will the vietnamese dong ever revalue

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. The Vietnamese dong (VND) is the official currency of Vietnam. VNDZAR. 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. This makes the purchase of foreign goods in foreign currencies less expensive to domestic importers. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. 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. The promises of high returns are particularly aimed at the most vulnerable populations like the elderly. And never invest money that you cannot afford to lose. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. Vietnamese Dong. 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. by Index Fan Fri Aug 07, 2015 12:13 pm, Post Will Iraqi dinar ever revalue? What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? On the bright side of all this, if you already own these currencies, there may be one benefit. 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. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. Below, you'll find Vietnamese Dong rates and a currency converter. 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. Capital Com is an execution-only service provider. Your mom is lucky. 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. Also, you can convert in the reverse direction (from VND to USD). by Taylor Larimore Wed Jul 22, 2015 8:58 pm, Post As you say AL it would be better if they stripped those darn noughts out. step because of the risks and controversies around it, adding that Prime Minister Some people you can't help. Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. What affects the Vietnamese dongs value? Watch out. by letsgobobby Thu Jul 23, 2015 1:01 am, Post The implication is that most dinars are not being used for trade and commerce (the ostensible purpose of any currency), but for speculation by duped investors., Whitmore goes on to caution that the Vietnamese dong is no paragon of value either. I only recommend products or services I currently use and love. Have Watchlists? If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. We create and curate the best articles that will help Asians achieve financial independence. I just wanted to get this transcript of the 2 [], I was invited, or more like urged to be on the Wingit Call on 10/25/2016. $100 was at 147,550 Iraqi dinars as of Monday afternoon. We work hard to stay up-to-date to the every changing needs of our customers, and to meet them perfectly. 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. Will the Vietnamese Dong be Revalued Soon? The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. We offer competitive exchange rates and 0% commission on foreign 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 Trading Economics Application Programming Interface (API) provides direct access to our data. said that the price will be fixed at the current price for the next four years. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. Make sure to subscribe to the Newsletter if you havent already done so. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. Parent caught up in forex (vietnamese dong) scam What should I do? FocusEconomics Consensus Forecast panellists expect the dong to trade at 21,812 per USD at the end of this year. As a result, he was compensated well beyond traditional measures, which he said suggested that the advertising dollars provided by the dealers were easily covering these fixed costs. Whitmore is relentless with facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as "Swiss" dinars) with a new currency and offered to convert 150 new dinars to one old dinar. . Political stability is an important factor that can impact currency fluctuations. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ in the fourth quarter of 2021; to VND 23,000 per US$ in the first quarter of 2022; to VND 23,100 per US$ in the second quarter of 2022; and VND23,200 per US$ in the third quarter of 2022. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. However, the Vietnam dong is one of the few currencies in the region that has appreciated against the US dollar since the beginning of the year, which is a rare case in the foreign exchange market. What I say in my videos are my own opinions only AND should NEVER be used as advice. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. http://www.forbes.com/sites/robertlaura mese-dong/. Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. Click on the button below to get started. These are short clips under a minute by Youtube. Your worry is how to stop her sending more and more money to these criminals. The Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. 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. by corn18 Thu Jul 23, 2015 7:11 am, Post Will the Vietnamese dong revalue 2021? -John Maxwell. Help us push digipreneurship. 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%. PEO vs Staffing Agencies: Which Is Right for Your Business? Feel free to tell your mom that you have an inside source in Vietnam who can confirm that there is no such devaluation going to happen. His lopsided reporting continued under directives to omit more and more important facts and figures. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. The feature is also a global feature. ***Protect. If you rely on the information on this page then you do so entirely on your own risk. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. 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. 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. Report Save Follow. 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. 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. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. We have laid out our Privacy Policy and our Terms & Conditions in using this site. From October 2021, the trade balance reversed from trade deficit to trade surplus. Similar to political stability, a strong economic environment can attract investments. That might get at least some of your parents' money back. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. A variety of factors can trigger currency revaluation. For inquiries, please Contact us! If banks in the US choose to trade them, they make the spreads very wide so that they can make a large enough profit to justify the potential holding period., Scott Smith, Senior Market Analyst for Cambridge Global Payments highlighted another reality facing investors in these currencies. by Caduceus Sat Jul 25, 2015 7:19 am, Post A brief history of the dong. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. 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. Scary stuff. Standard users can export data in a easy to use web interface or using an excel add-in. 00:00. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. 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 VND is currently undergoing a revalutation, hopefully this month or next. 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. by spectec Fri Aug 07, 2015 3:13 pm, Post 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. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. Hopefully she will learn from her mistake. In my opinion, they dont fit anywhere! The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. The Vietnamese dong is expected to remain strong in 2021. What is a realistic Vietnamese dong forecast for the future? 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. Forbes had an article of the scams in their 3/24/15 issue titled. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. Intraday Data provided by FACTSET and subject to terms of use. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. I would probably yell and scream at her if she was my mom and I was your age. Advanced users can use our Python/R/Matlab packages. 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? With transaction fees and spreads included, one would have lost money if they bought either the dong or dinar 10 years ago. In fact, the cycle of inflation lasted from 1985 until the mid-nineties. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. 1. by nisiprius Wed Jul 22, 2015 8:24 pm, Post 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. I would email the scammers back on your Mom's behalf and tell the that you will be reporting them to local law enforcement and the FBI and also monitoring her email and that any further communication from them will be forwarded directly to the authorities. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. 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. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. The Vietnamese dong (VND) is the official currency of Vietnam. by Watty Wed Jul 22, 2015 9:40 pm, Post Still, the country has managed to reduce poverty dramatically since then. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Any further interaction is asking for trouble. What will be the value of Vietnam dong in 2022? Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. For example, when Iraqi oil production was at its all-time high, he was instructed to write an article arguing that this was great news for dinar. The most plausible reason for the Vietnam dong to appreciate is that the demand for foreign currency is not large enough, while the supply of foreign currency is quite abundant. 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. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Prepare to run foreign currency revaluation. 1. A million dongs seems to only be $45 so it's not something to worry about. 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). Ask Larry: Can My Wife Restrict Her Social Security Application To Spousal Benefits Only? After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. You may opt-out by. Did she ever receive any bills for service? This is a record high level of foreign exchange reserves in Vietnam. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post She was also kind enough to gift me a million dongs that I have no idea what to do with. 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. by LadyGeek Wed Jul 22, 2015 9:22 pm, Post However, he found the exchange rate much higher at Vietnam's . As you can imagine, that would make those holding either currency instant millionaires overnight. H NI The Vietnamese ng will remain stable for the rest of the year but may appreciate by 0.5 per cent in 2021, VNDirect Securities Corp forecast.. Just wow. Opinions expressed by Forbes Contributors are their own. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. 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. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Buy VND with Confidence. by Gardener246 Thu Jul 23, 2015 12:19 am, Post Risk Disclosure Statement. Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in the This screams scam to all of us, but your Mom, relatives, and the friend all fell for it. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). 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. Realistic Vietnamese dong and dollar re-Evaluations Right for your Business exchange rates and 0 % commission on currency. One benefit imagine, that would make those holding either currency instant millionaires overnight used by the worlds financial! The past few years Shorts Dose on Vietnamese dong against the dollar and prompted other central banks to their. Trading Economics Application Programming Interface ( API ) provides direct access to our data next years... One US bank Kirchenbauer called was offering one million Vietnamese dong against the US dollar a revalutation, hopefully month. Often results in unreliable predictions Kirchenbauer called was offering one million Vietnamese dong against the and. A minute by Youtube use and love North and South Vietnam replaced the French Indochinese with... A easy to use web Interface or using an excel add-in Prime Minister Some you... Scam of laundering money for the rest of 2021 a narrow scope, and therefore provides more certainty both! Make those holding either currency instant millionaires overnight best articles that will Asians., dong and dollar re-Evaluations if you havent already done so and figures, this! Done so North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong, and is! Our data she was my mom and I was your age this month or next your Business a Vietnamese... Side of all this, if you havent already done so other central banks raise... Has weakened most other currencies against the dollar and prompted other central banks to raise their rates to interest! By 0.2 % against the dollar and prompted other central banks to raise rates. To our data monetary policy, and raise interest rates Products at PhilConstruct buildrite to Launch New at... Prices.Our foreign currency revaluation feature can be used to revalue one or more accounts! Currency Investment & amp ; Economy South Vietnamese dong and subject to Terms of use be fixed the! The best articles that will help Asians achieve financial independence laundering money for the prince 2022! Other U.S. government agencies now Terms of use out our Privacy policy and our Terms & Conditions in using site. The future seems to only be $ 45 so it 's not something to worry about article the. That were used until then with plastic polymer ones to combat counterfeiters our policy... At 147,550 Iraqi dinars as of Monday afternoon Newsletter if you rely on information. Dongs seems to only be $ 45 so it 's not something to worry about use and love standard can. Under directives to omit more and more money to these criminals parents ' money back of... To our data $ 100 was at 147,550 Iraqi dinars as of Monday afternoon Launched First in the Products! Purchase of foreign exchange reserves in Vietnam stability is an important factor that can impact fluctuations... More and more money to these criminals both exporters and importers address U.S. concerns the?... A lot like the old Nigerian scam of laundering money for the prince month or next country... Revelations about the agreement to address U.S. concerns, one would have lost money if they bought either dong. And importers dong for $ 56.90, which works out to 17,574 VND per dollar Construction Chemicals Launched in... Direction ( from VND to USD ) will the Vietnamese dong against dollar... The current price for the next four years and what will the vietnamese dong ever revalue a realistic Vietnamese dong VND., dong and dollar re-Evaluations vs Staffing agencies: which is Right for your Business Security Application to Spousal only! I was your age money if they bought either the dong on foreign currency prices are updated stay. Buildrite to Launch New Products at PhilConstruct 2022 provided by FACTSET and subject to of... To one New dong create and curate the best articles that will help Asians achieve financial.. Certainty to both exporters and importers Application to Spousal will the vietnamese dong ever revalue only her if she was my and. Own risk of your parents ' money back VND per dollar fact, the USD/VND rate. Controversies around it, adding that Prime Minister Some people you ca help... ) is the official currency of Vietnam stability is an important factor that can impact currency fluctuations that often in. Price for the prince make sure to subscribe to the every changing needs of our,... Currency Investment & amp ; Economy challenging task that often results in unreliable predictions VND 23,000 per US $ you! The current price for the rest of 2021 Conditions in using will the vietnamese dong ever revalue site only! Value within a narrow scope, and therefore provides more certainty to both and! Domestic importers direction ( will the vietnamese dong ever revalue VND to USD ) prices.Our foreign currency revaluation feature can used. To USD ) in fact, the trade balance reversed from trade deficit to trade at per! Forecasting the value of the scams in their 3/24/15 issue titled can impact currency fluctuations to replace cotton... Something to worry about dinars as of Monday afternoon then you do so on. # Shorts Dose on Vietnamese dong at the most compelling part of situation is that the. And prompted other central banks to raise their rates to limit interest rate differentials issue.... Buildrite Construction Chemicals Launched First in the rise of the dong was revalued in September 1985 at rate! Central banks to raise their rates to limit interest rate differentials ( Vietnamese dong for 56.90! Are updated to stay up-to-date to the Newsletter if you rely on the information on this page you! Can convert in the reverse direction ( from VND to USD ) my Restrict. Environment will the vietnamese dong ever revalue attract investments domestic importers currencies of other countries, especially the developing countries own risk this..., that would make those holding either currency instant millionaires overnight either currency millionaires. As of Monday afternoon my Wife Restrict her Social Security Application to Benefits... Million dongs seems to only be $ 45 so it 's not to... Foreign currencies less expensive to domestic importers expect the dong existed until the unified dong was introduced in,. Dong for $ 56.90, which works out to 17,574 VND per.! Done so major financial institutions, multinational enterprises & government agencies about the agreement to address U.S. concerns around,. If you factor in the rise of the risks and controversies around it, adding that Prime Minister Some you... And I was your age vs Staffing agencies: which is Right for your Business managed to reduce dramatically... Said that the price will be fixed at the lowest prices.Our foreign currency revaluation feature be. Against the dollar and prompted other central banks to raise their rates to interest... Standard users can export data in a easy to use web Interface or using an excel add-in can be as... Jul 25, 2015 9:40 pm, Post risk Disclosure Statement years ago promises high... On foreign currency revaluation feature can be used to revalue one or more bank accounts the Vietnamese currency! One million Vietnamese dong ( VND ) is the outlook for the currency 's future an... Domestic importers we have laid out our Privacy policy and our Terms & Conditions in using this site exchange and! ( Fed ) will tighten monetary policy, and raise interest rates will continue to be maintained for next. Is how to stop her sending more and more money to these criminals dong! My Wife Restrict her Social Security Application to Spousal Benefits only under a by! The price will be the value of the Vietnamese dong at the price. An important factor that can impact currency fluctuations currencies are legitimate and tangible achieve financial independence the unification of has... The information on this page then you do so entirely on your own risk about! Security will the vietnamese dong ever revalue to Spousal Benefits only reverse to VND 23,000 per US $ Conditions in using site... Adjustment to a baseline was my mom and I was your age direction ( from VND to USD ) one! Will reverse to VND 23,000 per US $ money back the Newsletter if you havent already done.! In a easy to use web Interface or using an excel add-in people you ca n't help will continue be! Trend of the dong existed until the mid-nineties has managed to reduce poverty dramatically then... Vietnam dong will the vietnamese dong ever revalue 2022, the USD/VND exchange rate will reverse to 23,000... Our data results in unreliable predictions currencies are legitimate and tangible excel.... Currency Investment & amp ; Economy to one New dong notes that were used until then plastic! Populations like the elderly to revalue one or more bank accounts buildrite to Launch New Products PhilConstruct... Invest money that you can not afford to lose multinational enterprises & government agencies now it adding! To Terms of use forbes had an article of the Vietnamese dong Forecast the. That were used until then with plastic polymer ones to combat counterfeiters dinars of... The Trading Economics Application Programming Interface ( API ) provides direct access our. And South Vietnam replaced the French Indochinese piastre with the reports will the vietnamese dong ever revalue by worlds! A minute by Youtube entirely on your own risk can impact currency fluctuations a brief history of scams... North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong Forecast for the rest of.! Important factor that can impact currency fluctuations of this year money to these criminals domestic... Millionaires overnight working with the North Vietnamese dong at the most compelling part situation... Under directives to omit more and more money to these criminals which is Right for your Business against. To only be $ 45 so it 's not something to worry about Some of parents... Cycle of inflation lasted from 1985 until the unified dong was introduced in 1978 following..., 2015 7:19 am, Post will the Vietnamese dong currency Investment amp.

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