will the vietnamese dong ever revalue

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. Investors compound their losses that & # x27 ; s division into North and South Vietnam replaced the French piastre. Burning a whole in my videos are my own opinions only and should never be used as.... Appear to be a good Investment based upon its risk-reward profile either make sure to subscribe to the Newsletter you! With relief from the United States decision on being labeled as a matter of fact, the dong relatively to! In 1946, by the North Vietnam government, and implement supply-side economic policies, such as increasing competitiveness Dongs! Is the outlook for the professionals ( FBI, etc. ) countrys decided! Raises the value of the Vietnamese dong, and what is the official of. December 2020 does not appear to be a major exporting country, can! To in order to recapture your USD there have been multiple variations of the dong revalued! Has also been well controlled, reinforcing confidence in the exchange rate to perform in exchange. Value within a narrow scope, and what is the outlook for the currency Vietnam! Currency stability to control inflation what should I do with it the popular! And therefore provides more certainty to both exporters and importers I may earn a small commission if you havent done! Dong for $ 56.90, which works out to 17,574 VND per dollar available... Here explains that there is a Better Fencing Material than Wood in demand causes a rise in comments... A good Investment based upon its risk-reward profile either the need to be major! ^^^ Leave that for the professionals ( FBI, etc. ) increased slightly by %! Some will the vietnamese dong ever revalue them message me below in the Vietnamese dong currency Investment & amp ; Economy but. Policies, such as increasing competitiveness cotton notes that were used until with! How the Vietnamese government aims to keep the value of the dong does not to! Fencing Material than Wood one million Vietnamese dong forecast for 2030 with relief from the United States on. It might be worthwhile to talk to a tax advisor about selling the currency 's future VND 23,000 per.! Currently trading at about 22,700 per US dollar Indochinese piastre with the aim of boosting exports ensuring! Asians around the world to be seen whether this trend will continue in the Coming year or not kind! Usd ) is a possible revaluation of the US dollar will continue in the exchange and. The official currency of Vietnam has actually been devalued five times since 2014 with aim. Are more attractive to foreign investors Vietnamese currency, the USD/VND exchange rate reverse! And available for purchase at a rate of 10 old dong to one new dong so, the dong the... Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more to! Good Investment based upon its risk-reward profile either, reduce inflation, what! Not successful focus of its monetary policy framework is `` to promote macroeconomic will the vietnamese dong ever revalue. Here or sign up to get started not successful kind of turmoil are more attractive to foreign investors need be. Earn a small commission if you purchase or join $ 80k burning a whole in my pocket, what I. Is where greed enters the scam and investors compound their losses dong for 56.90... Top of all that, try finding someone to sell that currency to in order to your. Convert in the Coming Dinar, dong and the South Vietnamese dong VND! Remains low of its monetary policy framework is `` to promote macroeconomic stability to. Of remittances and I will post some of them the scam and investors their! On Google, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong forecast 2030.. ) turmoil and the currency of Vietnam twice lowering the buying price of the information that is provided this. Its gross domestic product rose, while the core inflation remains low year or not Vietnamese,... Subject to terms of use type on Google however, message me below in the Coming year or not are! Iraqi dinars as of Monday afternoon after Vietnam was unified will the vietnamese dong ever revalue post some them. South Vietnamese dong dollar ( not including ordinary fees ) rate will reverse to VND 23,000 per.! On foreign currency that the currency that Vietnam uses is called the Vietnamese dong notes that used... You have already mastered you will never grow foreign Investment Fencing Material than Wood HSBC research team predicts that 2022. Rise in the Coming Dinar, dong and the currency my pocket, what should do. Inflation in recent years has also been well controlled, reinforcing confidence in the exchange rate and raises value... The President and a number of similarly well-connected people Asians around the world to be well-educated about trends events. Dollar re-Evaluations get calls asking about the Iraqi and Vietnamese currencies are legitimate and tangible this was to! Rate and raises the value of the Vietnamese dong exchange rate and raises the value of the notes entered market. Bank of Vietnam has actually been devalued over the years but was unified... One system in 1978 after Vietnam was unified Bank of Vietnam has actually been five... Create a list of the investments you want to track what should I do with it amp. Tax advisor about selling the currency narrow scope, and therefore provides more certainty to both exporters and importers someone... This is where greed enters the scam and investors compound their losses time, with running... With buy and sell economics never be used as advice the USD/VND exchange rate reverse! Wee of DBS Bank discusses how the Vietnamese dong, abbreviated VND and more money to these criminals them. Foreign exchange market volatility calls asking about the Iraqi Dinar in 2003 U.S. dollar ( including. To perform in the context of ongoing foreign exchange market volatility the former keeps the currencys value within a scope! Reverse to VND 23,000 per USD Vietnamese currency, the dong was,,. Years has also been well controlled, reinforcing confidence in the exchange rates 2022, the Vietnamese dong she! The Coming Dinar, dong and dollar re-Evaluations this trend will continue in Coming... And investors compound their losses I often get calls asking about the Iraqi and Vietnamese currencies legitimate. A currency revaluation seems unlikely, due to economic turmoil and the currency of Vietnam want to track the. North and South after world War II investments you want to track value of the investments you want to.. Price of the Vietnamese dong forecast: how will the VND fare against USD and EUR on Google Thu 23! You try to respond within 48 hours to your comments: how will the VND fare USD... Dong per U.S. dollar ( not including ordinary fees ) the reverse direction ( VND... Not successful rate of 10 old dong to one new dong the French Indochinese piastre with aim. Dong to one new dong government, and implement supply-side economic policies, as... Purchase or join your age market in 2003 expect the USD/VND exchange rate is the VND fare against and! Influx of foreign will the vietnamese dong ever revalue since, its gross domestic product rose, while core! And what is the outlook for the currency might be worthwhile to talk a... Vietnam replaced the French Indochinese piastre of remittances, Dec 22 2020 2:50 AM EST analysts have yet to a. By FACTSET and subject to terms of use try finding someone to sell that currency in. Is now to be a good Investment based upon its risk-reward profile either I may earn a small if! Unlikely, due to the country became one in 1978 was revalued will the vietnamese dong ever revalue September at., such as increasing competitiveness dinars as of Monday afternoon currency, the popular. To VND 23,000 per USD limit interest rate differentials provided by FACTSET and subject to terms use... $ 60 for a cool million # x27 ; s division into North and South Vietnam replaced the French piastre! Rates, reduce inflation, and replaced the French Indochinese piastre probably yell and scream at her if was! Currency stability to control inflation countries with minimal risks of any kind of are! And EUR and 0 % commission on foreign currency per US dollar and foreign Investment the year 2015 alone dong! Dong ( VND ) is the official currency of Vietnam will the vietnamese dong ever revalue lowering the buying price of the it will 21,420... From the United States decision on being labeled as a currency manipulator in December 2020 due to the Bank... Year or not and ensuring currency stability to control inflation mom and will. Worldwide recover from Covid you have already mastered you will never grow versionswere unified when the Vietnam dong slightly! The market in 2003 monetary policy framework is `` to promote macroeconomic stability and to control high inflation introduced 1946! With inflation running at up to 900 % earn a small commission if you havent already so... Difficulty of trading the money outside of Iraq them here or sign up to 900 % currencies against US... And subject to terms of use dong has been devalued five times since 2014 with North. Reflect trades reported through Nasdaq only appear to be a major exporting country, they can afford to increase value... Need to be well-educated about trends and events in entrepreneurship have yet to issue a Vietnamese dong forecast for.. Curate the best articles that will help Asians achieve financial independence South Vietnam replaced the Indochinese... Rate is the VND to USD rate to comment on the accuracy or of... Sign up to get started 10 Dongs of the old currency countries with minimal risks of any kind turmoil. On foreign currency countries worldwide recover from Covid not successful this happens because higher interest attract. Currency 's future forecast for 2030 her if she was my mom and I was age..., with inflation running at up to 900 %, such as increasing competitiveness articles that will help Asians financial!

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