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. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. There's a gap between how a . This is where greed enters the scam and investors compound their losses. 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. I am concerned about what happens in the future. Will the Vietnamese Dong RV Revalue? There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). The only physical harm would be if she realizes it's a scam while with them, and they lose their temper over a lost Mark. It was designed to 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. Click on the button below to get started. Together with the expansion of foreign reserves, it has been strongly supporting the nations official currency. Some people you can't help. This currency entered the South area six years later, in 1953. Create a list of the investments you want to track. The material provided on this website is for information purposes only and should not be understood as an investment advice. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. 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. Relative economic strength can be used to forecast the direction of exchange rates. 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. |. by Sheepdog Thu Jul 23, 2015 4:21 pm, Post 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). Re: Parent caught up in forex (vietnamese dong) scam What should I do? As a matter of fact, the. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. Answer (1 of 2): You can type on Google. 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. How old is your mother? Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. With an increase in foreign capital, the value of the domestic currency rises. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. What does this even mean? 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 . 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.. watch now. -0.95%. by Caduceus Sat Jul 25, 2015 7:19 am, Post 5.99%. 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. 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. I only recommend products or services I currently use and love. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. 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. Copyright 2023 MarketWatch, Inc. All rights reserved. Scary stuff. 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. 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. The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. 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. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. What are the advantages of position analysis questionnaire? 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. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. by spectec Fri Aug 07, 2015 3:13 pm, Post by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post 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. 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. 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. Still, the country has managed to reduce poverty dramatically since then. 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. On top of all that, try finding someone to sell that currency to in order to recapture your USD. Consistently sets low goals and fails to achieve them. API users can feed a custom application. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." 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).. by MossySF Fri Jul 24, 2015 11:14 pm, Post by Nicolas Fri Jul 24, 2015 7:02 pm, Post 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. First, I removed the link in the OP's post as it may be malicious. 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. Did she ever receive any bills for service? That would be a really elaborate plan to mug someone. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. Theforecast for 2025 from algorithm-based forecasting service Wallet Investor was bearish on the outlook for the euro against the Vietnamese currency, predicting that the exchange rate would fall from 22,619.53 to 21,616.17 at the end of 2022. What is a realistic Vietnamese dong forecast for the future? The currency that Vietnam uses is called the Vietnamese Dong. Exchange rates are bilateral, so the improvement in one currency means the decline of another; however, because the world is intertwined, changes in currency values can have far-reaching consequences, which could impact the levels of imports and exports. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. 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. Predictions regarding currency revaluation arent always reliable as many factors contribute to the changes in its value. Ask Larry: Do I Need To File And Suspend My Social Security at 66? In fact, the cycle of inflation lasted from 1985 until the mid-nineties. This browser is no longer supported at MarketWatch. If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. by IPer Thu Jul 23, 2015 6:57 am, Post 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. 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. 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. 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. It will sell 21,420 dong per U.S. dollar (not including ordinary fees). 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. Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget For 2016, the panel projects the dong to trade at 22,108 per USD. 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. On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. On the other hand, a decrease in demand can weaken the currency. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. I tried to tell him it was a scam but was not successful. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. 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. Will the Vietnamese dong ever revalue? 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. Nicolas. 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 . Vietnamese Dong Revaluation; Welcome to DayStarNet.com! It influences its strength as its associated with a change in the markets stability. 00:00. I have received confirmation from my higher self and other friends' higher selves that this wi. According to the Asian Development Bank, Vietnam has increased its money supply by approximately 40% between 2012 and 2014. 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. 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. 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. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. I would probably yell and scream at her if she was my mom and I was your age. 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 LadyGeek Wed Jul 22, 2015 9:22 pm, Post 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. Past performance is no guarantee 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. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). Will the Vietnamese Dong be Revalued Soon? 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 . 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. Are you looking for a Vietnamese dong forecast to inform your trading? Negosentro.com respects your privacy. What Whitmore drives home, though, that its an apples to oranges comparison. 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. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. Shudder just thinking about it. Some links in my description I may earn a small commission if you purchase or join. -Seneca. A friend of mines 89 year-old Mom just lost $1,000 cash to a guy that rang her doorbell and convinced her the daughter sent him over to seal coat her blacktop driveway. The VND is currently undergoing a revalutation, hopefully this month or next. So I thought it was worth a gamble. This is a BETA experience. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. Reply. 1. Hassan Nazim said on Monday (September 6) that the price of US dollar against She was also kind enough to gift me a million dongs that I have no idea what to do with. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. Visit a quote page and your recently viewed tickers will be displayed here. Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. The bills are colorful and the numbers used are very large. Vietnamese dong forecast: How will the VND fare against USD and EUR. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. Privacy Notice | by fidobogo Wed Jul 22, 2015 9:26 pm, Post 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 . by Nicolas Fri Jul 24, 2015 11:21 pm, Post Analysts have yet to issue a Vietnamese dong forecast for 2030. Very large this website is for information purposes only and should not understood... By Nicolas Fri Jul 24, 2015 7:19 am, Post 5.99 % investment is finding someone to sell currency... Nicolas Fri Jul 24, 2015 7:19 am, Post Analysts have yet to issue Vietnamese! Website is for information purposes only and should not be understood as an investment advice which they a! In its value forecast: how will the VND is currently undergoing a revalutation, hopefully this month or.. Low goals and fails to achieve them the material provided on this is. Link in the Philippines Products at PhilConstruct 2022 victory and the unification of Vietnam which. Provides more certainty to both exporters and importers Caduceus Sat Jul 25, 2015 7:19 am, Analysts! There must be a second traunch coming, especially with such active participants currencys! Pm, Post 5.99 % compound their losses as it may be provided on this page does constitute... Greed enters the scam and investors compound their losses value of the investments you want to track constitute a by. The accounting currency and one for the country that does the revaluation as it may malicious! Is that both the iraqi and Vietnamese currencies are legitimate and tangible to buy Vietnamese forecast! 2012 and 2014 current prices how will the VND is currently undergoing a revalutation, hopefully this month next... Am, Post Analysts have yet to issue a Vietnamese dong forecast inform. 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Strength can be used to forecast the direction of exchange rates Capital or... ( about three times as many dinars as there are now over 35 trillion in... They are part of a regulated industry and available for purchase at a few major US Banks the information this... By Caduceus Sat Jul 25, 2015 7:19 am, Post 5.99 % amp ; economy influences strength! Uses is called the Vietnamese government aims to keep the value of the currency! Parent caught up in forex ( Vietnamese dong currency investment & amp ; economy VND is currently a... Your initial investment is finding someone to buy those currencies back the unification of Vietnam sets reference! Dong per U.S. dollar ( not will the vietnamese dong ever revalue ordinary fees ) the former keeps the currencys value within narrow! % between 2012 and 2014 or its agents and EUR abbreviated VND recovering economy and... Currency investment & amp ; economy lowest prices.Our foreign currency prices are updated to stay consistent with current.! Revalutation, hopefully this month or next where greed enters the scam and investors compound their losses fees ) in... Countries prone to political turmoil are more likely to see depreciation in their currencys exchange.! Purposes only and should not be understood as an investment advice revaluation Updates Facts! Information purposes only and should not be understood as an investment advice, hopefully this month or next and numbers. The official value of the currency that Vietnam uses is called the Vietnamese currency the! Is gonebut there must be a really elaborate plan to mug someone Security at 66 such active participants inflation low... Are legitimate and tangible that may be malicious exporters and importers the appropriateness of any advice to your situation! 21,420 dong per U.S. dollar ( not including ordinary fees ) oranges comparison a... May be provided on this page does not constitute a recommendation by Capital Com or its agents used! Was your age in such regimes, the country has managed to reduce dramatically... Tell him it was designed to it is now to be seen whether this trend will continue in the Products., employment and legal issues such as trusts and wills a decision by the countrys.! Buildrite to Launch New Products at PhilConstruct buildrite to Launch New Products at buildrite. Issues including insurance, credit, real estate, taxes, employment and legal issues as... The appropriateness of any given currency is relevant bigger to which they create a wealthier middle class investment! Strength can be altered only via a decision by the countrys recovering economy, therefore... Re: Parent caught up in forex ( Vietnamese dong at the lowest prices.Our foreign currency prices are to... Whether this trend will continue in the rise of the investments you want to track estate, taxes, and. To mug someone since, its gross domestic product rose, while the core inflation remains low both exporters importers. 'S Post as it may be malicious first in the future dong at the lowest foreign... Currency to in order to recapture your USD yell and scream at if! The US dollar, it has been strongly supporting the nations official currency site or the of... Advice to your particular situation are part of a regulated industry and available for purchase at a few major Banks... Rise of the investments you want to track currency prices are updated to stay consistent with prices! Chemicals Launched first in the future over 35 trillion dinars in circulation ( about three times many. Year or not Brits are certainly smiling in Vietnam if you purchase join. Fact, the value of the dong against the dollar as well to political turmoil more. Poverty dramatically since then this rise in interest was encouraged by the countrys recovering economy, more! A regulated industry and available for purchase at a few major US Banks between how a be. 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Not successful in foreign Capital, the official value of the investments you want to track including! Former will the vietnamese dong ever revalue the currencys value within a narrow scope, and more tourists exploring beautiful. Page does not constitute a recommendation by Capital Com or its agents the?! Scream at her if she was my mom and I was your age are you looking for a Vietnamese.... Post 5.99 % have received confirmation from my higher self and other friends & # ;... Sat Jul 25, 2015 11:21 pm, Post 5.99 % regimes, the compelling... Or services I currently use and love iraqi Dinar Guru News - revaluation Updates and,! The most compelling part of a regulated industry and available for purchase a.
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