Unless you try to do something beyond what you have already mastered you will never grow. I share my thoughts and ideas I pick up from everywhere I go. Like other emerging markets currencies, the Vietnamese dong (VND) has fallen in value against the US dollar (USD) this year as the dollar has rallied to 20-year highs. This browser is no longer supported at MarketWatch. | A country can regulate the exchange rate of its currency to a baseline of its choice, be it the price of gold, wage rates, or a foreign currency. Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. 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. by obgyn65 Thu Jul 23, 2015 3:43 am, Post Theforecast for 2025 from algorithm-based forecasting service Wallet Investor was bearish on the outlook for the euro against the Vietnamese currency, predicting that the exchange rate would fall from 22,619.53 to 21,616.17 at the end of 2022. 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. However, the Vietnam dong is one of the few currencies in the region that has appreciated against the US dollar since the beginning of the year, which is a rare case in the foreign exchange market. -John Maxwell. $100 was at 147,550 Iraqi dinars as of Monday afternoon. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. by corn18 Sat Jul 25, 2015 6:58 am, Post With an increase in foreign capital, the value of the domestic currency rises. Initially, I just dismissed the questions and put-off the requests, informing clients and other investors that we dont employ or recommend currency-based strategies. There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). Keep in mind that past performance is no guarantee of future returns. Philip Wee of DBS Bank discusses how the Vietnamese dong and Chinese yuan have played out as countries worldwide recover from Covid. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. If you're curious about what Vietnamese money looks like, check out the video. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. Are you looking for a Vietnamese dong forecast to inform your trading? From October 2021, the trade balance reversed from trade deficit to trade surplus. 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. watch now. 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. VNDZAR. 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. step because of the risks and controversies around it, adding that Prime Minister 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. Will Iraqi dinar ever revalue? 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. I tried to find as much evidence as possible to let her know it was a scam and do whatever she could to see if she could get her money back, to no avail. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. According to the Asian Development Bank, Vietnam has increased its money supply by approximately 40% between 2012 and 2014. Helps the rest of us stay on our toes. Scores of people have purchased Iraqi dinars from fast-talking promoters and online currency dealers promising windfall profitssome predicting as much as 1,000 times their original investmentwhen the currency is revalued. Why is Vietnam dong so low? Will the Vietnamese Dong RV Revalue? According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per USD in the fourth quarter of 2021; to VND 23,000 per USD in the first quarter of 2022; to VND 23,100 per USD in the second quarter of 2022; and VND 23,200 per USD in the third quarter of 2022. As a matter of fact, the. 2. Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. An increase in demand causes a rise in the exchange rate and raises the value of the currency. Did she ever receive any bills for service? So I invested around 60 and if it happens this will be worth nearly a million pounds. by corn18 Thu Jul 23, 2015 7:11 am, Post As a matter of fact, the Dong was . A variety of factors can trigger currency revaluation. What is a realistic Vietnamese dong forecast for the future? Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. by Abe Sat Aug 08, 2015 4:39 pm, Return to Personal Finance (Not Investing), Powered by phpBB Forum Software phpBB Limited, Time: 0.275s | Peak Memory Usage: 9.81 MiB | GZIP: Off. We know the level of care and privacy you expect from a company dealing with currencies is of the utmost . by pierremonfrere Thu Jul 23, 2015 6:45 pm, Post 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.. by Grogs Thu Jul 23, 2015 7:50 pm, Post by LadyGeek Sat Jul 25, 2015 10:19 am, Post by Nicolas Fri Jul 24, 2015 11:21 pm, Post Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. Nazim told state-owned al-Sabah newspaper that the 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. 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. 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. Report Save Follow. It follows a sharp rise in US interest rates and weakening global demand prospects, which have increased the risk of capital outflows and contributed to downward pressure on the Vietnamese dong, although the currency has weakened by less against the US dollar than many other APAC currencies this year,. Share. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. 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. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. 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. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Will the Vietnamese Dong be Revalued Soon? by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post Past profits do not guarantee future profits. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. 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. It will sell 21,420 dong per U.S. dollar (not including ordinary fees). ***Protect. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. 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. When you run the revaluation process, the balance in each bank account that is posted in a foreign currency will be revalued. Join us in creating opportunities and sharing ideas to all. 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. If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. In my opinion, they dont fit anywhere! Your worry is how to stop her sending more and more money to these criminals. The promises of high returns are particularly aimed at the most vulnerable populations like the elderly. It weakened the Vietnamese dong at the time, with inflation running at up to 900%. 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. 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. by denovo Thu Jul 23, 2015 1:02 am, Post Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. nor have any pro knowledge about the market right now but most of the people older than my generation believe that vietnamese dong will lose its price overtime. $2500 isnt that much to get scammed. Cookie Notice (). Intraday data delayed at least 15 minutes or per exchange requirements. by millionaretrucker Fri Jul 24, 2015 4:38 pm, Post The Vietnamese Dong is currently trading at about 22,700 per US Dollar. 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. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? People investing in this currency are probably not aware that they can actually purchase this currency at their local bank, potentially saving up to 50% versus buying from a ripoff company online. H NI The Vietnamese ng will remain stable for the rest of the year but may appreciate by 0.5 per cent in 2021, VNDirect Securities Corp forecast."The VN may move within the range of 0.5 per cent on either side," VNDirect forecast, adding there will be more upside risks for the ng in 2021. 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. Shudder just thinking about it. 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. This was due to the country's division into north and south after World War II. Forbes had an article of the scams in their 3/24/15 issue titled. 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. Share your thoughts in the comments below, The State Bank of Vietnams (SBV) decision to raise key policy rates by 100bp on 22 September exceeded our expectation that these rates would rise by only 50bp by end-2022. 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. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. 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. 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 was due to the countrys division into north and south after World War II. Can you discretely get into your mom's computer and block that email address? There are currently no items in this Watchlist. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. Visit a quote page and your recently viewed tickers will be displayed here. By the end of November, data from the General Department of Customs showed that the total export value was estimated at US$299.67 bn, up by 17.5%, and the total import value was estimated at US$299.45 bn, up by 27. 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. Watch out. Something went wrong while loading Watchlist. Some people you can't help. On the other hand, a decrease in demand can weaken the currency. For inquiries, please Contact us! Feel free to tell your mom that you have an inside source in Vietnam who can confirm that there is no such devaluation going to happen. Kirchenbauer goes on to say, It's difficult for most people to receive the actual value that these currencies trade at. Seems like the best way out of this is to head back to the bank where the $2500 in Vietnamese Dong was exchanged and ask if they'll convert back to USD. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. Re: VND Revalued. A brief history of the dong. This year, Vietnam received a substantial flow of remittances. This screams scam to all of us, but your Mom, relatives, and the friend all fell for 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. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Negosentro.com respects your privacy. 2017 2016/11/06 | 15:00 Will the project be implemented due to its big economic benefits The Central Bank of Iraq has said over and over again for years [], Note, I will be getting these article professionally translated for better reading, stay tuned for that. -Jeff Spicoli. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. interest of the countrys economy. 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. Post If it don't go up, don't buy it. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. What does this even mean? 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. This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. Trading Economics welcomes candidates from around the world. I have no idea if that would work or would just make things even worse. Click on the button below to get started. Predictions regarding currency revaluation arent always reliable as many factors contribute to the changes in its value. It influences its strength as its associated with a change in the markets stability. Similar to political stability, a strong economic environment can attract investments. And this will crossover to any strategy you ever learn! Still, the country has managed to reduce poverty dramatically since then. 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. A strong trade surplus has supported the dong against the euro, with the exchange rate declining to the 23,000 level from 25,800 at the start of 2022. 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. In a recent interview, Mr. Ngo Dang Khoa, Head of Foreign Exchange at Capital Markets and Securities Services at HSBC, commented that in the last five months of this year, as of November 2021, the Vietnam dong has appreciated by about 2% against the US dollar. 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