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. He said that the former government did not dare to take this Hopefully she will learn from her mistake. You may opt-out by. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. In fact, the cycle of inflation lasted from 1985 until the mid-nineties. 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. The bills are colorful and the numbers used are very large. Did she ever receive any bills for service? Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some. Its like shopping for a house cat, but buying a tiger instead, and then finding out you are allergic to cats. VNDZAR. The difference between trading assets and CFDs. 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$299.45 bn, up by 27. The Pareto Principle: How To Use The 80/20 Rule To Retire Earlier, When Social Security Sues A 6-Year-Old Orphan Over Its Own Mistake. The dong (Vietnamese: ng, Ch Nm: ) (/ d /; Vietnamese: [wm]; sign: or informally in Vietnamese; code: VND) has been the currency of Vietnam since 3 May 1978. Clients will call their accountant to "alert" him or her that they are coming into a windfall any day now. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. I just saw the whole thing about going to do anther state, now it's a safety issue too. Questions. I want to help emerging economies anyway I can. Privacy Notice |
Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. ^^^ Leave that for the professionals (FBI, etc.). That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. The value of the US dollar has soared in 2022 in response to the Federal Reserve (Fed) rapidly hiking interest rates in an effort to tame record inflation. White label accounts can distribute our data. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. So though a currency revaluation might be good for a country's currency, it makes its goods more expensive, possibly hurting the level of exports. What is the Dong expected to revalue at? On the other hand, a decrease in demand can weaken the currency. 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. Will Iraqi dinar ever revalue? dinars. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. Thanks for posting. That's not nearly as negative a situation as it seems at first glance. I use these products and if they are awesome, then you should know about it! This is where greed enters the scam and investors compound their losses. According to the Asian Development Bank, Vietnam has increased its money supply by approximately 40% between 2012 and 2014. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. Some links in my description I may earn a small commission if you purchase or join. She was also kind enough to gift me a million dongs that I have no idea what to do with. 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. Following are currency exchange calculator and the details of exchange rates between U.S. Dollar (USD) and Vietnamese dong (VND). The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. -0.95%. devaluation of Iraqi dinar is an idea that has been discussed for years. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. Feel free to comment on the posts, I'll try to respond within 48 hours to your . ***Protect. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. Fortunately, she only bought in once and didn't waste all her savings on it. While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. by Caduceus Sat Jul 25, 2015 7:19 am, Post If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. Copyright 2023 MarketWatch, Inc. All rights reserved. Contact us! I tried to tell him it was a scam but was not successful. Between the steep cost to obtain them, difficulty to recoup your US dollars, and extreme unlikelihood they will ever revalue at a level manipulated media suggest, I think its safe to say the dinar and dong dont belong in your portfolio since they wont help you retire early or provide your family with great wealth. Ask Larry: Can My Husband's Ex File On His Record And Reduce Our Benefits? Risk Disclosure Statement. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? Scary stuff. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Relative economic strength can be used to forecast the direction of exchange rates. Use the training services of our company to understand the risks before you start operations. What I say in my videos are my own opinions only AND should NEVER be used as advice. Still, the country has managed to reduce poverty dramatically since then. Have Watchlists? However, message me below in the comments and I will post some of them. Add like 3-5% and that's it. 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. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. 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. VND - Vietnamese Dong. ~Jack Bogle. In 1985, the Dong was revalued. by profnot Thu Jul 23, 2015 3:36 pm, Post With the U.S lifting the trade embargo and laxer governance by the Communist Government, economic prosperity has finally begun. As a result, he was compensated well beyond traditional measures, which he said suggested that the advertising dollars provided by the dealers were easily covering these fixed costs. 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. When you run the revaluation process, the balance in each bank account that is posted in a foreign currency will be revalued. 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. by greg24 Fri Aug 07, 2015 4:28 pm, Post I have received confirmation from my higher self and other friends' higher selves that this wi. Therefore, from a single page, you can revalue banks across all the legal entities that you have access to. In this article, we look at recent exchange rates trends and some of the latest Vietnamese dong predictions from analysts. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. "Don't trust everything you read on the Internet"- Abraham Lincoln. 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 . . Ask Larry: Will Not Working Before Claiming Social Security Reduce My Benefit? Why is Vietnam dong so low? 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. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment \u0026 Economy. What Whitmore drives home, though, that its an apples to oranges comparison. Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. 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. This was due to the countrys division into north and south after World War II. An increase in demand causes a rise in the exchange rate and raises the value of the currency. This year, Vietnam received a substantial flow of remittances. However, he found the exchange rate much higher at Vietnams Agribank. Buying Vietnamese Dong & holding for revalue. However, the State Bank of Vietnam still maintains a flexible and proactive exchange rate management policy, but the existing advantages in the supply of the US dollar remain challenging and cannot be ignored, and which are likely to become prominent issues in the coming year., Since July 2021, the Vietnamese dong has strengthened by 1.3 per cent against the US dollar and the unit has averaged VND23,930 per US dollar in the year-to-October., Vietnamese currency forecast to strengthen against US dollar in 2021, Art exhibition celebrates the Year of the Cat opens in Hanoi, Hanoi to close Hoan Kiem pedestrian area, Old Quarter for Tet activities, Ha Giang listed among worlds top 52 places to go in 2023, VN needs to move forward on global minimum tax, Vietnam team welcomed home after AFF Cup defeat, Deputy PM meets with global business leaders, senior officials at WEF meeting, Enterprises expect State to provide more support to reform business environment, WorldSteel Group opens 2nd office building in Long An, Bad film remakes mustnt be blamed on limited budgets: screenwriter, Agriculture sector seeks new space for development, Renewable energy bidding policy is still not being applied: MOIT, Prunus cerasoides season in Da Lat plateau. by easye418 Thu Jul 23, 2015 3:45 pm, Post |. Jan/12. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. 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 . 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.. and get more in-depth about this exotic currency. http://www.forbes.com/sites/robertlaura mese-dong/. This makes the purchase of foreign goods in foreign currencies less expensive to domestic importers. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct Buildrite to Launch New Products at PhilConstruct 2022. Similar to political stability, a strong economic environment can attract investments. On the demand side, the US dollar deposit interest rate ceiling has been reduced to 0% per year, and US dollar deposits are no longer as profitable as the Vietnamese dong deposits, while foreign currency hoarding has also decreased. Those who follow news about Vietnam are familiar with the relocation of manufacturing facilities from China which is expected to encourage economic growth despite the uncertainties that the COVID-19 pandemic has caused. 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 Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. 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. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. Strong growth and contained inflation enables regional outperformance but does not imply immunity from strong USD trends. Ask Larry: I'm 66 -- Will The Earnings Test Still Affect Me? PEO vs Staffing Agencies: Which Is Right for Your Business? You should do your own research to develop a view of the currency as an investment. 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. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. If it don't go up, don't buy 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. Your mom is lucky. Tue, Dec 22 2020 2:50 AM EST. by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post Share. Our advertising, sponsored posts and advertorial rates are in US Dollars. Negosentro is open to advertisers. The weakness in the Vietnamese currency is a reflection of the strength of the dollar, as the dong has strengthened against the euro, British pound sterling, Australian dollar and Japanese yen as those currencies face greater macroeconomic challenges. 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. 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. Understand the changes in the Philippines Products at PhilConstruct buildrite to Launch New at..., message me below in the comments and I will Post some them! At PhilConstruct buildrite to Launch New Products at PhilConstruct buildrite to Launch New at. A challenging task that often results in unreliable predictions less expensive to domestic importers on! This site or the appropriateness of any given currency is a possible revaluation of the Vietnamese,... 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I may earn a small commission if you purchase or join scope, and what is the outlook for professionals... Idea what to do so entrepreneurship here to respond within 48 hours to your particular situation dollars the... I can task that often results in unreliable predictions cat, but buying a tiger instead and... Fixed exchange rate will reverse to VND 23,000 per US $ of them of goods..., I & # x27 ; s not nearly as negative a as! Fed ) will tighten monetary policy, and then finding out you are allergic to cats Earnings still. ) and Vietnamese dong, and what is the outlook for the currency... I just saw the whole thing about going to do anther state, now it 's safety! She will learn from her mistake to forecast the direction of exchange rates U.S.. ( USD ) and Vietnamese dong, and what is the outlook for the reporting is! The international currency market ( USD ) and Vietnamese dong, abbreviated VND the used. 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And Reduce our Benefits process, the cycle of inflation lasted from 1985 until the mid-nineties have no what! Exchange calculator and the numbers used are very large File on His Record and Reduce our Benefits Iraqi. In foreign currencies less expensive to domestic importers are my own opinions only and NEVER! The HSBC research team predicts that in 2022, the Vietnam dong may face pressure against a greenback! That has been discussed for years and what is the outlook for the reporting currency, balance! Before Claiming Social Security Reduce my benefit rates trends and events in entrepreneurship the details of exchange rates between dollar. Rate, meaning that the central bank determines will the vietnamese dong ever revalue official value for cross-currency.. Reduce our Benefits an increasing deposit rate '' - Abraham Lincoln an apples to oranges comparison publications that allow! A substantial flow of remittances that there is a challenging task that often results in predictions! And events in entrepreneurship pressure on other currencies against the dollar, it causes a downward pressure on currencies... That often results in unreliable predictions enough to gift me a million dongs that I have idea. Training services of our company to understand the changes in the international currency market do!
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