by spectec Thu Jul 23, 2015 6:46 am, Post A currency revaluation increases the value of a currency in relation to other currencies. Retire on the Iraqi Dinar and Vietnamese Dong, The Bogleheads Wiki: a collaborative work of the Bogleheads community, Local Chapters and Bogleheads Community. 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. Re: VND Revalued. 0.0007. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. http://www.forbes.com/sites/robertlaura mese-dong/. 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 would be worried that the 'additional paperwork' might ask for bank accounting routing and account numbers. Will the Vietnamese dong ever revalue? He said that the former government did not dare to take this A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Questions. This idea has given birth to many "investment" scams, promising 1,000-fold returns to investors who buy dinars at a steep markup. I've got $80k burning a whole in my pocket, what should I do with it? "I believe the State Bank of Vietnams attention to these issues over time not only will address Treasurys concerns, but also will support the further development of Vietnams financial markets and enhance its macroeconomic and financial resilience," Yellen said in the statement. From October 2021, the trade balance reversed from trade deficit to trade surplus. Our advertising, sponsored posts and advertorial rates are in US Dollars. Intraday data delayed at least 15 minutes or per exchange requirements. Ultimately, Iraq ended up devaluing its currency in 2020, meaning that anyone who had invested in 2014 would have lost at least 20% of their money. by Index Fan Fri Aug 07, 2015 12:13 pm, Post The most plausible reason for the Vietnam dong to appreciate is that the demand for foreign currency is not large enough, while the supply of foreign currency is quite abundant. Click on the button below to get started. Standard users can export data in a easy to use web interface or using an excel add-in. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Its like shopping for a house cat, but buying a tiger instead, and then finding out you are allergic to cats. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. Something went wrong while loading Watchlist. Theforecast for 2025 from algorithm-based forecasting service Wallet Investor was bearish on the outlook for the euro against the Vietnamese currency, predicting that the exchange rate would fall from 22,619.53 to 21,616.17 at the end of 2022. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. New Dong Currency Update. What does this even mean? 2. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. Another source, who chooses to remain anonymous, painted a vivid picture to keep in mind as you probe the depths of this scam. 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. As you say AL it would be better if they stripped those darn noughts out. As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. Hopefully she will learn from her mistake. Will the Vietnamese Dong be Revalued Soon? The scammers are using the internet to their advantage and setting up websites, social media pages, and newsletters to persuade people that the Iraqi dinar is about to be revalued. Forbes had an article of the scams in their 3/24/15 issue titled. 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. For inquiries, please Contact us! The SBV has been selling large amounts of US dollars from its foreign exchange reserves and has withdrawn trillions of dong through open market operations to maintain banking system liquidity and indirectly increase interbank interest rates. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. With an increase in foreign capital, the value of the domestic currency rises. . 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. A variety of factors can trigger currency revaluation. Let us know what do you think about it? by denovo Thu Jul 23, 2015 1:02 am, Post by corn18 Sat Jul 25, 2015 6:58 am, Post When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. by Caduceus Sat Jul 25, 2015 7:19 am, 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 USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. There are currently no items in this Watchlist. ~Jack Bogle. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. Any further interaction is asking for trouble. How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? by ponyboy Thu Jul 23, 2015 7:40 am, Post 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. by mhalley Thu Jul 23, 2015 3:41 am, Post Just wow. On the other hand, a decrease in demand can weaken the currency. Watch out. In this article, we look at recent exchange rates trends and some of the latest Vietnamese dong predictions from analysts. by profnot Thu Jul 23, 2015 3:36 pm, Post by corn18 Thu Jul 23, 2015 7:11 am, Post Predictions regarding the Iraqi dinar are a good example. 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. 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). 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. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. They are common in developing economies that are looking to provide a stable system. However, he found the exchange rate much higher at Vietnams Agribank. Is the Iraqi dinar ever going to revalue? In my opinion, they dont fit anywhere! Advanced users can use our Python/R/Matlab packages. by Gardener246 Thu Jul 23, 2015 12:19 am, Post So, when a certain currencys value is expected to rise, investors will demand more of it. Hear My Story https://youtu.be/WWjVO34D1-AWELCOME TO RAPID UPDATES CHANNEL. 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. Will Iraqi dinar ever revalue? by millionaretrucker Fri Jul 24, 2015 4:38 pm, Post There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). Cookie Notice (). He also brought to light a slight problem with buy and sell economics. This is where greed enters the scam and investors compound their losses. Learn also about the latest attempts on Putin and by whom. 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 dinar became 99.3% less valuable overnight. 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 . I live in Vietnam. Currently, the US dollar is standing at a high level. -Seneca. We offer competitive exchange rates and 0% commission on foreign currency. The material provided on this website is for information purposes only and should not be understood as an investment advice. All quotes are in local exchange time. 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. API users can feed a custom application. Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget Scratch that. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. And never invest money that you cannot afford to lose. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. 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. 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. -Jeff Spicoli. Helps the rest of us stay on our toes. This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. Following are currency exchange calculator and the details of exchange rates between U.S. Dollar (USD) and Vietnamese dong (VND). 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. We have a plan for your needs. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. Vietnamese Dong. One cannot enlighten the unconscious. interest of the countrys economy. by nisiprius Wed Jul 22, 2015 8:24 pm, Post Opinions expressed by Forbes Contributors are their own. We know the level of care and privacy you expect from a company dealing with currencies is of the utmost . 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. She got off easy. Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. by Grogs Thu Jul 23, 2015 7:50 pm, Post This type of regime is standard for most major economies. This year, Vietnam received a substantial flow of remittances. 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 . There are no signs that Iraq may revalue the dinar in the immediate future. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. It might be easy to find someone to buy your house cat, but finding a suitable home for a tiger would be much more difficult.. For 2016, the panel projects the dong to trade at 22,108 per USD. Dave Schmidt Transcript of Live Call 11-30-2016, Benefits of Dropping Zeros From The Iraqi Dinar, Central Bank of Iraq Delete Zeros Off IQD Early 2017 Arabic News, Transcript Private Currency Exchanges Dave Schmidt LiveStream October 26 2016, Nick And TNTBS on Wingit Call Transcript and Video October 28 2016, Sterling Currency Group Dinar Banker Court Documents Update. by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post by easye418 Thu Jul 23, 2015 3:45 pm, Post . Global Currency Reset - Financial News. The two versionswere unified when the country became one in 1978. 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. Use the training services of our company to understand the risks before you start operations. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. However, after a recent question about another foreign currency, the Vietnamese dong, I felt it was time to truly dig into whats going on and write the definitive article on where these currency strategies fit into both retirement and overall investment portfolios. 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). This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. 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. (Ralph Waldo Emerson). These are short clips under a minute by Youtube. by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post Make sure to subscribe to the Newsletter if you havent already done so. Fortunately, she only bought in once and didn't waste all her savings on it. These videos are for entertainment purposes only. On top of all that, try finding someone to sell that currency to in order to recapture your USD. So I thought it was worth a gamble. -John Maxwell. by IPer Thu Jul 23, 2015 6:57 am, Post Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. by greg24 Fri Aug 07, 2015 4:28 pm, Post by Taylor Larimore Wed Jul 22, 2015 8:58 pm, Post The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. by TimeRunner Thu Jul 23, 2015 8:04 am, Post This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. 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. I would email the scammers back on your Mom's behalf and tell the that you will be reporting them to local law enforcement and the FBI and also monitoring her email and that any further communication from them will be forwarded directly to the authorities. Also, there are many factors in play that affect exchange rates and a currencys value, such as a countrys economic performance, the prospect of inflation, capital flows, and plenty of others. by Flashes1 Thu Jul 23, 2015 9:06 pm, Post 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. The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. Parent caught up in forex (vietnamese dong) scam What should I do? by ralph124cf Wed Jul 22, 2015 8:25 pm, Post The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. Analysts have yet to issue a Vietnamese dong forecast for 2030. ", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. The last series of the notes entered the market in 2003. Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. 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. dinars. by AlohaJoe Thu Jul 23, 2015 8:52 am, Post When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. Trading Economics welcomes candidates from around the world. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. 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. 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. Law and does not change. I use these products and if they are awesome, then you should know about it! 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. 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 . Posts: 3961. by LadyGeek Sat Jul 25, 2015 10:19 am, Post She was also kind enough to gift me a million dongs that I have no idea what to do with. Therefore, from a single page, you can revalue banks across all the legal entities that you have access to. Post I would probably yell and scream at her if she was my mom and I was your age. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. 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. The VND/USD exchange rate was at a low of 0.00004190 on 30 September. How Can a Country Increase the Value of Its Currency? 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. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. Share. Analysts at Japanese financial services firm Mizuho expected the US dollar to remain strong against emerging market currencies: Mizuhos 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. There's a gap between how a . This makes the purchase of foreign goods in foreign currencies less expensive to domestic importers. by MossySF Fri Jul 24, 2015 11:14 pm, Post 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. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post Hassan Nazim said on Monday (September 6) that the price of US dollar against What is a realistic Vietnamese dong forecast for the future? #FinancialAdvisor #FinancialFreedom #PassiveIncome #PersonalFinance-----. With transaction fees and spreads included, one would have lost money if they bought either the dong or dinar 10 years ago. Some people you can't help. In the first half of 2021, the exchange rate stabilized around VND 23,000 to VND 23,100 per US dollar, but in the second half of the year, the USD/VND exchange rate continued to follow a downtrend, meaning that the Vietnam dong showed . We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. Prepare to run foreign currency revaluation. 1. Get a sample report showing our regional, country and commodities data and analysis. Iraq has increased the amount of dinars in circulation well over a thousand-fold and, ironically, over 80% of these dinars exist outside of Iraq, where they are generally not convertible! Treasury Vault offers the ability to buy Vietnamese dong at the lowest prices.Our foreign currency prices are updated to stay consistent with current prices. by ShiftF5 Wed Jul 22, 2015 9:02 pm, Post -0.95%. 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. At this point, their exports will decrease due to more expensive labor. Since 2001, the Vietnam dong has always depreciated against the US dollar in nominal terms, averaging about 2.5% per year. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. Feel free to comment on the posts, I'll try to respond within 48 hours to your comments. 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. Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. Increases in interest rates lead to currency appreciation. I share my thoughts and ideas I pick up from everywhere I go. Apparently, it was meant to be re-valuated in the near future (which has always been just out of reach ever since) at which point the face value of the 2 500,000 notes that they bought for about 75 bucks could suddenly be taken at about a cool mill each. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. Please like this video!Join RAPID On Telegram group https://t.me/RapidUpdatesGCR Follow Rapid On Twitter https://twitter.com/UpdatesRapid Email Rapid: Globalcurrencyresearch@gmail.com Buy Crypto W/Coinbase http://bit.ly/SetUpCoinbaseAccount Online Security Password Protection http://bit.ly/DashlanePassword#VietnamDong #RapidUpdates #VND ---------------------------------------------------------------------------------------Thanks for visiting Rapid Updates Channel to receive your weekly dose of the Iraqi Dinar, Silver \u0026 Gold News in Rapid Form! No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. 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. Will the Vietnamese Dong be Revalued Soon? Right off the bat, then, theres a discrepancy representing a more than a 20% decrease in value. I had someone do a transcript of the call. Capital Com is an execution-only service provider. 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. 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