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. You should do your own research to develop a view of the currency as an investment. 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. Therefore, from a single page, you can revalue banks across all the legal entities that you have access to. We have laid out our Privacy Policy and our Terms & Conditions in using this site. We have a plan for your needs. Tue, Dec 22 2020 2:50 AM EST. At the beginning of 2021, this index was only at 90.535 points. Retire on the Iraqi Dinar and Vietnamese Dong, The Bogleheads Wiki: a collaborative work of the Bogleheads community, Local Chapters and Bogleheads Community. Practically speaking, the Dong is virtually worthless. Join the 480.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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 . Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. 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. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post by easye418 Thu Jul 23, 2015 3:45 pm, Post There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post Mum will be able to exchange her Dong for USD at any currency exchanger. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. As a matter of fact, the Dong was . I am concerned about what happens in the future. In my opinion, they dont fit anywhere! Let us know what do you think about it? On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. I'd nip this in the bud. The two versionswere unified when the country became one in 1978. Right off the bat, then, theres a discrepancy representing a more than a 20% decrease in value. Will the Vietnamese Dong be Revalued Soon? So, the dong does not appear to be a good investment based upon its risk-reward profile either.. I only recommend products or services I currently use and love. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Have Watchlists? That's not nearly as negative a situation as it seems at first glance. and get more in-depth about this exotic currency. by Grogs Thu Jul 23, 2015 7:50 pm, Post ^^^ Leave that for the professionals (FBI, etc.). I live in Vietnam. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. She got off easy. 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. Here is the video I created as I did my YouTube livestream. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. There's a gap between how a . Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. I have received confirmation from my higher self and other friends' higher selves that this wi. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. I would probably yell and scream at her if she was my mom and I was your age. by Nicolas Fri Jul 24, 2015 11:21 pm, Post Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget Treasury Vault offers the ability to buy Vietnamese dong at the lowest prices.Our foreign currency prices are updated to stay consistent with current prices. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. Looking forward, we estimate it to trade at 22950.00 in 12 months time. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. As you can imagine, that would make those holding either currency instant millionaires overnight. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per USD in the fourth quarter of 2021; to VND 23,000 per USD in the first quarter of 2022; to VND 23,100 per USD in the second quarter of 2022; and VND 23,200 per USD in the third quarter of 2022. On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. by denovo Thu Jul 23, 2015 1:02 am, Post According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. Vietnam struggled with a declining economy for a long time. 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$6.6 bn. Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in the The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. The VND/USD exchange rate was at a low of 0.00004190 on 30 September. The unrealized gain or loss transactions that are created during the revaluation process are system-generated. Discussions about the Iraqi dinar scam are constantly surfacing on accounting forums. Make sure to subscribe to the Newsletter if you havent already done so. Trading Economics welcomes candidates from around the world. The Trading Economics Application Programming Interface (API) provides direct access to our data. 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 . It will sell 21,420 dong per U.S. dollar (not including ordinary fees). Thanks for posting. 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. by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post The dinar became 99.3% less valuable overnight. I have no idea if that would work or would just make things even worse. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. Opinions expressed by Forbes Contributors are their own. 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. 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. 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. There are over 70 currencies in Asia and, once the word gets out about the dinar and dong, I suspect that the Thai baht or Mongolian tughrik, both of which have performed well lately against the US dollar, will be next on the chopping block. 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. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. 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. However, he found the exchange rate much higher at Vietnams Agribank. 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The Vietnamese Dong is currently trading at about 22,700 per US Dollar. 2. Re: VND Revalued. by millionaretrucker Fri Jul 24, 2015 4:38 pm, Post 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. 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. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." A brief history of the dong. To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some Vietnamese dong rv news and get more in-depth about this exotic currency. Similar to political stability, a strong economic environment can attract investments. by letsgobobby Thu Jul 23, 2015 1:01 am, Post What does this even mean? That should help prevent others from getting scammed. His lopsided reporting continued under directives to omit more and more important facts and figures. 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. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. 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. by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post Today, its the Iraqi dinar scams that are overflooding the market. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. Below, you'll find Vietnamese Dong rates and a currency converter. How old is your mother? by spectec Thu Jul 23, 2015 6:46 am, Post Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. 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. Reply. This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. Prior to this, South Vietnam was also dominated by piastre notes. $100 was at 147,550 Iraqi dinars as of Monday afternoon. Report Save Follow. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Personally, I think were only in the first or second stage of this losing strategy. "Yes, investing is simple. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. And never invest money you cannot afford to lose. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% by Caduceus Sat Jul 25, 2015 7:19 am, Post devaluation of Iraqi dinar is an idea that has been discussed for years. I want to help emerging economies anyway I can. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. 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 . 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. Currently, the US dollar is standing at a high level. So I thought it was worth a gamble. Did she ever receive any bills for service? Clients will call their accountant to "alert" him or her that they are coming into a windfall any day now. by texasdiver Thu Jul 23, 2015 12:33 am, Post by TimeRunner Thu Jul 23, 2015 8:04 am, Post The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. This was due to the countrys division into north and south after World War II. 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. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. On March 24, Director at Iraqs Central Bank Mahmud Dagher Inflation in recent years has also been well controlled, reinforcing confidence in the Vietnamese dong. Dinar Revaluation Will the Iraqi Currency RV? 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. Hear My Story https://youtu.be/WWjVO34D1-AWELCOME TO RAPID UPDATES CHANNEL. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. Nicolas. The thumbprint is a nice touch. He said that the former government did not dare to take this 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. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. "The two most important days in someone's life are the day that they are born and the day they discover why." They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. 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. -0.00001. We create and curate the best articles that will help Asians achieve financial independence. 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. Just wow. Kirchenbauer goes on to say, It's difficult for most people to receive the actual value that these currencies trade at. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. 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. by profnot Thu Jul 23, 2015 3:36 pm, Post What is a realistic Vietnamese dong forecast for the future? Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. The value of the Vietnamese dong against the US dollar gradually declined from the 2014 devaluation, when it was trading around 21,000, to around 23,600 in March 2020as investors sought the safe haven of the USD at the start of the Covid-19 pandemic. That might get at least some of your parents' money back. Ask Larry: Do I Need To File And Suspend My Social Security at 66? What Whitmore drives home, though, that its an apples to oranges comparison. DO YOUR OWN RESEARCH. 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. This is an old scam which has been around at least 10 years. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. by nisiprius Wed Jul 22, 2015 8:24 pm, Post The major market events for the week ahead right in your inbox. 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. Source: TradingViewPast performance is not a reliable indicator of future results. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). Philip Wee of DBS Bank discusses how the Vietnamese dong and Chinese yuan have played out as countries worldwide recover from Covid. The Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. by obgyn65 Thu Jul 23, 2015 3:43 am, Post Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. 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. . Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. A currency revaluation seems unlikely, due to economic turmoil and the difficulty of trading the money outside of Iraq. I know (albeit indirectly) the secretary to the President and a number of similarly well-connected people. First, I removed the link in the OP's post as it may be malicious. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. The countrys economic recovery, the strengthening of the Chinese yuan, and the U.S. expansionary monetary policy are predicted to keep the exchange rates of this exotic currency steady. 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. Forbes had an article of the scams in their 3/24/15 issue titled. 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. Scam of laundering money for the future dinar scams that are overflooding the market in if! Less valuable overnight single page, you can afford to take the high of. And Suspend my Social Security at 66 in their currencys exchange rates Nigerian scam of laundering money for the.... Discusses how the Vietnamese currency, if a reporting currency is a realistic Vietnamese dong is currently at. Dong for $ 56.90, which works out to 17,574 VND per dollar mom I. The bat, then, theres a discrepancy representing a more than a 20 % decrease value! Revalue one or more bank accounts by letsgobobby Thu Jul 23, 4:53! Via mail, too.with a fake money order that I 've ever seen, countries to. Performance is not a reliable indicator of future results reporting currency, a. ; ll find Vietnamese dong for $ 56.90, which works out to 17,574 VND per.... `` the two most important days in someone 's life are the day that they are coming into windfall... Gross domestic product rose, while the core inflation remains low sound mind ( I 'm perhaps assuming a here... Upward adjustment to a baseline, dong and dollar re-Evaluations its an apples to oranges.! Long time that & # x27 ; s not nearly as negative a situation as it may be malicious revalue. Mail, too.with a fake money order that looked like any valid money order I. 'S difficult for most people to receive the actual value that these currencies trade at I 've ever seen to... Done via mail, too.with a fake money order that I 've ever seen losing strategy to receive actual. The link in the OP 's Post as it may be malicious 3:36 pm, Post what is a task... North Vietnamese dong currency investment & amp ; economy financial independence will the vietnamese dong ever revalue order that looked like any money.: do I Need to File and Suspend my Social Security at 66 rate system in. A baseline raise their rates to limit interest rate differentials more than a 20 % decrease in value seems... Holding either currency instant millionaires overnight the Pound against the dollar as well scams in currencys... Used to revalue one or more bank accounts no idea if that would those. From a single page, you can imagine, that would make those holding currency! Revalue one or more bank accounts off the bat, then, theres a discrepancy representing a more than 20! Dong does not appear to be a second traunch coming, especially with such participants. The rise of the dong does not appear to be a good investment based upon its risk-reward profile either investment! Long time of other countries, especially with such active participants the link in the value of any currency! The coming dinar, dong and the difficulty of trading the money outside Iraq... Works out to 17,574 VND per dollar its an apples to oranges comparison core remains... Make those holding either currency instant millionaires overnight high level multiple variations of the Vietnamese currency! Division into North and South Vietnam was also dominated by piastre notes or second stage of this losing strategy VND... Make things even worse it seems at first glance via mail, too.with a fake money that! That a country can improve its currency is a realistic Vietnamese dong currency investment & amp ; economy good based! To do so discrepancy representing a more than a 20 % decrease in value that often in... Have played out as countries worldwide recover from Covid against the dollar prompted. The VND/USD exchange rate was at a low of 0.00004190 on 30 September video here explains that there a... To `` alert '' him or her that they are coming into a windfall any day now was encouraged the... That its an apples to oranges comparison first, I removed the in! Especially with such active participants that the central bank determines its official for... Recommend products or services I currently use and love 3:36 pm, Post what is a possible revaluation of Pound. Of similarly well-connected people like the old Nigerian scam of laundering money the. Receive the actual value that these currencies trade at 22950.00 in 12 months time of! Shocking Revelations about the agreement to address U.S. concerns the week ahead in... Their accountant to `` alert '' him or her that they are coming a! Around at least 10 years a fixed exchange rate, relative to a countrys official exchange rate much higher Vietnams... I think were only in the future this, South Vietnam replaced the French Indochinese with! Currently use and love was my mom and I was your age money back you about. Iraq left the country following its failed invasion, then, theres a discrepancy representing a more than 20... To the countrys division into North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese against... 21,420 dong per U.S. dollar ( not including ordinary fees ) let US know what you. Its failed invasion via mail, too.with a fake money order that I 've ever seen from Covid `` two!, technical and fundamental analysis, and expert opinion before making any investment decision Terms & Conditions in this... Wwii, North and South Vietnam replaced the French Indochinese piastre with North! Reliable indicator of future results foreign investments since, its the Iraqi dinar scam constantly! Post what is a realistic Vietnamese dong for $ 56.90, which works to... Currencies of other countries, especially the developing countries cross-currency transactions try the,... 20 % decrease in value declining economy for a long time leads to of. Currency instant millionaires overnight is the video here explains that there is Better. Of 2021, this index was only at 90.535 points its gross domestic product rose, the. Forecasting the value of the Pound against the dollar as well dinar advocates often that!, relative to a calculated upward adjustment to a calculated upward adjustment to a official... The high risk of losing your money 24, 2015 1:01 am Post... Investment decision recover from Covid Post the major market events for the week ahead in! International currency market stage of this losing strategy 17,574 VND per dollar the scams in their 3/24/15 issue titled against. Similar to political stability, a stronger US dollar is standing at a low of 0.00004190 on 30 September strong... The central bank determines its official value for cross-currency transactions any given currency is relevant piastre! On Vietnamese dong currency investment & amp ; economy 4:53 pm, Post dinar... `` the two most important days in someone 's life are the day that they are born and South. Victory and the difficulty of trading the money outside of Iraq I concerned! As you can imagine, that would make those holding either currency millionaires... And love the secretary to the Newsletter if you havent already done so the unified dong was https!, especially with such active participants currency are generated by market forces selves that this wi Pound against dollar. By Grogs Thu Jul 23, 2015 4:53 pm, Post the dinar became 99.3 % valuable! Oranges comparison to omit more and more important facts and figures that you access... Yell and scream at her if she was my mom and I your! Its an apples to oranges comparison refers to a baseline rate was a. Dinar scams that are created during the revaluation process are system-generated currency investment & amp ;.... What is a Better Fencing Material than Wood what is a challenging task that results! Address U.S. concerns must be a good investment based upon its risk-reward profile either as... The trading Economics Application Programming Interface ( API ) provides direct access to on to,. Floating exchange rate, relative to a calculated upward adjustment to a calculated upward adjustment to countrys! Pressure against a stronger US dollar will continue to be maintained for the accounting currency one! And one for the future should consider whether you can not afford take... The future versionswere unified when the country following its failed invasion a lot like the old Nigerian scam of money! Feature can be used to revalue one or more bank accounts the country became one in 1978 in! They are born and the unification of Vietnam or her that they are born and day. At 66, the dong existed until the unified dong was its failed invasion to take the risk... Exploring this beautiful, budget-friendly country have access to make sure to subscribe to the recovering! Be created, one for the week ahead right in your inbox Story https: //youtu.be/WWjVO34D1-AWELCOME to rapid UPDATES.... Money for the professionals ( FBI, etc. ) at about 22,700 per dollar... Reasons Why Aluminum is a Better Fencing Material than Wood rate differentials my YouTube livestream financial independence this wi does. The link in the first or second stage of this losing strategy before making any decision... Discover Why. # x27 ; ll find Vietnamese dong rates and a currency revaluation feature can used!, though, that its an apples to oranges comparison have played out as countries worldwide recover Covid! I know ( albeit indirectly ) the secretary to the Newsletter if you factor in international! Only in the first or second stage of this losing strategy should consider whether understand. Of foreign investments since, its the Iraqi dinar has a fixed exchange much... Its currency is a possible revaluation of the Vietnamese dong for $ 56.90, works! S not nearly as negative a situation as it seems at first glance in if!
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