It was designed to by fidobogo Wed Jul 22, 2015 9:26 pm, Post Some people you can't help. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. dinars. . As you can imagine, that would make those holding either currency instant millionaires overnight. 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). Log in to see them here or sign up to get started. 5.99%. If you're curious about what Vietnamese money looks like, check out the video. This was due to the country's division into north and south after World War II. Whether the Vietnamese dong is a good fit for your investment portfolio depends on your personal circumstances, risk tolerance and how much you intend to invest. 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. Subscriber Agreement & Terms of Use | Predictions regarding the Iraqi dinar are a good example. Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. What will be the value of Vietnam dong in 2022? 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. Looking forward, we estimate it to trade at 22950.00 in 12 months time. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. 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. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. Unless I had law enforcement watching my back. SULAIMANI Spokesperson for Iraq's federal government Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. 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. Mum will be able to exchange her Dong for USD at any currency exchanger. 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. 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. I share my thoughts and ideas I pick up from everywhere I go. by LadyGeek Wed Jul 22, 2015 9:22 pm, Post "The two most important days in someone's life are the day that they are born and the day they discover why." By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. So, when a certain currencys value is expected to rise, investors will demand more of it. 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. Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. Mizuho's 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. You should do your own research to develop a view of the currency as an investment. Currencies are affected by a variety of factors. Inflation in recent years has also been well controlled, reinforcing confidence in the Vietnamese dong. 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. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. "Optimum est pati quod emendare non possis." If you rely on the information on this page then you do so entirely on your own risk. 1. His lopsided reporting continued under directives to omit more and more important facts and figures. 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. Thanks for posting. H NI The Vietnamese The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. 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. Now, lets dive deeper into what currency revaluation is and what are its main drivers. How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. Past performance is no guarantee of future results. This is an old scam which has been around at least 10 years. by profnot Thu Jul 23, 2015 3:36 pm, Post A brief history of the dong. What does this even mean? by Watty Wed Jul 22, 2015 9:40 pm, Post That should help prevent others from getting scammed. 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. Ultimately, Iraq ended up devaluing its currency in 2020, meaning that anyone who had invested in 2014 would have lost at least 20% of their money. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. Enter the amount of money to be converted from U.S. Dollar (USD) to Vietnamese dong (VND), it is converted as you type. 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 . Trading Economics welcomes candidates from around the world. Dinar Revaluation Will the Iraqi Currency RV? 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. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. This currency entered the South area six years later, in 1953. Both monetary units are often referred to as scam currencies for good reason. Negosentro.com respects your privacy. Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. 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. 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. Low currency value = more exports. Intraday data delayed at least 15 minutes or per exchange requirements. One warning: everything screams to me that this new "paperwork" will require her to pay more money. What are the advantages of position analysis questionnaire? Copyright 2023 MarketWatch, Inc. All rights reserved. Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. 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. 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. That's not nearly as negative a situation as it seems at first glance. 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,. 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. 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. Philip Wee of DBS Bank discusses how the Vietnamese dong and Chinese yuan have played out as countries worldwide recover from Covid. Kirchenbauer goes on to say, It's difficult for most people to receive the actual value that these currencies trade at. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post -Jeff Spicoli. by Gardener246 Thu Jul 23, 2015 12:19 am, Post Opinions expressed by Forbes Contributors are their own. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. What does this even mean? by Fallible Wed Jul 22, 2015 10:08 pm, Post ", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. I would probably yell and scream at her if she was my mom and I was your age. As a matter of fact, the Dong was . Ask Larry: Do I Need To File And Suspend My Social Security at 66? interest of the countrys economy. 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. preserve Iraqs dollar reserves and allow the government to spend more Iraqi FocusEconomics Consensus Forecast panellists expect the dong to trade at 21,812 per USD at the end of this year. 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. Privacy Notice | 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). I contribute to many blogs. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. I just wanted to get this transcript of the 2 [], I was invited, or more like urged to be on the Wingit Call on 10/25/2016. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. An increase in demand causes a rise in the exchange rate and raises the value of the currency. The Vietnamese dong has appreciated by around 2 percent against the US dollar in the last eleven months of this year. by ralph124cf Wed Jul 22, 2015 8:25 pm, Post Also, you can convert in the reverse direction (from VND to USD). 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. 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. ^^^ Leave that for the professionals (FBI, etc.). 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. We offer competitive exchange rates and 0% commission on foreign currency. On top of all that, try finding someone to sell that currency to in order to recapture your USD. The thumbprint is a nice touch.
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