people have purchased Iraqi dinars from fast-talking promoters and online currency dealers promising windfall profitssome predicting as much as 1,000 times their original investmentwhen the currency is revalued. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. This type of regime is standard for most major economies. A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. I just wanted to get this transcript of the 2 [], I was invited, or more like urged to be on the Wingit Call on 10/25/2016. A strong trade surplus has supported the dong against the euro, with the exchange rate declining to the 23,000 level from 25,800 at the start of 2022. Or to quote Larsen E. Whipsnade (WC Fields), when he passed along advice given by his grandfather (just before they sprung the trap): I had a cousin who was in to this only it was the Iraqi dinar. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. by Grogs Thu Jul 23, 2015 7:50 pm, Post Trading Economics welcomes candidates from around the world. I reached out to several currency exerts to help me explain the ins and outs of this ridiculous business in an effort to help retirees and other investors avoid falling victim to this and similar currency scams going forward. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. I have no idea if that would work or would just make things even worse. At one point, the US Dollar Index (DXY) measured the dollar volatility with six other key currencies, namely, EURO, JPY, GBP, CAD, SEK, and the CHF. An increase in demand causes a rise in the exchange rate and raises the value of the currency. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ in the fourth quarter of 2021; to VND 23,000 per US$ in the first quarter of 2022; to VND 23,100 per US$ in the second quarter of 2022; and VND23,200 per US$ in the third quarter of 2022. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. He also brought to light a slight problem with buy and sell economics. Ultimately, Iraq ended up devaluing its currency in 2020, meaning that anyone who had invested in 2014 would have lost at least 20% of their money. This is an old scam which has been around at least 10 years. Join us in creating opportunities and sharing ideas to all. Ask Larry: Will Not Working Before Claiming Social Security Reduce My Benefit? Analysts at Maybank noted at the end of August that USD strength has persisted for a tad longer than expected While the VNDs support from trade surplus may not be entirely relied on given weakening external demand, we like to remain constructive on the VND based on its strong economic outlook that can continue to sustain inflows (portfolio/direct investment).. If banks in the US choose to trade them, they make the spreads very wide so that they can make a large enough profit to justify the potential holding period., Scott Smith, Senior Market Analyst for Cambridge Global Payments highlighted another reality facing investors in these currencies. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. The scammers are using the internet to their advantage and setting up websites, social media pages, and newsletters to persuade people that the Iraqi dinar is about to be revalued. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. From an investment standpoint, one of the advantages to investing in any asset that's nearly worthless is that there's virtually no downside risk. 2. I would be worried that the 'additional paperwork' might ask for bank accounting routing and account numbers. Also, there are many factors in play that affect exchange rates and a currencys value, such as a countrys economic performance, the prospect of inflation, capital flows, and plenty of others. Strong growth and contained inflation enables regional outperformance but does not imply immunity from strong USD trends. interest of the countrys economy. What will be the value of Vietnam dong in 2022? After the outbreak of the Covid-19 pandemic, Vietnam lost its net revenue from tourism to the tune of almost US$5 to 6 bn. Have Watchlists? "I believe the State Bank of Vietnams attention to these issues over time not only will address Treasurys concerns, but also will support the further development of Vietnams financial markets and enhance its macroeconomic and financial resilience," Yellen said in the statement. I only recommend products or services I currently use and love. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. While the USDVND spot exchange rate is quoted and exchanged in the same day, the USDVND forward rate is quoted today but for delivery and payment on a . 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