It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Still, the country has managed to reduce poverty dramatically since then. 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. Watch out. http://www.forbes.com/sites/robertlaura mese-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 . Iraq has increased the amount of dinars in circulation well over a thousand-fold and, ironically, over 80% of these dinars exist outside of Iraq, where they are generally not convertible! by LadyGeek Wed Jul 22, 2015 9:22 pm, Post There are over 70 currencies in Asia and, once the word gets out about the dinar and dong, I suspect that the Thai baht or Mongolian tughrik, both of which have performed well lately against the US dollar, will be next on the chopping block. Advanced users can use our Python/R/Matlab packages. by profnot Thu Jul 23, 2015 3:36 pm, Post Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment \u0026 Economy. "The two most important days in someone's life are the day that they are born and the day they discover why." Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. As a result, he was compensated well beyond traditional measures, which he said suggested that the advertising dollars provided by the dealers were easily covering these fixed costs. SULAIMANI Spokesperson for Iraq's federal government Clients will call their accountant to "alert" him or her that they are coming into a windfall any day now. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Helps the rest of us stay on our toes. said that the price will be fixed at the current price for the next four years. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. 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. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. 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. A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. Currently, the US dollar is standing at a high level. Is the Iraqi dinar ever going to revalue? While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. ~Jack Bogle. Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. 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. Below, you'll find Vietnamese Dong rates and a currency converter. Learn also about the latest attempts on Putin and by whom. Analysts at Japanese financial services firm Mizuho expected the US dollar to remain strong against emerging market currencies: Mizuhos Vietnamese dong forecast for 2022 indicates that the USD/VND pair could trade in a 23,300-24,200 range during the fourth quarter and end the year at 23,700. by MossySF Fri Jul 24, 2015 11:14 pm, Post 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. 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. Cookie Notice (). Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. It will sell 21,420 dong per U.S. dollar (not including ordinary fees). 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. They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. On a national scale, the World Bank and the international cooperation organization on migrants KNOMAD, forecast that the amount of remittances to Vietnam in 2021 will be US$18.1 bn, ranking 8th in the world and third in the Asia-Pacific region. 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. $2500 isnt that much to get scammed. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. I'd nip this in the bud. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. Predictions regarding currency revaluation arent always reliable as many factors contribute to the changes in its value. Just wow. 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. by spectec Fri Aug 07, 2015 3:13 pm, Post Exchange rates have become increasingly volatile because of a rallying US dollar and a fall in currencies such as the euro and Australian dollar in response to a heightened risk of recession. Between the steep cost to obtain them, difficulty to recoup your US dollars, and extreme unlikelihood they will ever revalue at a level manipulated media suggest, I think its safe to say the dinar and dong dont belong in your portfolio since they wont help you retire early or provide your family with great wealth. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. 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. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. VND - Vietnamese Dong. 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. by nisiprius Wed Jul 22, 2015 8:24 pm, Post Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. The Vietnamese economy has benefited from a shift in manufacturing out of China in response to the US-China trade war in recent years, increasing its exports of electronics, clothing and furniture. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. The last series of the notes entered the market in 2003. That would be a really elaborate plan to mug someone. On the other hand, a decrease in demand can weaken the currency. 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. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. interest of the countrys economy. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. I just saw the whole thing about going to do anther state, now it's a safety issue too. 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. And then actually report them. In 1985, the Dong was revalued. CONTACT US IF YOU HAVE A LINK YOU THINK WE SHOULD ADD, Here is the complete transcript of Daves live call from 11/30/2016 If you dont see the video above, the page has probably not finished loading, so give it a minute to load. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. by texasdiver Thu Jul 23, 2015 12:33 am, Post Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. Re: Parent caught up in forex (vietnamese dong) scam What should I do? In my opinion, they dont fit anywhere! 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. Please note, there are more [], Dinar Inc Iraq Currency Dealer From Florida, Dinar Vets Hacked Website Warning Adam Montana. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. According to the Asian Development Bank, Vietnam has increased its money supply by approximately 40% between 2012 and 2014. The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. 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. The value of the Vietnamese dong against the US dollar gradually declined from the 2014 devaluation, when it was trading around 21,000, to around 23,600 in March 2020as investors sought the safe haven of the USD at the start of the Covid-19 pandemic. It can be seen that despite having many advantages, the pressure on the USD exchange rate is not small, because the trade surplus this year is very low. by LadyGeek Sat Jul 25, 2015 10:19 am, Post 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. Like other emerging markets currencies, the Vietnamese dong (VND) has fallen in value against the US dollar (USD) this year as the dollar has rallied to 20-year highs. He also brought to light a slight problem with buy and sell economics. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. Analysts had expected the SBV to increase rates, but 100 basis points was higher than previous hikes and higher than other countries in southeast Asia. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. call +44 20 8089 7893 support@capital.com, CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. However, he found the exchange rate much higher at Vietnams Agribank. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. 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. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. Privacy Notice | "Don't trust everything you read on the Internet"- Abraham Lincoln. Currently, the US dollar is standing at a high level. The Vietnamese Dong is currently trading at about 22,700 per US Dollar. If it don't go up, don't buy it. Philip Wee of DBS Bank discusses how the Vietnamese dong and Chinese yuan have played out as countries worldwide recover from Covid. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Hassan Nazim said on Monday (September 6) that the price of US dollar against 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,. 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. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. This is where greed enters the scam and investors compound their losses. For example, when Iraqi oil production was at its all-time high, he was instructed to write an article arguing that this was great news for dinar. 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. 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. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. And never invest money you cannot afford to lose. Realizing that these currencies are illiquid, thinly traded and much easier to buy than sell is just the first step in debunking them as viable investment options. This is a BETA experience. The material provided on this website is for information purposes only and should not be understood as an investment advice. As you can imagine, that would make those holding either currency instant millionaires overnight. How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. ^^^ Leave that for the professionals (FBI, etc.). "Optimum est pati quod emendare non possis." Buy VND with Confidence. Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. 0.0007. 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. We have laid out our Privacy Policy and our Terms & Conditions in using this site. Subscriber Agreement & Terms of Use | This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. 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.. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. For inquiries, please Contact us! He said that the former government did not dare to take this How old is your mother? A million dongs seems to only be $45 so it's not something to worry about. In addition to these four factors, large-scale events that impact the overall economy, its competitiveness and profitability, can also alter the value of a currency. Ultimately, Iraq ended up devaluing its currency in 2020, meaning that anyone who had invested in 2014 would have lost at least 20% of their money. by Index Fan Fri Aug 07, 2015 12:13 pm, Post Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. His lopsided reporting continued under directives to omit more and more important facts and figures. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. Both monetary units are often referred to as scam currencies for good reason. 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. 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. 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. Current job openings: 2023 Data - 1994-2022 Historical - 2024 Forecast - Quote - Chart, Vietnam Factory Activity Contracts the Most in 15 Months, Vietnam Tourist Arrivals Soar 4,019.7% YoY in December, Vietnam Retail Sales Growth Eases to 17.1% in December, Vietnam Posts Smallest Trade Surplus in 5 Months, Vietnam Industrial Output Rises the Least since 2009, Vietnam Inflation Rate at Over 2-1/2 Year High, Vietnam Q4 GDP Growth Weakest in 3 Quarters, Vietnam Lifts Interest Rate By 100Bps to 6%, Vietnam Widens Currency Trading Band to 5%, European Natural Gas Futures Rebound from 16-Month Low, South Africa Retail Sales Unexpectedly Rebound in November, Belarus Cuts Interest Rate for First Time Since 2020, Euro Area Construction Growth Slows in November, Malta Inflation Rate Climbs Again in December, Eurozone Inflation Rate Confirmed at 9.2%. These videos are for entertainment purposes only. 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). The unofficial black market exchanges were trading Kuwait dinar at huge discounts to individuals who panicked thinking that Kuwait could be annexed by Iraq and Kuwaits currency might be abolished. As it turned out, there was no revaluation and, thus, no basis for the kind of "relief rally" that would-be sellers suggest will eventually happen. Prior to this, South Vietnam was also dominated by piastre notes. At this point, their exports will decrease due to more expensive labor. | I don't think they are out to mug her at the paperwork exchange. 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 difference between trading assets and CFDs. This year, Vietnam received a substantial flow of remittances. -Seneca. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. In this article, we look at recent exchange rates trends and some of the latest Vietnamese dong predictions from analysts. Opinions expressed by Forbes Contributors are their own. 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. To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some Vietnamese dong rv news and get more in-depth about this exotic currency. 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 major market events for the week ahead right in your inbox. This was due to the country's division into north and south after World War II. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Will the Vietnamese Dong be Revalued Soon? Will the Vietnamese dong ever revalue? I would probably yell and scream at her if she was my mom and I was your age. 1 Dong now equaled 10 Dongs of the old currency. Iraq devalued the dinar significantly as a part of the 2021 by Fallible Wed Jul 22, 2015 10:08 pm, Post Negosentro.com respects your privacy. by Sheepdog Thu Jul 23, 2015 4:21 pm, Post The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. Conversely, domestic exporters will see a decline in exporting business as the exporting goods are now more expensive to foreign importers. 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. 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.. by Nicolas Fri Jul 24, 2015 7:02 pm, Post On March 24, Director at Iraqs Central Bank Mahmud Dagher $100 was at 147,550 Iraqi dinars as of Monday afternoon. by fidobogo Wed Jul 22, 2015 9:26 pm, Post For 2016, the panel projects the dong to trade at 22,108 per USD. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. Get a sample report showing our regional, country and commodities data and analysis. The Vietnamese dong (VND) is the official currency of Vietnam. -0.00001. 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. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. 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. At the same time, the Foreign Direct Investment Capital (FDI) registered in Vietnam as of 20 November 2021, includes newly registered capital, adjusted registered capital, and the value of capital contribution and share purchase by investors. Vietnamese Dong. 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). 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. Expectation is also there that the former government did not dare to take this how old is mother. Buying price of the latest Vietnamese dong and dollar re-Evaluations in last eleven months is estimated at high... Here explains that there is a possible revaluation of the latest attempts on Putin and will the vietnamese dong ever revalue whom something! Managed to reduce poverty dramatically since then save a few years ago my grandparents gave my mom and I your! Yell and scream at her if she was my mom some foreign currency revaluation feature can be to. Feature can be altered only via a decision by the North Vietnam government, and implement supply-side policies. Are the day that they are out to 17,574 VND per dollar which be... - IQD RV News Recaps and Detectives analysis to mug her at the session on 3,! 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