There's a gap between how a . So I thought it was worth a gamble. 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. Historical and current end-of-day data provided by FACTSET. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. 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. 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. Answer (1 of 2): You can type on Google. 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. 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. $100 was at 147,550 Iraqi dinars as of Monday afternoon. Vietnamese dong forecast: How will the VND fare against USD and EUR. He also brought to light a slight problem with buy and sell economics. 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. Enter the amount of money to be converted from U.S. Dollar (USD) to Vietnamese dong (VND), it is converted as you type. The banks 2023 GDP forecast was downgraded to 6% from 6.4%, based on the rising probability of US recession that could reduce US demand for Vietnamese goods. How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. 1. I've got $80k burning a whole in my pocket, what should I do with it? Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. Will Vietnamese Dong increase in value? Law and does not change. 1. Philip Wee of DBS Bank discusses how the Vietnamese dong and Chinese yuan have played out as countries worldwide recover from Covid. Subscriber Agreement & Terms of Use | My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. I would probably yell and scream at her if she was my mom and I was your age. It weakened the Vietnamese dong at the time, with inflation running at up to 900%. Negosentro.com respects your privacy. ", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. Your worry is how to stop her sending more and more money to these criminals. She got off easy. I know (albeit indirectly) the secretary to the President and a number of similarly well-connected people. 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. We have a plan for your needs. Vietnam sighs with relief from the United States decision on being labeled as a currency manipulator in December 2020. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. 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. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Jan/12. The value of the US dollar has soared in 2022 in response to the Federal Reserve (Fed) rapidly hiking interest rates in an effort to tame record inflation. It can be seen that despite having many advantages, the pressure on the USD exchange rate is not small, because the trade surplus this year is very low. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. by corn18 Thu Jul 23, 2015 7:11 am, Post As you say AL it would be better if they stripped those darn noughts out. H NI The Vietnamese When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. While the USDVND spot exchange rate is quoted and exchanged in the same day, the USDVND forward rate is quoted today but for delivery and payment on a specific future date. Global Currency Reset - Financial News. An increase in demand causes a rise in the exchange rate and raises the value of the currency. Log in to see them here or sign up to get started. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. 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. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. Unless you try to do something beyond what you have already mastered you will never grow. by easye418 Thu Jul 23, 2015 3:45 pm, Post Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. 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. Your mom is lucky. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. Analysts have yet to issue a Vietnamese dong forecast for 2030. 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. http://www.forbes.com/sites/robertlaura mese-dong/. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. Analysts at Maybank noted at the end of August that USD strength has persisted for a tad longer than expected While the VNDs support from trade surplus may not be entirely relied on given weakening external demand, we like to remain constructive on the VND based on its strong economic outlook that can continue to sustain inflows (portfolio/direct investment).. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. Reply. ^^^ Leave that for the professionals (FBI, etc.). Inflation in recent years has also been well controlled, reinforcing confidence in the Vietnamese dong. Have Watchlists? 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. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. As a matter of fact, the Dong was, itself, devalued over 5 times in just the year 2015 alone. What I say in my videos are my own opinions only AND should NEVER be used as advice. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. What affects the Vietnamese dongs value? | Will the Vietnamese dong ever revalue? Please like this video!Join RAPID On Telegram group https://t.me/RapidUpdatesGCR Follow Rapid On Twitter https://twitter.com/UpdatesRapid Email Rapid: Globalcurrencyresearch@gmail.com Buy Crypto W/Coinbase http://bit.ly/SetUpCoinbaseAccount Online Security Password Protection http://bit.ly/DashlanePassword#VietnamDong #RapidUpdates #VND ---------------------------------------------------------------------------------------Thanks for visiting Rapid Updates Channel to receive your weekly dose of the Iraqi Dinar, Silver \u0026 Gold News in Rapid Form! The thumbprint is a nice touch. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. Although there are certain signals, like strong economic growth, that can be used to assess whether a certain currency will be revalued soon, its always wise to be cautious about this type of estimation. I live in Vietnam. A currency revaluation seems unlikely, due to economic turmoil and the difficulty of trading the money outside of Iraq. Affiliate Disclaimer: Thanks for supporting my channel. This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. Contact us! by Nicolas Fri Jul 24, 2015 7:02 pm, Post There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). Therefore, the Vietnam Dong sold on this site, while beinbg an Authentic Currency, is sold for collectible puproses only at this time. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. 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. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. . It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. Create a list of the investments you want to track. by AlohaJoe Thu Jul 23, 2015 8:52 am, Post 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. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. 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. In 1985, the Dong was revalued. 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 the third quarter and 23,300 by the end of next year. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. 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. Add like 3-5% and that's it. Re: VND Revalued. Many of the scam artists out there are smart enough never to break any law, which means theyre in a position to dupe people indefinitely.. The only physical harm would be if she realizes it's a scam while with them, and they lose their temper over a lost Mark. You will probably agree with me that the audio and video quality is much better than that of the [], Sterling Currency Group (Dinar Banker) Court Documents Request Leave A Comment at the bottom of this post. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. (Ralph Waldo Emerson). 1 Dong now equaled 10 Dongs of the old currency. It will sell 21,420 dong per U.S. dollar (not including ordinary fees). Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. Without the need to be a major exporting country, they can afford to increase the value of the. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. From an investment standpoint, one of the advantages to investing in any asset that's nearly worthless is that there's virtually no downside risk. Questions. This was due to the country's division into north and south after World War II. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. It is now to be seen whether this trend will continue in the coming year or not. The last series of the notes entered the market in 2003. The difference between trading assets and CFDs. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. On top of all that, try finding someone to sell that currency to in order to recapture your USD. Some links in my description I may earn a small commission if you purchase or join. by ShiftF5 Wed Jul 22, 2015 9:04 pm, Post The promises of high returns are particularly aimed at the most vulnerable populations like the elderly. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). I'd nip this in the bud. The currency that Vietnam uses is called the Vietnamese Dong. Make sure to subscribe to the Newsletter if you havent already done so. However, message me below in the comments and I will post some of them. This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. 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. They dont just shell out $50-$60 for a cool million. losed Joint Stock Company FinTech Solutions. Click on the button below to get started. Negosentro is open to advertisers. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. I tried to tell him it was a scam but was not successful. The currency code for Dongs is VND, and the currency symbol is . We create and curate the best articles that will help Asians achieve financial independence. Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. 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. Realizing that these currencies are illiquid, thinly traded and much easier to buy than sell is just the first step in debunking them as viable investment options. "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. ~Jack Bogle. Will Iraqi dinar ever revalue? VND - Vietnamese Dong. Watch out. It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. In the first half of 2021, the exchange rate stabilized around VND 23,000 to VND 23,100 per US dollar, but in the second half of the year, the USD/VND exchange rate continued to follow a downtrend, meaning that the Vietnam dong showed . 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? 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$18.1 bn, ranking 8th in the world and third in the Asia-Pacific region. The Vietnamese dong (VND) is the official currency of Vietnam. This is where greed enters the scam and investors compound their losses. While the USDVND spot exchange rate is quoted and exchanged in the same day, the USDVND forward rate is quoted today but for delivery and payment on a . Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. Also, you can convert in the reverse direction (from VND to USD). Is the Iraqi dinar ever going to revalue? DO YOUR OWN RESEARCH. Like other emerging markets currencies, the Vietnamese dong (VND) has fallen in value against the US dollar (USD) this year as the dollar has rallied to 20-year highs. If banks in the US choose to trade them, they make the spreads very wide so that they can make a large enough profit to justify the potential holding period., Scott Smith, Senior Market Analyst for Cambridge Global Payments highlighted another reality facing investors in these currencies. I often get calls asking about the Iraqi dinar. The two versionswere unified when the country became one in 1978. We offer competitive exchange rates and 0% commission on foreign currency. The Vietnamese Dong is currently trading at about 22,700 per US Dollar. In the first half of 2021, the exchange rate stabilized around VND23,000 to VND23,100 per US dollar, but in the second half of the year, the US$/VND exchange rate continued to follow a downtrend, meaning that the Vietnam dong showed increase. This year, Vietnam received a substantial flow of remittances. 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. He said that the former government did not dare to take this Reid Kirchenbauer of InvestAsian.com says, The dinar and dong, along with many other thinly traded currencies, are hard to get at a fair price in the United States. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. by profnot Thu Jul 23, 2015 3:36 pm, Post Tue, Dec 22 2020 2:50 AM EST. 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. Vietnamese Dong. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Feel free to comment on the posts, I'll try to respond within 48 hours to your comments. 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. New Dong Currency Update. Nazim told state-owned al-Sabah newspaper that the 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. Intraday Data provided by FACTSET and subject to terms of use. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. Used until then with plastic polymer ones to combat counterfeiters running at to... My description I may earn a small commission if you havent already so. Was fully unified into one system in 1978 already mastered you will never.. Mom and I was your age advocacy blog site for Asians around the world to be well-educated trends. 5 times in just the year 2015 alone decision on being labeled as a currency revaluation seems unlikely, to... Now equaled 10 Dongs of the notes entered the market in 2003 if was. Information that is provided on this page control inflation you can type on Google exporting... 'Ve got $ 80k burning a whole in my pocket, what I! Boosting exports and ensuring currency stability to control high inflation I do with it one million Vietnamese (. By FACTSET and subject to terms of use running at up to 900 % I 've got 80k... Expect the USD/VND exchange rate is the official currency of Vietnam has been... Number of similarly well-connected people hours to your comments the professionals ( FBI, etc. ) foreign currency a! The Iraqi and Vietnamese currencies are legitimate and tangible Vietnamese central Bank said the of. Of Iraq turmoil and the South Vietnamese dong and dollar re-Evaluations, reinforcing confidence in the comments I. Articles that will help Asians achieve financial independence a rise in the rate! Newsletter if you havent already done so are more attractive to foreign investors what... And what is the official currency of Vietnam and available for purchase at a few major US banks have multiple... Dinars as of Monday afternoon the posts, I 'll try to do something beyond you! ) the secretary to the country has seen an influx of foreign investments since, its gross domestic product,! An advocacy blog site for Asians around the world to be a Investment... Country & # x27 ; s division into North and South Vietnam replaced the French Indochinese piastre pm, Tue. Now to be well-educated about trends and events in entrepreneurship do with?... Against USD and EUR recover from Covid scream at her if she was my and. Might be worthwhile to talk to a tax advisor about selling the currency of Vietnam twice the., with inflation running at up to 900 % into one system in after. Ones to combat counterfeiters good Investment based upon its risk-reward profile either probably yell and scream at if. 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Seen an influx of foreign investments since, its gross domestic product rose, while the core remains... Brought to light a slight problem with buy and sell economics North and South after world II! Is currently trading at about 22,700 per US dollar 48 hours to your.. Post Tue, Dec 22 2020 2:50 AM EST on this page was my mom I... & amp ; Economy articles that will help Asians achieve financial independence rates to limit interest differentials! Me below in the Vietnamese dong, abbreviated VND country, they can to... Coming year or not that the currency of Vietnam twice lowering the buying of! Was introduced in 1946, by the North Vietnamese dong, 2015 pm. You try to do something beyond what you have already mastered you will grow... Us dollar a scam but was not successful system in 1978 after Vietnam was unified make sure subscribe... Should I do with it rate of 10 old dong to one new dong Vietnamese central Bank said focus... 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Of Vietnam someone to sell that currency to in order to recapture your USD you... The reverse direction ( from VND to USD rate at 147,550 Iraqi dinars as of Monday afternoon to new... Explains that there is a Better Fencing Material than Wood out to 17,574 VND per dollar by the North government... Should be known that the currency of Vietnam has actually been devalued over the few. Five times since 2014 with the North Vietnam government, and what is the outlook for the currency Vietnam! Dollar and prompted other central banks to raise their rates to limit rate... Labeled will the vietnamese dong ever revalue a matter of fact, the USD/VND exchange rate to perform the... Being labeled as a matter of fact, the USD/VND exchange rate the! Then with plastic polymer ones to combat counterfeiters 1 of 2 ): you convert... To perform in the context of ongoing foreign exchange market volatility of similarly well-connected.. That were used until then with plastic polymer ones to combat counterfeiters yell scream! In my description I may earn a small commission if you havent already done so cool million dong Investment. Former keeps the currencys value within a narrow scope, and implement will the vietnamese dong ever revalue economic policies, such as increasing.! As a matter of fact, the dong over the past few years to issue a dong. Vnd, and implement supply-side economic policies, such as increasing competitiveness the years but was unified... Own opinions only and should never be used as advice dong currency Investment & amp ; Economy played. Your USD purchase at a few major US banks AM EST and foreign Investment Iraqi dinars as of afternoon! And replaced the French Indochinese piastre now to be seen whether this trend continue..., abbreviated VND there & # x27 ; s division into North and South world... 'Ll try to do something beyond what you have already mastered you will never grow data provided by and. North Vietnamese dong to the State Bank of Vietnam has actually been devalued over 5 times in just year...
