The Vietnamese dong is expected to remain strong in 2021. 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 . H NI The Vietnamese This is also the lowest exchange rate in the last five years. She was also kind enough to gift me a million dongs that I have no idea what to do with. Vietnam struggled with a declining economy for a long time. by Taylor Larimore Wed Jul 22, 2015 8:58 pm, Post by corn18 Thu Jul 23, 2015 7:11 am, Post Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. This currency entered the South area six years later, in 1953. A brief history of the dong. 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. |. I tried to find as much evidence as possible to let her know it was a scam and do whatever she could to see if she could get her money back, to no avail. 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. Discussions about the Iraqi dinar scam are constantly surfacing on accounting forums. 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. The USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. ***Protect. Capital Com is an execution-only service provider. Personally, I think were only in the first or second stage of this losing strategy. We work hard to stay up-to-date to the every changing needs of our customers, and to meet them perfectly. Analysts have yet to issue a Vietnamese dong forecast for 2030. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment \u0026 Economy. What Whitmore drives home, though, that its an apples to oranges comparison. Forbes had an article of the scams in their 3/24/15 issue titled. Why is Vietnam dong so low? I contribute to many blogs. 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. ~Jack Bogle. 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. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. #FinancialAdvisor #FinancialFreedom #PassiveIncome #PersonalFinance-----. 87.41% of retail investor accounts lose money when trading CFDs with this provider. by Caduceus Sat Jul 25, 2015 7:19 am, Post 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 official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. Parent caught up in forex (vietnamese dong) scam What should I do? Scary stuff. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Will Vietnamese Dong increase in value? This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. 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 . Ask Larry: I'm 66 -- Will The Earnings Test Still Affect Me? I would be worried that the 'additional paperwork' might ask for bank accounting routing and account numbers. The Vietnamese Dong is currently trading at about 22,700 per US Dollar. Use the training services of our company to understand the risks before you start operations. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. Post For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. There are currently no items in this Watchlist. For the best MarketWatch.com experience, please update to a modern browser. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. If you rely on the information on this page then you do so entirely on your own risk. 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 is now to be seen whether this trend will continue in the coming year or not. Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. Today, its the Iraqi dinar scams that are overflooding the market. Answer (1 of 2): You can type on Google. 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. Be Wary of the Misleading Claims about Revaluation, Cause Marketing | Corporate Social Responsibility, SFMC Journey Builder Best Practices to Vouch For [Infographic], WB Trading Review Of What Makes A Great Day Trader, RDFFLFI or RDF Feed, Livestock & Foods, Inc. is Hosting Training Establishment of UPLB, Using a Blockchain PR Agency to Promote Your Crypto Project. A variety of factors can trigger currency revaluation. Will the Vietnamese Dong RV Revalue? Three reasons to report this to law enforcement authorities: What does your mother say when you flat out tell her it is a scam and her money is gone? All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. At this point, their exports will decrease due to more expensive labor. The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. 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. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. Contact us! by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post by greg24 Fri Aug 07, 2015 4:28 pm, Post History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. 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. How old is your mother? by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post Apparently, it was meant to be re-valuated in the near future (which has always been just out of reach ever since) at which point the face value of the 2 500,000 notes that they bought for about 75 bucks could suddenly be taken at about a cool mill each. As a matter of fact, the. 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 . by Sheepdog Thu Jul 23, 2015 4:21 pm, Post In a recent interview, Mr. Ngo Dang Khoa, Head of Foreign Exchange at Capital Markets and Securities Services at HSBC, commented that in the last five months of this year, as of November 2021, the Vietnam dong has appreciated by about 2% against the US dollar. This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. 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. These videos are for entertainment purposes only. Privacy Notice | 100 U.S. Dollar = 2,323,000.0000 Vietnamese dong. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Whether the Vietnamese dong is a good fit for your investment portfolio depends on your personal circumstances, risk tolerance and how much you intend to invest. http://www.forbes.com/sites/robertlaura mese-dong/. by Nicolas Fri Jul 24, 2015 7:02 pm, Post Below, you'll find Vietnamese Dong rates and a currency converter. Ask Larry: Do I Need To File And Suspend My Social Security at 66? -John Maxwell. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. Trading Economics welcomes candidates from around the world. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. Both monetary units are often referred to as scam currencies for good reason. 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 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. After the outbreak of the Covid-19 pandemic, Vietnam lost its net revenue from tourism to the tune of almost USD 5 to 6 bn. 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. Answer (1 of 5): I would be looking for when there is a major uplift in the Vietnamese economy and the entire nation moves to middle class like around 2024 to 2034 then what I think will happen is the Dong will devalue at first then re-adjust upwards in value, that's when you will be able to make. The investors will purchase the local currency and increase its demand and appreciation. I got just under 36000 VND to 1 the other day. Buying Vietnamese Dong & holding for revalue. 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. by wander Wed Jul 22, 2015 8:40 pm, Post Currently, the US dollar is standing at a high level. His lopsided reporting continued under directives to omit more and more important facts and figures. Will the Vietnamese Dong be Revalued Soon? In my opinion, they dont fit anywhere! The two versionswere unified when the country became one in 1978. 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. by pierremonfrere Thu Jul 23, 2015 6:45 pm, Post This idea has given birth to many "investment" scams, promising 1,000-fold returns to investors who buy dinars at a steep markup. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. Click on the button below to get started. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. For inquiries, please Contact us! I would probably yell and scream at her if she was my mom and I was your age. by letsgobobby Thu Jul 23, 2015 1:01 am, Post At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Re: VND Revalued. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post 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 . 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. by ralph124cf Wed Jul 22, 2015 8:25 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. Cookie Notice (). This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. 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. by Watty Wed Jul 22, 2015 9:40 pm, Post Now, lets dive deeper into what currency revaluation is and what are its main drivers. Subscriber Agreement & Terms of Use | As you say AL it would be better if they stripped those darn noughts out. The thumbprint is a nice touch. 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. Make sure to subscribe to the Newsletter if you havent already done so. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. Affiliate Disclaimer: Thanks for supporting my channel. 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. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. 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. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. I use these products and if they are awesome, then you should know about it! So though a currency revaluation might be good for a country's currency, it makes its goods more expensive, possibly hurting the level of exports. by mhalley Thu Jul 23, 2015 3:41 am, Post 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. Any further interaction is asking for trouble. Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. 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. $2500 isnt that much to get scammed. 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).. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. The State Bank of Vietnam sets the reference rate for the value of the dong 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. A couple months ago my mom called and told about an "investment opportunity" that she had already put her money in, and didn't want me to miss out (or any of my siblings, some of which had already put their money in too). 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. by barnaclebob Wed Jul 22, 2015 9:26 pm, Post "Don't trust everything you read on the Internet"- Abraham Lincoln. by denovo Thu Jul 23, 2015 12:57 am, Post by AlohaJoe Thu Jul 23, 2015 8:52 am, Post 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. Will the Vietnamese Dong revalue 2021? by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post Strong growth and contained inflation enables regional outperformance but does not imply immunity from strong USD trends. Without the need to be a major exporting country, they can afford to increase the value of the. Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. 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! | "All I need are some tasty waves, a cool buzz, and I'm fine." watch now. "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. Shudder just thinking about it. by spectec Fri Aug 07, 2015 3:13 pm, Post 3 Reasons Why Aluminum is a Better Fencing Material than Wood. by easye418 Thu Jul 23, 2015 3:45 pm, Post It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. Has anyone here ever had a legitimate transaction that required a fingerprint? We have laid out our Privacy Policy and our Terms & Conditions in using this site. In fact, the cycle of inflation lasted from 1985 until the mid-nineties. by Gardener246 Thu Jul 23, 2015 12:19 am, Post At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. There are no signs that Iraq may revalue the dinar in the immediate future. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). So I thought it was worth a gamble. The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. 1. 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. Re: Parent caught up in forex (vietnamese dong) scam What should I do? The USD/VND exchange rate on the inter-bank market has fallen sharply twice, to VND22,750 per US dollar in August and to VND22,650 per US dollar in early November. Kirchenbauer goes on to say, It's difficult for most people to receive the actual value that these currencies trade at. DO YOUR OWN RESEARCH. All contributions, guest posts, and sponsored posts will be deemed owned by the publication and its owner/s. 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. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Enter the amount of money to be converted from U.S. Dollar (USD) to Vietnamese dong (VND), it is converted as you type. Similar to political stability, a strong economic environment can attract investments. These are short clips under a minute by Youtube. 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. I have no idea if that would work or would just make things even worse. 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. Are you looking for a Vietnamese dong forecast to inform your trading? At the same time, the value of Vietnam's foreign exchange reserves as reported by BIDV Securities Joint Stock Company (BSC), have reached US$105 bn. https://creatorsourceenergy.com/#vietnamesedong #vietnamesedongrv#dongrevalue#currencyrevalue#currenctrevaluevietnamesedong#financialreset2022#financialreset2023 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%.
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