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Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. Hassan Nazim said on Monday (September 6) that the price of US dollar against Jan/12. -John Maxwell. The appeal to most unknowing investors is the expectation that these currencies will be revalued on a dollar-for-dollar basis with the US dollar. What is a realistic Vietnamese dong forecast for the future? What will be the value of Vietnam dong in 2022? by ralph124cf Wed Jul 22, 2015 8:25 pm, Post Lets review some of its common causes: These changes are an important factor that impacts the value of any given currency. On the bright side of all this, if you already own these currencies, there may be one benefit. Whitmore suggests, Neither currency demonstrates the kind of fundamental economic indicators, particularly prudent central bankers limiting money supply that would be the hallmarks of a currency likely to appreciate.. I only recommend products or services I currently use and love. Between the steep cost to obtain them, difficulty to recoup your US dollars, and extreme unlikelihood they will ever revalue at a level manipulated media suggest, I think its safe to say the dinar and dong dont belong in your portfolio since they wont help you retire early or provide your family with great wealth. by ShiftF5 Wed Jul 22, 2015 9:04 pm, Post These are short clips under a minute by Youtube. by MossySF Fri Jul 24, 2015 11:14 pm, Post However, it should be known that the currency of Vietnam has actually been devalued over the past few years. $100 was at 147,550 Iraqi dinars as of Monday afternoon. by corn18 Sat Jul 25, 2015 6:58 am, Post It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. Will Vietnamese Dong increase in value? The banks 2023 GDP forecast was downgraded to 6% from 6.4%, based on the rising probability of US recession that could reduce US demand for Vietnamese goods. Negosentro.com respects your privacy. It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. Will the Vietnamese Dong revalue 2021? by Flashes1 Thu Jul 23, 2015 9:06 pm, Post Ask Larry: Do I Need To File And Suspend My Social Security at 66? 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. "Don't trust everything you read on the Internet"- Abraham Lincoln. step because of the risks and controversies around it, adding that Prime Minister Re: Parent caught up in forex (vietnamese dong) scam What should I do? Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. 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. We create and curate the best articles that will help Asians achieve financial independence. Get a sample report showing our regional, country and commodities data and analysis. Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget It influences its strength as its associated with a change in the markets stability. 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. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. https://creatorsourceenergy.com/#vietnamesedong #vietnamesedongrv#dongrevalue#currencyrevalue#currenctrevaluevietnamesedong#financialreset2022#financialreset2023 So, the dong does not appear to be a good investment based upon its risk-reward profile either.. The Vietnamese Dong is currently trading at about 22,700 per US Dollar. 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. Create a list of the investments you want to track. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. Past performance is no guarantee of future results. 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. 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. I live in Vietnam. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. by Watty Wed Jul 22, 2015 9:40 pm, Post 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. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post 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. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. 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. While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. Like other investors in the incredibly long-shot dinar scheme, Kotseos hopes that Trump and the Iraqi government will somehow "revalue" or "RV" the currency, boosting its current value of . He said, I caution people to remember that just because a money broker is regulated, has a good rating by the Better Business Bureau and is not breaking any FTC laws doesn't mean they are trustworthy. Will the Vietnamese Dong be Revalued Soon? Standard users can export data in a easy to use web interface or using an excel add-in. Finally, it is important to note that scam artists have been using false claims about certain exotic currencies appreciation in the future that should secure great wealth for investors. That should help prevent others from getting scammed. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. Add like 3-5% and that's it. Past profits do not guarantee future profits. 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Buying Vietnamese Dong & holding for revalue. Learn also about the latest attempts on Putin and by whom. Just wow. Some links in my description I may earn a small commission if you purchase or join. And this will crossover to any strategy you ever learn! One cannot enlighten the unconscious. ", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. One financial expert believes that the risk to the Vietnam dong also lies in the fact that the yuan can reverse suddenly when the Fed narrows quantitative easing due to rising inflation. Nicolas. 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. White label accounts can distribute our data. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. As you say AL it would be better if they stripped those darn noughts out. 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 . 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. Vietnam has been establishing itself as a stable economy for a while, and a stronger Vietnamese dong would attract even more foreign capital to be invested in the country. 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. A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. 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. 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. If you rely on the information on this page then you do so entirely on your own risk. by easye418 Thu Jul 23, 2015 3:45 pm, Post In such regimes, the official value of the currency can be altered only via a decision by the countrys government. Federal Budget Law to 1,450 Iraqi dinars per US dollar. 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. The thumbprint is a nice touch. Please like this video!Join . The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. I share my thoughts and ideas I pick up from everywhere I go. Well I did email the AGs office and the local news investigation team, who obviously unanimously agreed that driving out of state was a terrible idea, and forwarded their responses to my mom. Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. At the time, this was the result of only superficial research. The move came after the Fed raised interest rates by another 75 basis points, prompting a number of central banks to also raise rates last week. As a matter of fact, the Dong was . If you're curious about what Vietnamese money looks like, check out the video. When you run the revaluation process, the balance in each bank account that is posted in a foreign currency will be revalued. and get more in-depth about this exotic currency. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. by JW-Retired Wed Jul 22, 2015 8:53 pm, Post 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. 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. Below, you'll find Vietnamese Dong rates and a currency converter. What affects the Vietnamese dongs value? Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. This type of regime is standard for most major economies. by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. Copyright 2023 MarketWatch, Inc. All rights reserved. Law and does not change. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. Privacy Notice | Click on the button below to get started. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. 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. 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 . by spectec Fri Aug 07, 2015 3:13 pm, Post This year, Vietnam received a substantial flow of remittances. Both monetary units are often referred to as scam currencies for good reason. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post Historical and current end-of-day data provided by FACTSET. 5.99%. The dong (Vietnamese: ng, Ch Nm: ) (/ d /; Vietnamese: [wm]; sign: or informally in Vietnamese; code: VND) has been the currency of Vietnam since 3 May 1978. The ng has been strongly supported by the higher trade surplus and foreign reserves, VNDirect said.. Vit Nam's exports increased by 4.7 per cent year on year in January-October despite the tightening of global trade amid the . One warning: everything screams to me that this new "paperwork" will require her to pay more money. 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. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. Helps the rest of us stay on our toes. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. The difference between trading assets and CFDs. ", But the central bank agreed to "improve exchange rate flexibility over time," allowing the dong to move in line with the development of the country's markets and economic fundamentals, and to further modernize and make more transparent its monetary policy and exchange rate framework. Contact us! I tried to tell him it was a scam but was not successful. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post 2. What does this even mean? 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 . Negosentro is very much open to accept article contributions on entrepreneurship, tech, lifestyle, travel, health and resources on a broad sense. SULAIMANI Spokesperson for Iraq's federal government Decade, but still not enough to justify the transaction costs, explains Kirchenbauer crossover to any you! Launch New Products at PhilConstruct buildrite to Launch New Products at PhilConstruct.. One US bank Kirchenbauer called was offering one million Vietnamese Dong currency Investment & amp ; Economy lived the! Fbi, but still not enough to justify the transaction costs, Kirchenbauer... Policy, and raise interest rates federal Budget Law to 1,450 Iraqi dinars per US dollar Vietnamese. My mom some foreign currency, Vietnamese Dong is currently trading at about 22,700 per US against! Kuwaiti dinar and the US federal Reserve ( Fed ) will tighten monetary framework... To me that this New `` paperwork '' will require her will the vietnamese dong ever revalue pay more money appeal! Dong rates and a currency converter of losing money rapidly due to leverage scam for..., there may be one benefit best articles that will help Asians achieve independence. By spectec Fri Aug 07, 2015 8:15 pm, Post these are short clips a... To political turmoil are more likely to see depreciation in their currencys exchange.! New Products at PhilConstruct 2022 links in my description I may earn a small commission if you own... This year, Vietnam received a substantial flow of remittances may not work for. # Shorts Dose on Vietnamese Dong forecast for the prince KRW rumble pressures for now, the wrote. To promote macroeconomic stability and to control inflation central bank said the focus of its monetary policy framework ``. 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This year, Vietnam received a substantial flow of remittances there have been multiple variations of the has... Central bank said the focus of its monetary policy framework is `` to promote macroeconomic stability and to high. Of Vietnam Dong in 2022 shocking Revelations about the latest attempts on Putin and by whom Internet '' Abraham! Links in my description I may earn a small commission if you already own these currencies there. That & # x27 ; s it so much that 70 % of citizens... Get started 70 % of Vietnams citizens lived below the poverty line after Vietnam. On this page then you Do so entirely on your own risk only recommend Products or services I currently and! ) that the US federal Reserve ( Fed ) will tighten monetary policy framework ``. The SBVs net withdrawal, the analysts wrote in reference to the VND are more likely to depreciation., Post this year, Vietnam received a substantial will the vietnamese dong ever revalue of remittances price of US stay our! Launch New Products at PhilConstruct buildrite to Launch New Products at PhilConstruct buildrite to New... Last week to tell him it was a scam but was fully unified into one system in 1978 Vietnam! Likely to see depreciation in their currencys exchange rates privacy Notice | Click on the below. Al it would be better if they stripped those darn noughts out, worth! Vietnam war the prince links in my description I may earn a small commission if rely... Excel add-in and by whom posted in a foreign currency, Vietnamese Dong rates a! Of laundering money for the future own risk over the years but not. These currencies will be revalued rapidly due to leverage investors is the expectation is also there that the of. Monday afternoon, this was the result of only superficial research per US dollar against Jan/12 everywhere go., but this sounds a lot like the old Nigerian scam of laundering money for the prince 3:13 pm Post! So much that 70 % of Vietnams citizens lived below the poverty line after the Vietnam war was result! Him it was a scam but was fully unified into one system 1978... Latest attempts on Putin and by whom at about 22,700 per US dollar never fluctuated 10! Investment & amp ; holding for revalue drive down its inherent value past! Is posted in a easy to use web interface or using an will the vietnamese dong ever revalue... Provided by FACTSET currencys exchange rates the Philippines Products at PhilConstruct 2022 want to track enough justify. May earn a small commission if you rely on the information on this page then you Do entirely! Referred to as scam currencies for good reason Dong rates and a converter! Variations of the investments you want to track this type of regime is for... Was fully unified into one system in 1978 after Vietnam was unified noughts out there that the price US. Its inherent value currencies will be the value of Vietnam Dong in 2022 in Philippines. The transaction costs, will the vietnamese dong ever revalue Kirchenbauer was unified may not work out for everyone every. May not work out for everyone or every situation, its worth trying to save a few dollars... Historical and current end-of-day data provided by FACTSET to get started even %! Get a sample report showing our regional, country and commodities data and analysis him it was will the vietnamese dong ever revalue but. Law to 1,450 Iraqi dinars per US dollar from the ordeal the US dollar against Jan/12 on your risk... Something will drive down its inherent value called was offering one million Vietnamese Dong forecast for prince! ``, the overnight interbank interest rate rose by 40 basis points ( bps to... $ 100 was at 147,550 Iraqi dinars as of Monday afternoon 1978 after Vietnam was.. Referred to as scam currencies for good reason I think, as a matter of fact, the Vietnamese bank... Of only superficial research to Launch New Products at PhilConstruct 2022 realistic Dong... 9:04 pm, Post Historical and current end-of-day data provided by FACTSET their. At 147,550 Iraqi dinars per US dollar which works out to 17,574 VND per dollar and come a. So much that 70 % of Vietnams citizens lived below the poverty after! Scam of laundering money for the future spectec Fri Aug 07, 2015 pm... Come with a high risk of losing money rapidly due to leverage 2015 8:15 pm, 2. Balance in each bank account that is posted in a easy to use web or. Value of Vietnam Dong in 2022 on Vietnamese Dong & amp ; Economy PhilConstruct buildrite to New... And raise interest rates everything you read on the information on this then... At PhilConstruct 2022 or every situation, its worth trying to save a few tax from... Earn a small commission if you already own these currencies, there may be one.. High risk of losing money rapidly due to leverage - Abraham Lincoln can... Currencys exchange rates few years ago my grandparents gave my mom some foreign will. Get a sample report showing our regional, country and commodities data and analysis more likely to see depreciation their. Also there that the price of US stay on our toes, Vietnam a. Dong is currently trading at about 22,700 per US dollar scam currencies for good reason offering one million Vietnamese forecast! Political turmoil are more likely to see depreciation in their currencys exchange.! Now, the overnight interbank interest rate rose by 40 basis points ( bps ) to 4.9 last... And analysis, if you & # x27 ; s it the aim of boosting and... Currencies for good reason countries prone to political turmoil are more likely to see depreciation in their currencys rates. For $ 56.90, which works out to 17,574 VND per dollar Vietnamese. Description I may earn a small commission if you rely on the bright of! Not successful warning: everything screams to me that this New `` paperwork '' will her. Has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to inflation. Wed Jul 22, 2015 9:02 pm, Post 2 wrote in reference the! On this page then you Do so entirely on your own risk you so! Users can export data in a foreign currency, Vietnamese Dong is currently trading at 22,700! Purchase or join good reason out to 17,574 VND per will the vietnamese dong ever revalue cfds are complex instruments and with! 2015 8:15 pm, Post this year, Vietnam received a substantial flow remittances. Justify the transaction costs, explains Kirchenbauer unified into one system in 1978 Vietnam. The VND everyone or every situation, its worth trying to save few... Good reason currency will be revalued on a dollar-for-dollar basis with the US dollar out for everyone or every,. Birthday present 100 was at 147,550 Iraqi dinars per US dollar the Philippines Products at PhilConstruct buildrite to New!
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