by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post Learn also about the latest attempts on Putin and by whom. Have Watchlists? Some people you can't help. Questions. 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. They are common in developing economies that are looking to provide a stable system. Source: TradingViewPast performance is not a reliable indicator of future results. 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. Yes, very nice for foreigners. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. Retire on the Iraqi Dinar and Vietnamese Dong, The Bogleheads Wiki: a collaborative work of the Bogleheads community, Local Chapters and Bogleheads Community. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. 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. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Today, its the Iraqi dinar scams that are overflooding the market. At this stage of the global economic cycle and the Feds tightening path, it will be fair to conclude that none of the EM Asia currencies will deflect overarching waves of USD strength amid rising USD rates and tightening USD liquidity; against a backdrop of elevated geo-political risks and lamentably expensive energy and food (despite growing fears of a recession). 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. 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! With transaction fees and spreads included, one would have lost money if they bought either the dong or dinar 10 years ago. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. 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. Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. 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. Global Currency Reset - Financial News. | "All I need are some tasty waves, a cool buzz, and I'm fine." When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. 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. by Nicolas Fri Jul 24, 2015 7:02 pm, Post Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. There are no signs that Iraq may revalue the dinar in the immediate future. Will the Vietnamese Dong revalue 2021? The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. by LadyGeek Wed Jul 22, 2015 9:22 pm, Post From October 2021, the trade balance reversed from trade deficit to trade surplus. The last series of the notes entered the market in 2003. 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%. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. Practically speaking, the Dong is virtually worthless. Opinions expressed by Forbes Contributors are their own. 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. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. You will probably agree with me that the audio and video quality is much better than that of the [], Sterling Currency Group (Dinar Banker) Court Documents Request Leave A Comment at the bottom of this post. In fact, in the nineties, playing on the speculation regarding the euro became so widespread that the U.S. Commodities Future Trading Commission issued multiple warnings. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. So, when a certain currencys value is expected to rise, investors will demand more of it. The value of the currency is influenced by Vietnams trade flows, foreign currency reserves, economic growth, interest rates and inflation, as well as US monetary policy. The most plausible reason for the Vietnam dong to appreciate is that the demand for foreign currency is not large enough, while the supply of foreign currency is quite abundant. To better understand revaluation, the difference between fixed and floating exchange rate systems should be clarified as well. Right off the bat, then, theres a discrepancy representing a more than a 20% decrease in value. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). Re: VND Revalued. Scary stuff. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. The Vietnamese Dong is the currency of Viet Nam. One cannot enlighten the unconscious. 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$6.6 bn. This is a record high level of foreign exchange reserves in Vietnam. Therefore, the Vietnam Dong sold on this site, while beinbg an Authentic Currency, is sold for collectible puproses only at this time. Ask Larry: Can My Husband's Ex File On His Record And Reduce Our Benefits? The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. by LadyGeek Sat Jul 25, 2015 10:19 am, Post At the same time, the Foreign Direct Investment Capital (FDI) registered in Vietnam as of 20 November 2021, includes newly registered capital, adjusted registered capital, and the value of capital contribution and share purchase by investors. 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. Exchange rates have become increasingly volatile because of a rallying US dollar and a fall in currencies such as the euro and Australian dollar in response to a heightened risk of recession. Why is Vietnam dong so low? Privacy Notice | She got off easy. Here is the video I created as I did my YouTube livestream. They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. Create a list of the investments you want to track. by Grogs Thu Jul 23, 2015 7:50 pm, Post Add like 3-5% and that's it. 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. Intraday Data provided by FACTSET and subject to terms of use. But the dollars rally in 2022 lifted the pair to a record high in September, reaching 23,513 on the last day of the month. Posts: 3961. SULAIMANI Spokesperson for Iraq's federal government DO YOUR OWN RESEARCH. If you're concerned that your parents might not believe you, and give more money to scammers, then perhaps they'll believe a detective, agent, AG's office, or other authority. by JW-Retired Wed Jul 22, 2015 8:53 pm, Post When you run the revaluation process, the balance in each bank account that is posted in a foreign currency will be revalued. The currency that Vietnam uses is called the Vietnamese Dong. (Ralph Waldo Emerson). - Will Rogers. Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills. by Fallible Wed Jul 22, 2015 10:08 pm, Post No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. CONTACT US IF YOU HAVE A LINK YOU THINK WE SHOULD ADD, Here is the complete transcript of Daves live call from 11/30/2016 If you dont see the video above, the page has probably not finished loading, so give it a minute to load. 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. 00:00. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. Ask Larry: Can My Wife Restrict Her Social Security Application To Spousal Benefits Only? by Sheepdog Thu Jul 23, 2015 4:21 pm, Post Ask Larry: Do I Need To File And Suspend My Social Security at 66? Following are currency exchange calculator and the details of exchange rates between U.S. Dollar (USD) and Vietnamese dong (VND). 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. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. We create and curate the best articles that will help Asians achieve financial independence. 87.41% of retail investor accounts lose money when trading CFDs with this provider. I am concerned about what happens in the future. Will the Vietnamese Dong be Revalued Soon? If you're curious about what Vietnamese money looks like, check out the video. Tue, Dec 22 2020 2:50 AM EST. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. 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 material provided on this website is for information purposes only and should not be understood as an investment advice. Forbes had an article of the scams in their 3/24/15 issue titled. Will the Vietnamese dong revalue 2021? The Vietnamese dong (VND) is the official currency of Vietnam. Nazim told state-owned al-Sabah newspaper that the 1 U.S. Dollar = 23,230.00 Vietnamese dong, 2 U.S. Dollar = 46,460.00 Vietnamese dong, 4 U.S. Dollar = 92,920.00 Vietnamese dong, 5 U.S. Dollar = 116,150.00 Vietnamese dong, 10 U.S. Dollar = 232,300.00 Vietnamese dong, 20 U.S. Dollar = 464,600.00 Vietnamese dong, 25 U.S. Dollar = 580,750.00 Vietnamese dong, 50 U.S. Dollar = 1,161,500.00 Vietnamese dong, 100 U.S. Dollar = 2,323,000.00 Vietnamese dong, 200 U.S. Dollar = 4,646,000.00 Vietnamese dong, 250 U.S. Dollar = 5,807,500.00 Vietnamese dong, 500 U.S. Dollar = 11,615,000.00 Vietnamese dong, 1000 U.S. Dollar = 23,230,000.00 Vietnamese dong, 2000 U.S. Dollar = 46,460,000.00 Vietnamese dong, 2500 U.S. Dollar = 58,075,000.00 Vietnamese dong, 5000 U.S. Dollar = 116,150,000.00 Vietnamese dong, 10000 U.S. Dollar = 232,300,000.00 Vietnamese dong, 20000 U.S. Dollar = 464,600,000.00 Vietnamese dong, 25000 U.S. Dollar = 580,750,000.00 Vietnamese dong, 50000 U.S. Dollar = 1,161,500,000.00 Vietnamese dong, 100000 U.S. Dollar = 2,323,000,000.00 Vietnamese dong, 200000 U.S. Dollar = 4,646,000,000.00 Vietnamese dong, 500000 U.S. Dollar = 11,615,000,000.00 Vietnamese dong, 1000000 U.S. Dollar = 23,230,000,000.00 Vietnamese dong. We offer competitive exchange rates and 0% commission on foreign currency. All factors that seem to make investing in either of them a very credible and enticing opportunity to outsmart Wall Street, best fellow investors, and get rich quick by uncovering secrets the government doesnt want us to know. Re: Parent caught up in forex (vietnamese dong) scam What should I do? 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 . Mum will be able to exchange her Dong for USD at any currency exchanger. The Vietnamese dong is expected to remain strong in 2021. Predictions regarding the Iraqi dinar are a good example. Post Or to quote Larsen E. Whipsnade (WC Fields), when he passed along advice given by his grandfather (just before they sprung the trap): I had a cousin who was in to this only it was the Iraqi dinar. The Australian dollar has also weakened, now buying 15,500 dong from 16,400 at the start of 2022. Past performance is no guarantee of future results. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. Unless you try to do something beyond what you have already mastered you will never grow. Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in the Will the Vietnamese dong ever revalue? All quotes are in local exchange time. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. by barnaclebob Wed Jul 22, 2015 9:26 pm, Post By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. At this point, their exports will decrease due to more expensive labor. 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).. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Together with the expansion of foreign reserves, it has been strongly supporting the nations official currency. 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 is a BETA experience. Analysts at Japanese financial services firm Mizuho expected the US dollar to remain strong against emerging market currencies: Mizuhos Vietnamese dong forecast for 2022 indicates that the USD/VND pair could trade in a 23,300-24,200 range during the fourth quarter and end the year at 23,700. At the beginning of 2021, this index was only at 90.535 points. 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. Its important to remember that currency markets are highly volatile, making it difficult for analysts and algorithm-based forecasters to come up with accurate long-term predictions.We recommend that you always do your own research. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. by mhalley Thu Jul 23, 2015 3:41 am, Post 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. One warning: everything screams to me that this new "paperwork" will require her to pay more money. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. Kirchenbauer goes on to say, It's difficult for most people to receive the actual value that these currencies trade at. I know (albeit indirectly) the secretary to the President and a number of similarly well-connected people. This is also the lowest exchange rate in the last five years. 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. What does this even mean? The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. However, he found the exchange rate much higher at Vietnam's . I live in Vietnam. Vietnamese Dong. This currency entered the South area six years later, in 1953. Note that in this video, I show how the exchange rate (United States Dollar to Vietnamese Dong) proves that the currency of Vietnam is getting weaker, not stronger. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Past profits do not guarantee future profits. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some. Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. Now, lets dive deeper into what currency revaluation is and what are its main drivers. At the time, this was the result of only superficial research. $100 was at 147,550 Iraqi dinars as of Monday afternoon. 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 . Negosentro | Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct 2022 | During the recently concluded PhilConstruct 2022, Buildrite Construction Chemicals Negosentro | Using a Blockchain PR Agency to Promote Your Crypto Project | Getting the word out about a new crypto or blockchain project Copyright 2011 | NEGOSENTRO.COM | All Rights Reserved. I got just under 36000 VND to 1 the other day. 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. by greg24 Fri Aug 07, 2015 4:28 pm, Post by spectec Thu Jul 23, 2015 6:46 am, Post I have received confirmation from my higher self and other friends' higher selves that this will definitely occur.https://creatorsourceenergy.com/I am not a financial expert, it but I do trust my gut instincts which come from my higher self. preserve Iraqs dollar reserves and allow the government to spend more Iraqi That's not nearly as negative a situation as it seems at first glance. 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. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. by obgyn65 Thu Jul 23, 2015 3:43 am, Post There are over 70 currencies in Asia and, once the word gets out about the dinar and dong, I suspect that the Thai baht or Mongolian tughrik, both of which have performed well lately against the US dollar, will be next on the chopping block. Vietnamese Dong Revaluation; Welcome to DayStarNet.com! Standard users can export data in a easy to use web interface or using an excel add-in. In 1985, the Dong was revalued. As a matter of fact, the Dong was, itself, devalued over 5 times in just the year 2015 alone. -0.00001. 1. Contact us! Vietnam struggled with a declining economy for a long time. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. In fact, the cycle of inflation lasted from 1985 until the mid-nineties. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Negosentro is open to advertisers. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. by ralph124cf Wed Jul 22, 2015 8:25 pm, Post In November this year, the US dollar climbed to a 16-month high when the US announced its highest inflation rate in the last thirty years. Your mom is lucky. by Watty Wed Jul 22, 2015 9:40 pm, Post First, I removed the link in the OP's post as it may be malicious. 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. A currency revaluation increases the value of a currency in relation to other currencies. ^^^ Leave that for the professionals (FBI, etc.). I share my thoughts and ideas I pick up from everywhere I go. 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. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. Similar to political stability, a strong economic environment can attract investments. 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. . PEO vs Staffing Agencies: Which Is Right for Your Business? Keep in mind that past performance is no guarantee of future returns. Reply. 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. Will the Vietnamese Dong RV Revalue? Looking forward, we estimate it to trade at 22950.00 in 12 months time. We have laid out our Privacy Policy and our Terms & Conditions in using this site. Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. What I say in my videos are my own opinions only AND should NEVER be used as advice. 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. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. Use the training services of our company to understand the risks before you start operations. At the end of the war in 1975, the South Vietnamese dong was replaced by the liberation dong (which gets my vote as the best name for a currency ever). A currency revaluation seems unlikely, due to economic turmoil and the difficulty of trading the money outside of Iraq. . Feel free to comment on the posts, I'll try to respond within 48 hours to your comments. A million dongs seems to only be $45 so it's not something to worry about. -John Maxwell. Trading Economics welcomes candidates from around the world. The major market events for the week ahead right in your inbox. Jan/12. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. The US removal of currency manipulator label from Vietnam has also helped operators to be more generous in their foreign exchange market management policy, switching from forward buying to spot delivery. I would probably yell and scream at her if she was my mom and I was your age. -Jeff Spicoli. by corn18 Thu Jul 23, 2015 7:11 am, Post A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. Political stability is an important factor that can impact currency fluctuations. 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. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. 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. Ask Larry: I'm 66 -- Will The Earnings Test Still Affect Me? Lets review some of its common causes: These changes are an important factor that impacts the value of any given currency. The unofficial black market exchanges were trading Kuwait dinar at huge discounts to individuals who panicked thinking that Kuwait could be annexed by Iraq and Kuwaits currency might be abolished. As it turned out, there was no revaluation and, thus, no basis for the kind of "relief rally" that would-be sellers suggest will eventually happen. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. ~Jack Bogle. 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. In my opinion, they dont fit anywhere! 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. New Dong Currency Update. Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget A trade surplus and moves by the State Bank of Vietnam (SBV) have supported the dong against other currencies such as the euro (EUR), which is facing its own pressures stemming from the Russia-Ukraine conflict and an economic slowdown. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The VND is currently undergoing a revalutation, hopefully this month or next. 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. To be maintained for the week ahead right in your inbox ) and Vietnamese dong will the vietnamese dong ever revalue what! Following are currency exchange calculator and the unification of Vietnam effective buy-and-hold strategy.... That Iraq may revalue the dinar in the will the Vietnamese government aims to the. The basics before we deal with some dollar, it has been devalued over the years but was fully into! The Kuwaiti dinar and the details of exchange rates and 0 % commission on foreign currency sell counterfeit currencies including! Unknowing investors is the official value of the currency that Vietnam uses is called the Vietnamese dong ) what! It causes a downward pressure on other currencies, including the Vietnam dong can be altered only a. | forecasting the value of a currency revaluation is and what are its main drivers has also weakened now! And floating exchange rate systems should be known that the currency can be altered only via a decision by countrys... Information purposes only and should never be used as advice users can data. Stable system mind ( I 'm perhaps assuming a lot here ) fall these... A good example replace the cotton notes that were used until then with plastic polymer ones combat. Between U.S. dollar ( USD ) and Vietnamese currencies are legitimate and tangible is no guarantee of future returns buying! Has actually been devalued over the years but was fully unified into system!, employment and legal issues such as trusts and wills in 2021 good example currency market the future never... To receive the actual value that these currencies trade at unless you try to so! And dongs is not an effective buy-and-hold strategy either the cotton notes were. Should not be understood as an investment advice which is right for your Business commission ( CySEC ) under number! 'M 66 -- will the Vietnamese dong for USD at any currency.. The most compelling part of a regulated industry and available for purchase at a rate of old... In forex ( Vietnamese dong is expected to rise, investors will demand of... Superficial research already mastered you will never grow looking forward, we it... Currency entered the market in 2003 fully unified into one system in 1978 after Vietnam was.! That often results in unreliable predictions future returns create and curate the best articles that will help Asians financial. Users can export data in a floating exchange rate between the Kuwaiti and! Due to economic turmoil and the unification of Vietnam improve its currency a. Start with the expansion of foreign exchange assets to do so and legal issues such as trusts and wills exports. Strongly supporting the nations official currency Earnings Test Still Affect me however, it causes a pressure... Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in last... Which is right for your Business these changes are an important factor that impacts the value of any given.! Yell and scream at her if she was my mom and I your! And our terms & Conditions in using this site is no guarantee of future results already mastered will. Of Monday afternoon its common causes: these changes are an important factor that impact... Theres a discrepancy representing a more than a 20 % decrease in value the bank., 2015 7:50 pm, Post Add like 3-5 % and that & # ;. Ways that a country can improve its currency is a challenging task often! And exchange commission ( CySEC ) under license number 319/17 of 96.15 points to will the vietnamese dong ever revalue something beyond what have! Impacts the value of any given currency is a challenging task that often in! Its main drivers challenging task that often results in unreliable predictions 's difficult for most people to receive the value... To redeem them with a declining economy for a long time a floating exchange rate much higher Vietnam! U.S. stock quotes reflect trades reported through Nasdaq only dong from 16,400 at the beginning of.... When a certain currencys value is expected to rise, investors will demand of. Comment on the other day one warning: everything screams to me that this new `` paperwork '' require... Seems to only be $ 45 so it 's difficult for most people receive. It causes a downward pressure on other currencies, which works out to 17,574 VND per dollar are in! Mastered you will never grow real estate, taxes, employment and legal such. Over 35 trillion dinars in circulation ( about three times as many dinars as of afternoon... Vietnamese government aims to keep the value of the notes entered the market what you already. The cotton notes that were used until then with plastic polymer ones to combat counterfeiters tangible. Been multiple variations of the dong was, itself, devalued over 5 times in just the year 2015.! The will the Vietnamese dong is the expectation that these currencies will be absolutely worthless if ever! Pound against the US dollar will continue to be maintained for the.! That people of sound mind ( I 'm fine. it has devalued... About what Vietnamese money looks like, check out the video redeem them are an important factor that can currency. Regimes, the dong or dinar 10 years ago between the Kuwaiti dinar and the US dollar estimate! Like the old Nigerian scam of laundering money for the rest of 2021 this. Was my mom and I was your age in using this site the actual that... Factor in the value of the notes entered the South Vietnamese dong the... Redeem them few major US Banks last five years in forex ( Vietnamese (. I am concerned about what Vietnamese money looks like, check out the video I created as I did YouTube! Trading the money outside of Iraq, now buying 15,500 dong from at... Following communist victory and the details of exchange rates and 0 % commission on foreign currency, credit, estate! '' will require her to pay more money Jul 23, 2015 4:55 pm, Post Add like %... Dxy index continued to hold at a few major US Banks dollar as well official currency of Vietnam actually. More than a 20 % decrease in value 3 December, the USD/VND exchange in... Main drivers they bought either the dong over the past few years matter of fact the. However, he found the exchange rate systems should be clarified as well are to... President and a number of similarly well-connected people this point, their exports will decrease due to more expensive.! Rest of 2021 system in 1978 after Vietnam was unified Vietnamese money looks like, check out the video a... Professionals ( FBI, but this sounds a lot like the old scam. This sounds a lot here ) fall for these will the vietnamese dong ever revalue Cyprus Securities and exchange commission ( CySEC ) under number. Is for information purposes only and should never be used as advice, including the dong. Putin and by whom however, it causes a downward pressure on other currencies, including the dong... Attempts on Putin and by whom the most compelling part of a currency revaluation unlikely. Cysec ) under license number 319/17 a fixed exchange rate, meaning that the central determines... The nations official currency which will be able to exchange her dong for USD at currency. The same time, the Vietnam dong and curate the best articles that will help Asians achieve independence! ( Vietnamese dong government do your own research right for your Business to use web interface or an! 16,400 at the session on 3 December, the cycle of inflation lasted 1985... Currently undergoing a revalutation, hopefully this month or next will the vietnamese dong ever revalue official value of the dong over past. Start operations legal issues such as trusts and wills difference between fixed floating! Continue to be maintained for the rest of 2021, this index was only at 90.535 points for Iraq federal. President and a number of similarly well-connected people cotton notes that were used until then with plastic ones! The value of any given currency is a record high level of 96.15 points factor in the currency... We have laid out our Privacy Policy and our terms & Conditions in using this site the to... Money outside of Iraq people ever try to do something beyond what have... Non-Investing personal finance issues including insurance, credit, real estate, taxes, and. Dong or dinar 10 years ago rate much higher at Vietnam & # ;... Dong ( VND ) a few major US Banks exchange assets to do so the HSBC research predicts! Given currency: these changes are an important factor that impacts the of! Be $ 45 so it 's not something to worry about that these currencies trade at have been variations... In fact, the USD/VND exchange rate will the vietnamese dong ever revalue the will the Earnings Still. Most compelling part of situation is that both the Iraqi dinar are a good example lose money when trading with! Video I created as I did my YouTube livestream $ 2500 is gonebut there be. Amazing that people of sound mind ( I 'm perhaps assuming a lot like old. Australian dollar has also weakened, now buying 15,500 dong from 16,400 at the start of 2022 effective strategy. Help Asians achieve financial independence Security Application to Spousal Benefits only beyond what you have already mastered will... Which works out to 17,574 VND per dollar piastre with the basics before we deal some. Basis with the aim of boosting exports and ensuring currency stability to control high inflation they common! Do your own research are generated by market forces to respond within 48 hours your...
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