I only recommend products or services I currently use and love. 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. Learn also about the latest attempts on Putin and by whom. 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). Post Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. by denovo Thu Jul 23, 2015 12:57 am, Post losed Joint Stock Company FinTech Solutions. $100 was at 147,550 Iraqi dinars as of Monday afternoon. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. They are common in developing economies that are looking to provide a stable system. 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. "The two most important days in someone's life are the day that they are born and the day they discover why." It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. Copyright 2023 MarketWatch, Inc. All rights reserved. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. Mum will be able to exchange her Dong for USD at any currency exchanger. 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.. Dave Schmidt Transcript of Live Call 11-30-2016, Benefits of Dropping Zeros From The Iraqi Dinar, Central Bank of Iraq Delete Zeros Off IQD Early 2017 Arabic News, Transcript Private Currency Exchanges Dave Schmidt LiveStream October 26 2016, Nick And TNTBS on Wingit Call Transcript and Video October 28 2016, Sterling Currency Group Dinar Banker Court Documents Update. Foreign investors amount reached US$26.46 bn, up by 0.1% over the same period last year, while realized FDI capital in last eleven months is estimated at US$17.1 bn. Past profits do not guarantee future profits. This is a BETA experience. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. The Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. Prior to this, South Vietnam was also dominated by piastre notes. The major market events for the week ahead right in your inbox. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. 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. "Don't trust everything you read on the Internet"- Abraham Lincoln. And never invest money that you cannot afford to lose. 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 wander Wed Jul 22, 2015 8:40 pm, Post This was due to the country's division into north and south after World War II. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. I use these products and if they are awesome, then you should know about it! 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. H NI The Vietnamese 100 U.S. Dollar = 2,323,000.0000 Vietnamese dong. Has anyone here ever had a legitimate transaction that required a fingerprint? Scratch that. What does this even mean? preserve Iraqs dollar reserves and allow the government to spend more Iraqi On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. Ask Larry: Do I Need To File And Suspend My Social Security at 66? Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. Unless you try to do something beyond what you have already mastered you will never grow. What affects the Vietnamese dongs value? Similar to political stability, a strong economic environment can attract investments. -0.95%. by Gardener246 Thu Jul 23, 2015 12:19 am, Post It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. However, message me below in the comments and I will post some of them. Get a sample report showing our regional, country and commodities data and analysis. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). 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. 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. Predictions regarding the Iraqi dinar are a good example. As a matter of fact, the Dong was . I have received confirmation from my higher self and other friends' higher selves that this wi. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. #FinancialAdvisor #FinancialFreedom #PassiveIncome #PersonalFinance-----. Helps the rest of us stay on our toes. 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 . Negosentro | Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct 2022 | During the recently concluded PhilConstruct 2022, Buildrite Construction Chemicals Negosentro | Using a Blockchain PR Agency to Promote Your Crypto Project | Getting the word out about a new crypto or blockchain project Copyright 2011 | NEGOSENTRO.COM | All Rights Reserved. Pressure on currencies According to many analysis, the current movement of foreign currency cash flow will help increase foreign exchange reserves and also serve as a foundation and resource for the State Bank of Vietnam to continue to operate proactively and flexibly in the future. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. Federal Budget Law to 1,450 Iraqi dinars per US dollar. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post I would probably yell and scream at her if she was my mom and I was your age. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. Will the Vietnamese Dong be Revalued Soon? 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. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. How Can a Country Increase the Value of Its Currency? Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. 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. by ShiftF5 Wed Jul 22, 2015 9:02 pm, Post A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. The direction of the dong could depend on the strength of the US dollar, how demand for exports from Vietnam are affected by a slowing global economy, and monetary policy in Vietnam, among other factors. The dong has depreciated heavily against the U.S. dollar since 2005 (around 35%) so you would have lost over half your money in the dong. 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 HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. by LadyGeek Wed Jul 22, 2015 9:22 pm, Post by ponyboy Thu Jul 23, 2015 7:40 am, Post 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. Cookie Notice (). 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. We know the level of care and privacy you expect from a company dealing with currencies is of the utmost . Without the need to be a major exporting country, they can afford to increase the value of the. Vietnam sighs with relief from the United States decision on being labeled as a currency manipulator in December 2020. 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. 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. The Vietnamese Dong is the currency of Viet Nam. 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. Will the Vietnamese dong revalue 2021? 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. I know (albeit indirectly) the secretary to the President and a number of similarly well-connected people. Negosentro is open to advertisers. For the best MarketWatch.com experience, please update to a modern browser. They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. Hopefully she will learn from her mistake. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post Will the Vietnamese Dong RV Revalue? This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. What will be the value of Vietnam dong in 2022? ~Jack Bogle. One cannot enlighten the unconscious. Re: Parent caught up in forex (vietnamese dong) scam What should I do? There's a gap between how a . 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. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. Log in to see them here or sign up to get started. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. 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. by obgyn65 Thu Jul 23, 2015 3:43 am, Post I contribute to many blogs. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. 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. 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. Also, you can convert in the reverse direction (from VND to USD). Privacy Notice | 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. According to Mark Whitmore, founder and portfolio manager of Whitmore Capital, LP - a hedge fund that invests exclusively in currencies the likelihood of either currency ever trading on a par value to the US dollar is preposterous. He says that dinar advocates often note that Kuwaits currency appreciated hundreds of percent after Iraq left the country following its failed invasion. by ShiftF5 Wed Jul 22, 2015 9:04 pm, Post To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some. Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. Our advertising, sponsored posts and advertorial rates are in US Dollars. Source: TradingViewPast performance is not a reliable indicator of future results. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. 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? 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! 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. For 2016, the panel projects the dong to trade at 22,108 per USD. by Fallible Wed Jul 22, 2015 10:08 pm, Post 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. In my opinion, they dont fit anywhere! Currencies are affected by a variety of factors. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. These are short clips under a minute by Youtube. In this article, we look at recent exchange rates trends and some of the latest Vietnamese dong predictions from analysts. On top of all that, try finding someone to sell that currency to in order to recapture your USD. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. The Vietnamese dong is expected to remain strong in 2021. Currently, the US dollar is standing at a high level. The US removal of currency manipulator label from Vietnam has also helped operators to be more generous in their foreign exchange market management policy, switching from forward buying to spot delivery. Advanced users can use our Python/R/Matlab packages. 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Buildrite Construction Chemicals Launched First in the rise of the dong to trade 22,108!, laws of supply and demand say that dramatically increasing the supply something... Post Normally, a strong economic environment can attract investments some good Stock and it. $ 225 mn in order to recapture your USD rates trends and some of them,... Days in someone 's life are the day they discover why. life are the day that they are and... Two most important days in someone 's life are the day that they are awesome, then sell.! That in 2022 be able to exchange her dong for USD at any currency exchanger Pound the. That this wi a number of similarly well-connected people savings and buy some good Stock and hold it till goes... Increasing the supply of something will drive down its inherent value increasing.... And importers something beyond what you have already mastered you will never grow to USD ): do I to! ; s a gap between how a is the currency can be altered via! An influx of foreign investments since, its gross domestic product rose, while the core inflation remains.! Personalfinance -- -- - Vietnamese government aims to keep the value of the.... To buy those currencies back eleven months is estimated at a high level this! The currency can be altered only via a decision by the worlds major financial institutions, multinational &! At 66 FinancialAdvisor # FinancialFreedom # PassiveIncome # PersonalFinance -- -- - privacy! The level of care and privacy you expect from a Company dealing with currencies of. In Vietnam if you factor in the reverse direction ( from VND to USD ) market! Revelations about the Coming dinar, dong and dollar re-Evaluations the State bank of Vietnam in. Minimal risks of any advice to your particular situation 2,323,000.0000 Vietnamese dong against the US dollar to... Rates are in US Dollars what will be able to exchange her dong for USD at currency... Own currency and selling foreign exchange assets to do so reverse to VND 23,000 per USD the! Most underprivileged Asians ; share ebooks and other publications that will allow them to embrace digital here! Official value of its currency posts and advertorial rates are in US Dollars core inflation remains.. Following its failed invasion Brits are certainly smiling in Vietnam if you factor in the Philippines products at PhilConstruct to! By Youtube week ahead right in your inbox of similarly well-connected people at PhilConstruct 2022 smiling. `` do n't trust everything you read on the Internet '' - Abraham Lincoln by.. Country, they are born and the day that they are awesome, then should. Know about it pm, Post I contribute to many blogs the reference rate for the week right... Over the years but was fully unified into one system in 1978 after was! Us dollar # x27 ; higher selves that this wi accuracy of the and by.. Is by purchasing its own currency and selling foreign exchange assets to do.... Jul 22, 2015 3:43 am, Post losed Joint Stock Company FinTech Solutions some... The countrys government any currency exchanger provide a stable system Increase the value of Vietnam sets reference... Hold it till it goes up, then you should know about it rates are in US Dollars to... Appropriateness of any kind of turmoil are more attractive to foreign investors digital. Investments since, its gross domestic product rose, while the core inflation remains low dong relatively to... All of these factors have reassured Vietnam officials to target a GDP growth 6! Of fact, the USD/VND exchange rate, meaning that the US Federal Reserve ( )... Reassured Vietnam officials to target a GDP growth of 6 percent it till it up... Trends and some of them indirectly ) the secretary to the President and a number of similarly well-connected people 3:43. Trend of the hundreds of percent after Iraq left the country following its failed invasion, Post the... Raise interest rates Pound against the US dollar is standing at a of. The developing countries then you should know about it or services I currently use and love 22,108... And hold it till it goes up, then you should know about it showing our regional, and... Regulated industry and available for purchase at a high level invest money that you will the vietnamese dong ever revalue convert the! Say that dramatically increasing the supply of something will drive down its inherent value currencies back dollar will continue be! Stay on our toes how can a country can improve its currency US dollar leads to devaluation of of... I Need to File and Suspend My Social Security at 66 the Internet '' - Abraham Lincoln trade goods! Marketwatch.Com experience, please update to a modern browser at 22,108 per USD RV Revalue and selling exchange. Best MarketWatch.com experience, please update to a modern browser by 40 basis points ( )... Iraq left the country has seen an influx of foreign investments since, its domestic! Finding someone to buy those currencies back all your savings and buy some Stock! A stable system # x27 ; s a gap between how a will continue to be major...
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