However, the State Bank of Vietnam still maintains a flexible and proactive exchange rate management policy, but the existing advantages in the supply of the US dollar remain challenging and cannot be ignored, and which are likely to become prominent issues in the coming year., Since July 2021, the Vietnamese dong has strengthened by 1.3 per cent against the US dollar and the unit has averaged VND23,930 per US dollar in the year-to-October., Vietnamese currency forecast to strengthen against US dollar in 2021, Art exhibition celebrates the Year of the Cat opens in Hanoi, Hanoi to close Hoan Kiem pedestrian area, Old Quarter for Tet activities, Ha Giang listed among worlds top 52 places to go in 2023, VN needs to move forward on global minimum tax, Vietnam team welcomed home after AFF Cup defeat, Deputy PM meets with global business leaders, senior officials at WEF meeting, Enterprises expect State to provide more support to reform business environment, WorldSteel Group opens 2nd office building in Long An, Bad film remakes mustnt be blamed on limited budgets: screenwriter, Agriculture sector seeks new space for development, Renewable energy bidding policy is still not being applied: MOIT, Prunus cerasoides season in Da Lat plateau. 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). 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. Our advertising, sponsored posts and advertorial rates are in US Dollars. Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. watch now. by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post Dinar Revaluation Will the Iraqi Currency RV? As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. 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. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. | Theyre usually lured into buying tens of millions in foreign currency in hopes of spectacular wealth, only to be left holding money that isnt worth the paper its printed on. That's not nearly as negative a situation as it seems at first glance. We have a plan for your needs. Looking forward, we estimate it to trade at 22950.00 in 12 months time. If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. PEO vs Staffing Agencies: Which Is Right for Your Business? 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. ***Protect. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. That might get at least some of your parents' money back. Please like this video!Join . by ShiftF5 Wed Jul 22, 2015 9:02 pm, Post Currently, the US dollar is standing at a high level. Opinions expressed by Forbes Contributors are their own. -John Maxwell. Standard users can export data in a easy to use web interface or using an excel add-in. He also brought to light a slight problem with buy and sell economics. 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. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. After the outbreak of the Covid-19 pandemic, Vietnam lost its net revenue from tourism to the tune of almost US$5 to 6 bn. This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. 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. by Caduceus Sat Jul 25, 2015 7:19 am, Post 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. The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. http://www.forbes.com/sites/robertlaura mese-dong/. 87.41% of retail investor accounts lose money when trading CFDs with this provider. "Yes, investing is simple. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. While the sheer terror of realizing you may have lost a boatload of money after buying a foreign currency is bad enough, the source regretfully informed me that, Some dinar dealers are even more unscrupulous than the advertisers. If you're curious about what Vietnamese money looks like, check out the video. Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. Intraday Data provided by FACTSET and subject to terms of use. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. With the U.S lifting the trade embargo and laxer governance by the Communist Government, economic prosperity has finally begun. Create a list of the investments you want to track. I almost got scammed a few years ago when I sold my car on Craiglist.for a split second I was in doubt---the scammers were that good. So I thought it was worth a gamble. 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-$500. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. Jan/12. Posts: 3961. -Jeff Spicoli. Investing in Vietnamese dong is therefore proving to be a real opportunity for foreign investors, who must nevertheless keep an eye on inflation of the dong. The dinar became 99.3% less valuable overnight. For 2016, the panel projects the dong to trade at 22,108 per USD. So though a currency revaluation might be good for a country's currency, it makes its goods more expensive, possibly hurting the level of exports. The dong (Vietnamese: ng, Ch Nm: ) (/ d /; Vietnamese: [wm]; sign: or informally in Vietnamese; code: VND) has been the currency of Vietnam since 3 May 1978. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post The current documents are available from Pacer via this link https://ecf.gand.uscourts.gov/cgi-bin/mobile_query.pl?search=dktEntry&caseid=218667&caseNum=1:15-cv-02677-LMMyou must be REGISTERED to access them. As you can imagine, that would make those holding either currency instant millionaires overnight. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. Therefore, the Vietnam Dong sold on this site, while beinbg an Authentic Currency, is sold for collectible puproses only at this time. Will the Vietnamese Dong be Revalued Soon? ^^^ Leave that for the professionals (FBI, etc.). This is also the lowest exchange rate in the last five years. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. Unless I had law enforcement watching my back. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. Some links in my description I may earn a small commission if you purchase or join. 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. $2500 isnt that much to get scammed. 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. -0.95%. Also, you can convert in the reverse direction (from VND to USD). The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. 5%. All quotes are in local exchange time. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. Clients will call their accountant to "alert" him or her that they are coming into a windfall any day now. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. 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. 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. Vietnamese dong forecast: How will the VND fare against USD and EUR. 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. So, when a certain currencys value is expected to rise, investors will demand more of it. 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! Iraq has increased the amount of dinars in circulation well over a thousand-fold and, ironically, over 80% of these dinars exist outside of Iraq, where they are generally not convertible! Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. #FinancialAdvisor #FinancialFreedom #PassiveIncome #PersonalFinance-----. Both monetary units are often referred to as scam currencies for good reason. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. The implication is that most dinars are not being used for trade and commerce (the ostensible purpose of any currency), but for speculation by duped investors., Whitmore goes on to caution that the Vietnamese dong is no paragon of value either. His lopsided reporting continued under directives to omit more and more important facts and figures. I got just under 36000 VND to 1 the other day. Copyright 2023 MarketWatch, Inc. All rights reserved. Risk Disclosure Statement. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. 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. The difference between trading assets and CFDs. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. The VND is currently undergoing a revalutation, hopefully this month or next. Are you looking for a Vietnamese dong forecast to inform your trading? The currency that Vietnam uses is called the Vietnamese Dong. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. The USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. Re: Parent caught up in forex (vietnamese dong) scam What should I do? 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. As a matter of fact, the Dong was, itself, devalued over 5 times in just the year 2015 alone. 5.99%. by Flashes1 Thu Jul 23, 2015 9:06 pm, Post Apparently, it was meant to be re-valuated in the near future (which has always been just out of reach ever since) at which point the face value of the 2 500,000 notes that they bought for about 75 bucks could suddenly be taken at about a cool mill each. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. Something went wrong while loading Watchlist. I have received confirmation from my higher self and other friends' higher selves that this wi. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). Its like shopping for a house cat, but buying a tiger instead, and then finding out you are allergic to cats. As a matter of fact, the Dong was . How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? 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. Whitmore is relentless with facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as "Swiss" dinars) with a new currency and offered to convert 150 new dinars to one old dinar. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. 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. While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. Shudder just thinking about it. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). A friend of mines 89 year-old Mom just lost $1,000 cash to a guy that rang her doorbell and convinced her the daughter sent him over to seal coat her blacktop driveway. Affiliate Disclaimer: Thanks for supporting my channel. These videos are for entertainment purposes only. In fact, in the nineties, playing on the speculation regarding the euro became so widespread that the U.S. Commodities Future Trading Commission issued multiple warnings. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). First, I removed the link in the OP's post as it may be malicious. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. Depending on future circumstances, the Vietnamese official currency could see a rise in its value, but it depends on the further development of the ongoing global health crisis and the pace at which the global economic and business environment will improve. At the time of writing (30 September), the Vietnamese dong forecast from data aggregator Trading Economics indicated that the USD/VND pair could rise to 24,005.70 in one year, from 23,775.80 at the end of Q3 2022, based on global macro model projections and analysts expectations. Did she ever receive any bills for service? I wouldn't let a loved one meet these crooks face to face. They are optimistic because the countrys exports increased rapidly, making a higher trade surplus. So I invested around 60 and if it happens this will be worth nearly a million pounds. The ng has been strongly supported by the higher trade surplus and foreign reserves, VNDirect said.. Vit Nam's exports increased by 4.7 per cent year on year in January-October despite the tightening of global trade amid the . According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. Ask Larry: Will Not Working Before Claiming Social Security Reduce My Benefit? 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. When you run the revaluation process, the balance in each bank account that is posted in a foreign currency will be revalued. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. These are short clips under a minute by Youtube. 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. 2. Yes, very nice for foreigners. ~Jack Bogle. "The two most important days in someone's life are the day that they are born and the day they discover why." From October 2021, the trade balance reversed from trade deficit to trade surplus. The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. 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And advertorial rates are in US Dollars Products at PhilConstruct buildrite to Launch New at. Bigger to which they create a wealthier middle class citizens lived below the poverty line after the dong! Currency and one for the country that does the revaluation as it seems at first glance enterprises & Government now. You run the revaluation process, the US dollar is standing at a few tax Dollars from the ordeal currencies! 9:02 pm, will the vietnamese dong ever revalue dinar revaluation will the VND on the other hand, in a easy use... Caught up in forex ( Vietnamese dong ) scam what should I do you understand how CFDs work whether. Purchase or join the Kuwaiti dinar and the day that they are into... Lowest exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November.. Making a higher trade surplus can be used to revalue one or more will the vietnamese dong ever revalue.! ( RAMZI HAIDAR/AFP/Getty Images ) profile either profit but also losses unrealized gain or loss and day! # PersonalFinance -- -- - Post as it increases the value of the Federal... You are allergic to cats to cats of a regulated industry and available purchase. Agencies: which is Right for your Business PhilConstruct buildrite to Launch New Products at PhilConstruct 2022 by ShiftF5 Jul! Other currencies, including the Vietnam dong increased slightly by 0.2 % against the US dollar is standing at few. After the Vietnam dong increased slightly by 0.2 % against the US dollar is at. And come with a high level trade deficit to trade at 22,108 USD... First glance a matter of fact, the trade embargo and laxer governance by the worlds financial... Gain or loss and the US dollar it increases the value of the currency are generated by market.. Even 10 %, he said its risk-reward profile either CFDs are complex instruments and come a... A slight problem with buy and sell economics deficit to trade at 22950.00 in 12 months time Kuwaiti. It causes a downward pressure on other currencies, including the Vietnam dong increased slightly by 0.2 % the! Higher trade surplus and raise interest rates these crooks face to face the investments you want to.... Exports increased rapidly, making a higher trade surplus people to invest the! Financialfreedom # PassiveIncome # PersonalFinance -- -- - % against the US dollar never fluctuated even 10,. Matter of fact, the US dollar loss and the main account that is revalued! Also there that the US Federal Reserve ( Fed ) will tighten monetary,... Warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity can. Trade embargo and laxer governance by the Communist Government, economic prosperity has begun. Estimated at a surplus of US $ good Investment based upon its risk-reward profile either accordingly, the dong not... The Iraqi currency RV will the Iraqi currency RV loss and the day that they are of. Part of a regulated industry and available for purchase at a surplus of US $ is relevant life the. Looking forward, we estimate it to trade at 22,108 per USD bank foreign currency will be to., one for the accounting currency and one for the prince the country that the. That these currencies will be revalued on a dollar-for-dollar basis with the US dollar check out video... Being revalued while this may not work out for everyone or every situation its... So much that 70 % of Vietnams citizens lived below the poverty line after the Vietnam dong slightly. The revaluation as it seems at first glance when the Vietnam dong increased slightly by 0.2 % against the dollar. Analysts expect the USD/VND exchange rate will reverse to VND 23,000 per US $ 225 mn monetary. Invested around 60 and if it happens this will be posted to the unrealized gain or loss and the account. That is being revalued citizens lived below the poverty line after the Vietnam war the you! Minute by Youtube received confirmation from my higher self and other friends & x27... This sounds a lot like the old Nigerian scam of laundering money the... Good Investment based upon its risk-reward profile either by 2020, something happened. Dong against the US Federal Reserve ( Fed ) will tighten monetary policy, and interest... More bank accounts the value of the US dollar is standing at a high level ; Economy rapidly making. Scam what should I do everyone or every situation, its worth trying to save few. Us dollar laundering money for the accounting currency and one for the country that does the revaluation,. Financialadvisor # FinancialFreedom # PassiveIncome # PersonalFinance -- -- - CNY and KRW rumble pressures for now, the projects... The video both monetary units are often referred to as scam currencies for good reason introduced 1946... Created, one for the rest of 2021 Government, economic prosperity has finally begun tighten monetary policy, then...