Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. Something went wrong while loading Watchlist. You may opt-out by. There are currently no items in this Watchlist. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. Analysts have yet to issue a Vietnamese dong forecast for 2030. Will the Vietnamese dong ever revalue? and get more in-depth about this exotic currency. I got just under 36000 VND to 1 the other day. On top of all that, try finding someone to sell that currency to in order to recapture your USD. Risk Disclosure Statement. Although there are certain signals, like strong economic growth, that can be used to assess whether a certain currency will be revalued soon, its always wise to be cautious about this type of estimation. As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. In the first half of 2021, the exchange rate stabilized around VND23,000 to VND23,100 per US dollar, but in the second half of the year, the US$/VND exchange rate continued to follow a downtrend, meaning that the Vietnam dong showed . 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. I would probably yell and scream at her if she was my mom and I was your age. 2. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. I'd nip this in the bud. This currency entered the South area six years later, in 1953. As a matter of fact, the Dong was . Prepare to run foreign currency revaluation. It weakened the Vietnamese dong at the time, with inflation running at up to 900%. This browser is no longer supported at MarketWatch. Some people you can't help. However, he found the exchange rate much higher at Vietnams Agribank. In my opinion, they dont fit anywhere! For 2016, the panel projects the dong to trade at 22,108 per USD. Without the need to be a major exporting country, they can afford to increase the value of the. 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. 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. Predictions regarding the Iraqi dinar are a good example. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. 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. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. Together with the expansion of foreign reserves, it has been strongly supporting the nations official currency. 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. Currencies are affected by a variety of factors. 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. A million dongs seems to only be $45 so it's not something to worry about. The move came after the Fed raised interest rates by another 75 basis points, prompting a number of central banks to also raise rates last week. step because of the risks and controversies around it, adding that Prime Minister How old is your mother? I wouldn't let a loved one meet these crooks face to face. 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. 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.. I am concerned about what happens in the future. 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. This is an old scam which has been around at least 10 years. Intraday Data provided by FACTSET and subject to terms of use. This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. New Dong Currency Update. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. 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. 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. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. 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. 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 spectec Thu Jul 23, 2015 6:46 am, Post Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget 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. 100 U.S. Dollar = 2,323,000.0000 Vietnamese dong. Keep in mind that past performance is no guarantee of future returns. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. ~Jack Bogle. I have no idea if that would work or would just make things even worse. by barnaclebob Wed Jul 22, 2015 9:26 pm, Post | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. by Taylor Larimore Wed Jul 22, 2015 8:58 pm, Post The feature is also a global feature. 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. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. He also brought to light a slight problem with buy and sell economics. 0.0007. 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. In 1985, the Dong was revalued. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." Vietnam sighs with relief from the United States decision on being labeled as a currency manipulator in December 2020. http://www.forbes.com/sites/robertlaura mese-dong/. This idea has given birth to many "investment" scams, promising 1,000-fold returns to investors who buy dinars at a steep markup. The bills are colorful and the numbers used are very large. I only recommend products or services I currently use and love. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. ***Protect. by Index Fan Fri Aug 07, 2015 12:13 pm, Post Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Help us push digipreneurship. 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. The countrys economic recovery, the strengthening of the Chinese yuan, and the U.S. expansionary monetary policy are predicted to keep the exchange rates of this exotic currency steady. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. 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 Fallible Wed Jul 22, 2015 10:08 pm, Post Prior to this, South Vietnam was also dominated by piastre notes. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. 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. 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