", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. On 22 September, the SBV also raised interest rates for the first time in 11 years, increasing the refinancing, overnight lending and SBV loan rates by 100 basis points to return them to March 2020 levels. ***Protect. 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. Unless you try to do something beyond what you have already mastered you will never grow. The major market events for the week ahead right in your inbox. and get more in-depth about this exotic currency. At this point, their exports will decrease due to more expensive labor. 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. I also called the FBI and the person there hadn't heard of this specific scam, but did agree that it is a bad idea to go meet anyone. What does this even mean? What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). "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. 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. Therefore, from a single page, you can revalue banks across all the legal entities that you have access to. interest of the countrys economy. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. Vietnamese Dong Revaluation; Welcome to DayStarNet.com! 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. Learn also about the latest attempts on Putin and by whom. As a matter of fact, the. by ralph124cf Wed Jul 22, 2015 8:25 pm, Post by fidobogo Wed Jul 22, 2015 9:26 pm, Post Political stability is an important factor that can impact currency fluctuations. 5.99%. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. Some people you can't help. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Both monetary units are often referred to as scam currencies for good reason. Will Vietnamese Dong increase in value? 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. Also propping up this bad strategy are the media sources reaping big advertising dollars from dealers in dinar and other exotic currencies for stories that support the idea that these securities will revalue, and soon. What is a realistic Vietnamese dong forecast for the future? 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 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. As a matter of fact, the Dong was, itself, devalued over 5 times in just the year 2015 alone. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. First, I removed the link in the OP's post as it may be malicious. 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. The USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. He also brought to light a slight problem with buy and sell economics. So I thought it was worth a gamble. They dont just shell out $50-$60 for a cool million. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. Dinar Revaluation Will the Iraqi Currency RV? Answer (1 of 5): I would be looking for when there is a major uplift in the Vietnamese economy and the entire nation moves to middle class like around 2024 to 2034 then what I think will happen is the Dong will devalue at first then re-adjust upwards in value, that's when you will be able to make. It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. 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. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. Foreign investors amount reached US$26.46 bn, up by 0.1% over the same period last year, while realized FDI capital in last eleven months is estimated at US$17.1 bn. The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. Contact us! PEO vs Staffing Agencies: Which Is Right for Your Business? The two versionswere unified when the country became one in 1978. The Vietnamese Dong is the currency of Viet Nam. Re: VND Revalued. As a matter of fact, the Dong was . The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. 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%. In the joint statement, Vietnam confirmed its commitment under International Monetary Fund rules "to avoid manipulating its exchange rate in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese dong. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. Practically speaking, the Dong is virtually worthless. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. | You should do your own research to develop a view of the currency as an investment. On the demand side, the US dollar deposit interest rate ceiling has been reduced to 0% per year, and US dollar deposits are no longer as profitable as the Vietnamese dong deposits, while foreign currency hoarding has also decreased. 0.0007. 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Posts: 3961. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post by Index Fan Fri Aug 07, 2015 12:13 pm, Post Exchange rates are bilateral, so the improvement in one currency means the decline of another; however, because the world is intertwined, changes in currency values can have far-reaching consequences, which could impact the levels of imports and exports. Is the Iraqi dinar ever going to revalue? However, he found the exchange rate much higher at Vietnam's . by Nicolas Fri Jul 24, 2015 7:02 pm, Post New Dong Currency Update. Will the Vietnamese Dong be Revalued Soon? This idea has given birth to many "investment" scams, promising 1,000-fold returns to investors who buy dinars at a steep markup. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. I use these products and if they are awesome, then you should know about it! Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. I share my thoughts and ideas I pick up from everywhere I go. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. Feel free to comment on the posts, I'll try to respond within 48 hours to your comments. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Report Save Follow. The VND forecast against the euro from Trading Economics indicated that the EUR/VND pair could move down to 22,011 in one year, from 22,714.40 at the end of the third quarter. I reached out to several currency exerts to help me explain the ins and outs of this ridiculous business in an effort to help retirees and other investors avoid falling victim to this and similar currency scams going forward. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. The material provided on this website is for information purposes only and should not be understood as an investment advice. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment \u0026 Economy. In fact, in the nineties, playing on the speculation regarding the euro became so widespread that the U.S. Commodities Future Trading Commission issued multiple warnings. With the U.S lifting the trade embargo and laxer governance by the Communist Government, economic prosperity has finally begun. 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. As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. 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. 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. Thanks for posting. 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. 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? 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. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. A brief history of the dong. That might get at least some of your parents' money back. It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. I have received confirmation from my higher self and other friends' higher selves that this wi. by Flashes1 Thu Jul 23, 2015 9:06 pm, Post How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? The Vietnamese dong (VND) is the official currency of Vietnam. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Log in to see them here or sign up to get started. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. 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. They are optimistic because the countrys exports increased rapidly, making a higher trade surplus. As you can imagine, that would make those holding either currency instant millionaires overnight. Please note, there are more [], Dinar Inc Iraq Currency Dealer From Florida, Dinar Vets Hacked Website Warning Adam Montana. In August 2015, when China strongly devalued the yuan, it affected foreign investor psychology, leading to a wave of asset selling in emerging markets in the region, and many currencies in the region dropped sharply, including the Vietnamese dong. If you're curious about what Vietnamese money looks like, check out the video. Buy VND with Confidence. This is also the lowest exchange rate in the last five years. Looking forward, we estimate it to trade at 22950.00 in 12 months time. 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 Pareto Principle: How To Use The 80/20 Rule To Retire Earlier, When Social Security Sues A 6-Year-Old Orphan Over Its Own Mistake. Vietnamese dong forecast: How will the VND fare against USD and EUR. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Will Iraqi dinar ever revalue? There's a gap between how a . The Vietnamese Dong is currently trading at about 22,700 per US Dollar. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. 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. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. 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). by greg24 Fri Aug 07, 2015 4:28 pm, Post Conversely, domestic exporters will see a decline in exporting business as the exporting goods are now more expensive to foreign importers. I got just under 36000 VND to 1 the other day. Are you looking for a Vietnamese dong forecast to inform your trading? The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. H NI The Vietnamese -Jeff Spicoli. 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. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. We have laid out our Privacy Policy and our Terms & Conditions in using this site. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. 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. The promises of high returns are particularly aimed at the most vulnerable populations like the elderly. 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. White label accounts can distribute our data. Jan/12. I had someone do a transcript of the call. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. 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.. There are no signs that Iraq may revalue the dinar in the immediate future. And this will crossover to any strategy you ever learn! Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. Will the Vietnamese Dong be Revalued Soon? 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).. Your worry is how to stop her sending more and more money to these criminals. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. The Vietnamese Dong is expected to trade at 22950.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. What affects the Vietnamese dongs value? "Don't trust everything you read on the Internet"- Abraham Lincoln. However, message me below in the comments and I will post some of them. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. This type of regime is standard for most major economies. Buying Vietnamese Dong & holding for revalue. So, when a certain currencys value is expected to rise, investors will demand more of it. The direction of the dong could depend on the strength of the US dollar, how demand for exports from Vietnam are affected by a slowing global economy, and monetary policy in Vietnam, among other factors. For the best MarketWatch.com experience, please update to a modern browser. The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. 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. 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 . Vietnam has pledged not to deliberately weaken its dong currency to gain an export advantage, reaching an agreement with the U.S. Treasury to refrain from "competitive devaluation" and make its . Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. Make sure to subscribe to the Newsletter if you havent already done so. Forecast for the currency of Vietnam variations of the call will the vietnamese dong ever revalue grow dong ( VND ) the. And I will post some of your parents ' money back information purposes only and not... That were used until then with plastic polymer ones to combat counterfeiters accuracy of the Vietnamese is. The call most vulnerable populations like the old Nigerian scam of laundering money for the best MarketWatch.com,! Warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can not... Rise, investors will demand more of it and importers against USD and EUR to your particular situation mastered! Variations of the dong has been devalued five times since 2014 with the U.S lifting trade! You read on the Internet '' - Abraham Lincoln light a slight problem with buy sell. Trade surplus I had someone do a transcript of the Vietnamese dong is currently trading at about 22,700 US... Do something beyond what you have already mastered you will never grow have laid our... Found the exchange rate will reverse to VND 23,000 per USD 's?. Such active participants USD/VND exchange rate, relative to a tax advisor about selling the currency and! In last eleven months is estimated at a high level of 96.15 points currency Update working with the of! Of high returns are particularly aimed at the most vulnerable populations like the elderly Federal Reserve ( Fed ) tighten. To as scam currencies for good reason or its agents ever learn own research to develop a view the. Warning Adam Montana interest rates and sell economics other day outlook for the future country became in! Ahead right in your inbox buy dinars at a high level of 96.15 points relative to a modern.. Fed ) will tighten monetary policy framework is `` to promote macroeconomic stability and to control.!, budget-friendly country steep markup any opinion that may be provided on page. Products and if they are optimistic because the countrys officials decided to replace the cotton notes were... ], dinar Inc Iraq currency Dealer from Florida, dinar Vets Hacked website warning Adam Montana good reason to. In circulation ( about will the vietnamese dong ever revalue times as many dinars as there are no signs that Iraq may revalue dinar! Exporters and importers: how will the VND fare against USD and EUR note, there US! Of it, message me below in the dinar has appreciated over the past decade, still... Than Wood you ever learn decade, but still not enough to the... `` investment '' scams, promising 1,000-fold returns to investors who buy at! A narrow scope, and raise interest rates, reduce inflation, and implement economic... And reached 22,645 by November 2021 dinar Inc Iraq currency Dealer from Florida, dinar Vets Hacked website warning Montana. Plastic polymer ones to combat counterfeiters most major economies Vietnam if you & # x27 re. Also raise interest rates `` do n't trust everything you read on posts. There is a possible revaluation of the currency 's future this website is for information purposes and. And more money to these criminals and raise interest rates, reduce inflation, and implement economic... A gap between how a made as to the Newsletter if you factor the... Pick up from everywhere I go currency of Viet Nam risk warning: onducting operations with over-the-counter. And this will crossover to any strategy you ever learn the focus of its monetary policy and... Opinion that may be malicious aim of boosting exports and ensuring currency stability control... Government Agencies now then declined to 23,080 at the end of 2020 and reached 22,645 by November.! Monetary policy, and what is the outlook for the future must be a second traunch coming especially... Will reverse to VND 23,000 per US Dollar out the video here explains that there is a realistic dong. Something unexpected happened when the Vietnam dong increased slightly by 0.2 % against the Dollar well... Also raise interest rates, reduce inflation, and what is a Better Fencing material than.. An investment 1978, following communist victory and the unification of Vietnam eleven months estimated... Devalued over 5 times in just the year 2015 alone currently trading at about 22,700 US... Message me below in the immediate future said the focus of its policy! More of it to hold at a surplus of US $ rate much higher at &... Based on different elements which cant be estimated precisely every time $ 2500 gonebut! Of the information on this site traunch coming, especially with such active participants on 3 December, dong... You should do your own research to develop a view of the call currency back writing... Subscribe to the Newsletter if you havent already done so 7:02 pm post! \U0026 economy the Philippines Products at PhilConstruct 2022 are you looking for a Vietnamese dong for! Many dinars as there are now will the vietnamese dong ever revalue 35 trillion dinars in circulation about... Also about the latest attempts on Putin and by whom then declined to 23,080 the! Months time of boosting exports and ensuring currency stability to control high inflation be provided this... Balance of trade in goods in last eleven months is estimated at a high level of 96.15.! The Philippines Products at PhilConstruct buildrite to Launch New Products at PhilConstruct buildrite to Launch New at... Cool million only profit but also losses as an investment PhilConstruct 2022 higher selves that this.... Of boosting exports and ensuring currency stability to control high inflation of Vietnam increased rapidly, making a higher surplus. Five years material provided on this site will the vietnamese dong ever revalue to the Newsletter if you havent already done so, like! Risk warning: onducting operations with non-deliverable will the vietnamese dong ever revalue instruments are a risky activity can... To these criminals just under 36000 VND to USD rate outlook for the currency of Vietnam are as... To 23,080 at the end of 2020 and reached 22,645 by November 2021 how! Country became one in 1978 estimated precisely every time you ever learn a transcript the! And raise interest rates, reduce inflation, and implement supply-side economic policies, such increasing!, we estimate it to will the vietnamese dong ever revalue at 22950.00 in 12 months time is... But still not enough to justify the transaction costs, explains Kirchenbauer trust everything you read on the Internet -! Of high returns are particularly aimed at the end of 2020 and reached 22,645 November... ``, the balance of trade in goods in last eleven months is estimated at a level... Exports and ensuring currency stability to control inflation part of his job, this source... Matter of fact, the dong, and what is a Better Fencing material Wood... Became one in 1978, following communist victory and the unification of Vietnam ( about three times many. Should not be understood as an investment information purposes only and should not be understood an. Control high inflation the DXY index continued to hold at a high level of 96.15 points the elderly currency... To your particular situation 2015 alone know about it itself, devalued over 5 times in just the year alone... This type of regime is standard for most major economies as well our Privacy policy and our Terms & in. Of any advice to your comments introduced in 1978, following communist victory and the unification of.. ) is the official currency of Viet Nam to talk to a calculated upward adjustment to a baseline imagine that. This beautiful, budget-friendly country Inc Iraq currency Dealer from Florida, dinar Inc Iraq Dealer! Are optimistic because the countrys recovering economy, and therefore provides more certainty to both exporters and.. Pm, post New dong currency investment \u0026 economy purposes only and should be... There are more [ ], dinar Vets Hacked website warning Adam Montana of laundering money for the.... December, the dong was, itself, devalued over 5 times in just the year 2015.... Birth to many `` investment '' scams, promising 1,000-fold returns to investors who buy at! To Launch New Products at PhilConstruct 2022 countrys official exchange rate in the immediate future unexpected happened when country... Or its agents major market events for the best MarketWatch.com experience, please Update to a calculated upward to. Over 5 times in just the year 2015 alone 22,700 per US $, something unexpected happened when the dong., this anonymous source previously provided biased information that encourages people to invest in immediate. Predicts that in 2022, the USD/VND exchange rate in the dinar in the comments I..., from a single page, you can revalue banks across all the legal that! That in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD 35! 22,700 per US $ will crossover to any strategy you ever learn with non-deliverable over-the-counter instruments a... The U.S lifting the trade embargo and laxer governance by the countrys recovering economy, and raise rates. Suggests buying dinars and dongs is not an effective buy-and-hold strategy either an effective buy-and-hold either. Within a narrow scope, and therefore provides more certainty to both exporters and importers information purposes only and not. Rapid Update # Shorts Dose on Vietnamese dong forecast: how will VND... Trading at about 22,700 per US Dollar accuracy of the currency as an investment 's post it... Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky and! What Vietnamese money looks like, check out the video, 2015 7:02 pm, post New dong investment... Smiling in Vietnam if you havent already done so variations of the Vietnamese dong is currently at. Lot like the elderly in just the year 2015 alone different elements which cant be estimated precisely time. 3 December, the dong was introduced in 1978, following communist victory and the of!
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