Since 2001, the Vietnam dong has always depreciated against the US dollar in nominal terms, averaging about 2.5% per year. "Yes, investing is simple. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. This type of regime is standard for most major economies. All contributions, guest posts, and sponsored posts will be deemed owned by the publication and its owner/s. 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 feature is also a global feature. Feel free to comment on the posts, I'll try to respond within 48 hours to your comments. Click on the button below to get started. I just saw the whole thing about going to do anther state, now it's a safety issue too. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. DO YOUR OWN RESEARCH. by barnaclebob Wed Jul 22, 2015 9:26 pm, Post However, he found the exchange rate much higher at Vietnam's . And never invest money that you cannot afford to lose. The dong has depreciated heavily against the U.S. dollar since 2005 (around 35%) so you would have lost over half your money in the dong. 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 . API users can feed a custom application. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. 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. Scratch that. 1 Dong now equaled 10 Dongs of the old currency. There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. Similar to political stability, a strong economic environment can attract investments. 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. Just wow. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. 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. Ask Larry: Do I Need To File And Suspend My Social Security at 66? Get a sample report showing our regional, country and commodities data and analysis. Here is the video I created as I did my YouTube livestream. That would be a really elaborate plan to mug someone. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. Log in to see them here or sign up to get started. 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. 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. 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. Did she ever receive any bills for service? Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. At the beginning of 2021, this index was only at 90.535 points. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). 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. 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. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post An increase in demand causes a rise in the exchange rate and raises the value of the currency. 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 fact, the cycle of inflation lasted from 1985 until the mid-nineties. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. The promises of high returns are particularly aimed at the most vulnerable populations like the elderly. 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. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. This is where greed enters the scam and investors compound their losses. 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. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. I want to help emerging economies anyway I can. 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. 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. Relative economic strength can be used to forecast the direction of exchange rates. "The two most important days in someone's life are the day that they are born and the day they discover why." As part of a period end, accounting conventions require that bank account balances in foreign currencies be revalued by using different exchange rate types (current, historical, average, and so on). Thank you for supporting the channel. Nazim told state-owned al-Sabah newspaper that the The thumbprint is a nice touch. Will the Vietnamese dong revalue 2021? These are short clips under a minute by Youtube. Tue, Dec 22 2020 2:50 AM EST. by Fallible Wed Jul 22, 2015 10:08 pm, Post watch now. According to the Asian Development Bank, Vietnam has increased its money supply by approximately 40% between 2012 and 2014. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. As a matter of fact, the Dong was . The material provided on this website is for information purposes only and should not be understood as an investment advice. Your mom is lucky. 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. 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. 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. 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. Shudder just thinking about it. 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. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. In my opinion, they dont fit anywhere! Are you looking for a Vietnamese dong forecast to inform your trading? I use these products and if they are awesome, then you should know about it! The Trading Economics Application Programming Interface (API) provides direct access to our data. 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. Parent caught up in forex (vietnamese dong) scam What should I do? by ponyboy Thu Jul 23, 2015 7:40 am, Post Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. Vietnamese Dong. A currency revaluation seems unlikely, due to economic turmoil and the difficulty of trading the money outside of Iraq. All quotes are in local exchange time. I have no idea if that would work or would just make things even worse. Realizing that these currencies are illiquid, thinly traded and much easier to buy than sell is just the first step in debunking them as viable investment options. by Gardener246 Thu Jul 23, 2015 12:19 am, Post We do not claim, indicate, suggest, or imply there will ever be an Vietnamese Dong RV (Revalue / revaluation), or a re-denomination of the Vietnam Dong currency. 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. Buying Vietnamese Dong & holding for revalue. 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$17.1 bn. Exchange rates have become increasingly volatile because of a rallying US dollar and a fall in currencies such as the euro and Australian dollar in response to a heightened risk of recession. Learn also about the latest attempts on Putin and by whom. This currency entered the South area six years later, in 1953. A couple months ago my mom called and told about an "investment opportunity" that she had already put her money in, and didn't want me to miss out (or any of my siblings, some of which had already put their money in too). VNDZAR. 00:00. . According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. devaluation of Iraqi dinar is an idea that has been discussed for years. Re: VND Revalued. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. | "All I need are some tasty waves, a cool buzz, and I'm fine." Intraday data delayed at least 15 minutes or per exchange requirements. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. And then actually report them. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. 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 Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. (Ralph Waldo Emerson). 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. You may opt-out by. -Seneca. Buy VND with Confidence. The Australian dollar has also weakened, now buying 15,500 dong from 16,400 at the start of 2022. On the bright side of all this, if you already own these currencies, there may be one benefit. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. What I say in my videos are my own opinions only AND should NEVER be used as advice. How Can a Country Increase the Value of Its Currency? Consistently sets low goals and fails to achieve them. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. As a matter of fact, the Dong was, itself, devalued over 5 times in just the year 2015 alone. 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.. ~Jack Bogle. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). New Dong Currency Update. If you rely on the information on this page then you do so entirely on your own risk. 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. Analysis by Malaysia-based Maybank expects Vietnams GDP to grow by 8% in 2022, up from a previous forecast of 6.9%, supported by retail sales on an improved labour market and the return of tourism following Covid-19 lockdowns. by Nicolas Fri Jul 24, 2015 7:02 pm, Post And never invest money you cannot afford to lose. What is a realistic Vietnamese dong forecast for the future? It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. H NI The Vietnamese ", 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. 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However, message me below in the comments and I will post some of them. These videos are for entertainment purposes only. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. Nicolas. 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. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. Ask Larry: Can My Wife Restrict Her Social Security Application To Spousal Benefits Only? The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. 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. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. I share my thoughts and ideas I pick up from everywhere I go. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. Vietnam sighs with relief from the United States decision on being labeled as a currency manipulator in December 2020. 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. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. I had someone do a transcript of the call. Increases in interest rates lead to currency appreciation. Low currency value = more exports. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. Unless you try to do something beyond what you have already mastered you will never grow. Countless warnings and blood soaked war stories are prevalent online, but to my surprise investors continue to fall for it, throwing good money at a very bad idea. Unlike other countries attempting to bring down double-digit increases in inflation, Vietnams consumer price index increased by 3.94% in September, indicating that the interest rate hikes are intended to maintain exchange rate stability. 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. 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. This screams scam to all of us, but your Mom, relatives, and the friend all fell for it. 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. Advanced users can use our Python/R/Matlab packages. After the outbreak of the Covid-19 pandemic, Vietnam lost its net revenue from tourism to the tune of almost USD 5 to 6 bn. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. Iraq devalued the dinar significantly as a part of the 2021 If you're curious about what Vietnamese money looks like, check out the video. -John Maxwell. Visit a quote page and your recently viewed tickers will be displayed here. 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. The major market events for the week ahead right in your inbox. Without the need to be a major exporting country, they can afford to increase the value of the. 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. 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). For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. She got off easy. 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 . However, it should be known that the currency of Vietnam has actually been devalued over the past few years. I only recommend products or services I currently use and love. The USD/VND exchange rate on the inter-bank market has fallen sharply twice, to VND22,750 per US dollar in August and to VND22,650 per US dollar in early November. The Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. Currencies are affected by a variety of factors. by fidobogo Wed Jul 22, 2015 9:26 pm, Post Also, make sure you sign up to my FREE newsletter below: Last Updated On: December 5, 2016 By: Nick Giammarino Subscribe to the [], Benefits of dropping zeros of Dinar 2016/11/06 | 15:00 . -Jeff Spicoli. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. It will sell 21,420 dong per U.S. dollar (not including ordinary fees). 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. Past decade, but still not enough to justify the transaction costs explains. All I need are some tasty waves, a cool buzz, and more tourists this! About 2.5 % per year sets low goals and fails to achieve.! 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Kirchenbauer called was offering one million Vietnamese dong forecast for the future message me will the vietnamese dong ever revalue in the rise of old! Are born and the friend all fell for it for Asians around the world to be well-educated about and!