The two versionswere unified when the country became one in 1978. by TimeRunner Thu Jul 23, 2015 8:04 am, Post by LadyGeek Wed Jul 22, 2015 9:22 pm, Post Nicolas. 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. Global Currency Reset - Financial News. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. (Ralph Waldo Emerson). Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. As a matter of fact, the Dong was . FocusEconomics Consensus Forecast panellists expect the dong to trade at 21,812 per USD at the end of this year. Ask Larry: Can My Wife Restrict Her Social Security Application To Spousal Benefits Only? While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. Federal Budget Law to 1,450 Iraqi dinars per US dollar. A million dongs seems to only be $45 so it's not something to worry about. 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. Will the Vietnamese Dong be Revalued Soon? Conversely, domestic exporters will see a decline in exporting business as the exporting goods are now more expensive to foreign importers. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. The weakness in the Vietnamese currency is a reflection of the strength of the dollar, as the dong has strengthened against the euro, British pound sterling, Australian dollar and Japanese yen as those currencies face greater macroeconomic challenges. 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. 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 major market events for the week ahead right in your inbox. Intraday Data provided by FACTSET and subject to terms of use. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. "Don't trust everything you read on the Internet"- Abraham Lincoln. New Dong Currency Update. and get more in-depth about this exotic currency. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. 2. That should help prevent others from getting scammed. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. What affects the Vietnamese dongs value? My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. I had someone do a transcript of the call. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. Opinions expressed by Forbes Contributors are their own. Right off the bat, then, theres a discrepancy representing a more than a 20% decrease in value. by nisiprius Wed Jul 22, 2015 8:24 pm, Post Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. 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. And never invest money you cannot afford to lose. Low currency value = more exports. Risk Disclosure Statement. That's not nearly as negative a situation as it seems at first glance. by denovo Thu Jul 23, 2015 1:02 am, Post Learn also about the latest attempts on Putin and by whom. Below, you'll find Vietnamese Dong rates and a currency converter. This makes the purchase of foreign goods in foreign currencies less expensive to domestic importers. A country can regulate the exchange rate of its currency to a baseline of its choice, be it the price of gold, wage rates, or a foreign currency. Prior to this, South Vietnam was also dominated by piastre notes. Shudder just thinking about it. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. ^^^ Leave that for the professionals (FBI, etc.). The Vietnamese dong is expected to remain strong in 2021. As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. Our advertising, sponsored posts and advertorial rates are in US Dollars. 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. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. $2500 isnt that much to get scammed. 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. Intraday data delayed at least 15 minutes or per exchange requirements. Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. Parent caught up in forex (vietnamese dong) scam What should I do? Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. 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. 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. The last series of the notes entered the market in 2003. This is a BETA experience. Vietnamese Dong Revaluation; Welcome to DayStarNet.com! 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. 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. -Seneca. 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. Buying Vietnamese Dong & holding for revalue. A currency revaluation increases the value of a currency in relation to other currencies. https://creatorsourceenergy.com/#vietnamesedong #vietnamesedongrv#dongrevalue#currencyrevalue#currenctrevaluevietnamesedong#financialreset2022#financialreset2023 The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. The currency code for Dongs is VND, and the currency symbol is . How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? I've got $80k burning a whole in my pocket, what should I do with it? Feel free to comment on the posts, I'll try to respond within 48 hours to your . Join the 480.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: 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. Negosentro.com respects your privacy. On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. She was also kind enough to gift me a million dongs that I have no idea what to do with. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. It influences its strength as its associated with a change in the markets stability. by Nicolas Fri Jul 24, 2015 11:21 pm, Post After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. How old is your mother? What I say in my videos are my own opinions only AND should NEVER be used as advice. Unlike other countries attempting to bring down double-digit increases in inflation, Vietnams consumer price index increased by 3.94% in September, indicating that the interest rate hikes are intended to maintain exchange rate stability. These are short clips under a minute by Youtube. 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. Have Watchlists? #FinancialAdvisor #FinancialFreedom #PassiveIncome #PersonalFinance-----. 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.. The Vietnamese Dong is expected to trade at 22950.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. He said that the former government did not dare to take this Still, the country has managed to reduce poverty dramatically since then. We do not claim, indicate, suggest, or imply there will ever be an Vietnamese Dong RV (Revalue / revaluation), or a re-denomination of the Vietnam Dong currency. by Nicolas Fri Jul 24, 2015 7:02 pm, Post Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. 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. Currencies are affected by a variety of factors. Forbes had an article of the scams in their 3/24/15 issue titled. They are optimistic because the countrys exports increased rapidly, making a higher trade surplus. by denovo Thu Jul 23, 2015 12:57 am, Post Political stability is an important factor that can impact currency fluctuations. 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. This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. by Gardener246 Thu Jul 23, 2015 12:19 am, Post There are no signs that Iraq may revalue the dinar in the immediate future. Posts: 3961. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. 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. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? If you're not worried about your mom getting pissed, I would do the above and just take it in to your hands and threaten to report them to law enforcement. 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. The unrealized gain or loss transactions that are created during the revaluation process are system-generated. 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. The Trading Economics Application Programming Interface (API) provides direct access to our data. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. This currency entered the South area six years later, in 1953. The feature is also a global feature. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. That would be a really elaborate plan to mug someone. 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. 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. Your worry is how to stop her sending more and more money to these criminals. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). Negosentro is very much open to accept article contributions on entrepreneurship, tech, lifestyle, travel, health and resources on a broad sense. People investing in this currency are probably not aware that they can actually purchase this currency at their local bank, potentially saving up to 50% versus buying from a ripoff company online. What will be the value of Vietnam dong in 2022? Questions. DO YOUR OWN RESEARCH. This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. PEO vs Staffing Agencies: Which Is Right for Your Business? By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. 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. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. 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The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. $100 was at 147,550 Iraqi dinars as of Monday afternoon. With the U.S lifting the trade embargo and laxer governance by the Communist Government, economic prosperity has finally begun. Investing in Vietnamese dong is therefore proving to be a real opportunity for foreign investors, who must nevertheless keep an eye on inflation of the dong. It was designed to The pair could then retreat from the peak above 24,000 to trade at 23,600 by the end of the first quarter of 2023, 23,500 by the end of the second quarter, 23,400 by the end of . Hassan Nazim said on Monday (September 6) that the price of US dollar against A strong trade surplus has supported the dong against the euro, with the exchange rate declining to the 23,000 level from 25,800 at the start of 2022. Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. However, message me below in the comments and I will post some of them. Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. Here is the video I created as I did my YouTube livestream. Ask Larry: I'm 66 -- Will The Earnings Test Still Affect Me? VNDZAR. Scary stuff. losed Joint Stock Company FinTech Solutions. 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. We know the level of care and privacy you expect from a company dealing with currencies is of the utmost . Help us push digipreneurship. With an increase in foreign capital, the value of the domestic currency rises. Click on the button below to get started. Yes, very nice for foreigners. So I thought it was worth a gamble. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. Therefore, the Vietnam Dong sold on this site, while beinbg an Authentic Currency, is sold for collectible puproses only at this time. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. 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. ***Protect. They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. 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. You can read the original Central Bank of Iraq articles which I had translated here: http://dinarrvnews.net/central-bank-iraq-restructuring-iraqi-currency-deleting-zeros/ http://dinarrvnews.net/translated-central-bank-of-iraq-statements-on-iraqi-currency-deletion-of-zeros/ First article: Will the implementation of the project because [], At the request of a few people who were interested in the private exchanges, I went ahead and had this transcribed. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. You should do your own research to develop a view of the currency as an investment. 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. by Watty Wed Jul 22, 2015 9:40 pm, Post 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 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).. Vietnamese dong forecast: How will the VND fare against USD and EUR. The Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. Any further interaction is asking for trouble. watch now. There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. It weakened the Vietnamese dong at the time, with inflation running at up to 900%. 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. All quotes are in local exchange time. They dont just shell out $50-$60 for a cool million. 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. "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. At the beginning of 2021, this index was only at 90.535 points. Get a sample report showing our regional, country and commodities data and analysis. Will the Vietnamese dong ever revalue? VND - Vietnamese Dong. The currency that Vietnam uses is called the Vietnamese Dong. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. The difference between trading assets and CFDs. I also called the FBI and the person there hadn't heard of this specific scam, but did agree that it is a bad idea to go meet anyone. I share my thoughts and ideas I pick up from everywhere I go. 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. Ask Larry: Do I Need To File And Suspend My Social Security at 66? Although he says he voiced concerns about its true impact, he was instructed to present only a rosy side of the story. by Taylor Larimore Wed Jul 22, 2015 8:58 pm, Post Negosentro is open to advertisers. |. Lets review some of its common causes: These changes are an important factor that impacts the value of any given currency. 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. Relative economic strength can be used to forecast the direction of exchange rates. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. First, I removed the link in the OP's post as it may be malicious. I only recommend products or services I currently use and love. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. | According to the State Bank of Vietnam branch in Ho Chi Minh City, the amount of remittances to the City in the last eleven months is estimated at US$6.2 bn and for the whole year they are estimated from US$6.5 bn to about US$6.6 bn. 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. This currency entered the South area six years later, in 1953. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. 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. 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. by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post 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. Unless you try to do something beyond what you have already mastered you will never grow. But bad predictions werent limited to exotic currencies only. However, the State Bank of Vietnam still maintains a flexible and proactive exchange rate management policy, but the existing advantages in the supply of the US dollar remain challenging and cannot be ignored, and which are likely to become prominent issues in the coming year., Since July 2021, the Vietnamese dong has strengthened by 1.3 per cent against the US dollar and the unit has averaged VND23,930 per US dollar in the year-to-October., Vietnamese currency forecast to strengthen against US dollar in 2021, Art exhibition celebrates the Year of the Cat opens in Hanoi, Hanoi to close Hoan Kiem pedestrian area, Old Quarter for Tet activities, Ha Giang listed among worlds top 52 places to go in 2023, VN needs to move forward on global minimum tax, Vietnam team welcomed home after AFF Cup defeat, Deputy PM meets with global business leaders, senior officials at WEF meeting, Enterprises expect State to provide more support to reform business environment, WorldSteel Group opens 2nd office building in Long An, Bad film remakes mustnt be blamed on limited budgets: screenwriter, Agriculture sector seeks new space for development, Renewable energy bidding policy is still not being applied: MOIT, Prunus cerasoides season in Da Lat plateau. 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. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. 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 .
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