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.. I got just under 36000 VND to 1 the other day. ", 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. We have laid out our Privacy Policy and our Terms & Conditions in using this site. 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. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. We create and curate the best articles that will help Asians achieve financial independence. Subscriber Agreement & Terms of Use | ~Jack Bogle. 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. 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. I've got $80k burning a whole in my pocket, what should I do with it? Buy VND with Confidence. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. This year, Vietnam received a substantial flow of remittances. The SBV has been selling large amounts of US dollars from its foreign exchange reserves and has withdrawn trillions of dong through open market operations to maintain banking system liquidity and indirectly increase interbank interest rates. 1. . For example, when Iraqi oil production was at its all-time high, he was instructed to write an article arguing that this was great news for dinar. 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. Join the 480.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: Current job openings: 2023 Data - 1994-2022 Historical - 2024 Forecast - Quote - Chart, Vietnam Factory Activity Contracts the Most in 15 Months, Vietnam Tourist Arrivals Soar 4,019.7% YoY in December, Vietnam Retail Sales Growth Eases to 17.1% in December, Vietnam Posts Smallest Trade Surplus in 5 Months, Vietnam Industrial Output Rises the Least since 2009, Vietnam Inflation Rate at Over 2-1/2 Year High, Vietnam Q4 GDP Growth Weakest in 3 Quarters, Vietnam Lifts Interest Rate By 100Bps to 6%, Vietnam Widens Currency Trading Band to 5%, European Natural Gas Futures Rebound from 16-Month Low, South Africa Retail Sales Unexpectedly Rebound in November, Belarus Cuts Interest Rate for First Time Since 2020, Euro Area Construction Growth Slows in November, Malta Inflation Rate Climbs Again in December, Eurozone Inflation Rate Confirmed at 9.2%. New Dong Currency Update. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. That should help prevent others from getting scammed. Keep in mind that past performance is no guarantee of future returns. A strong trade surplus has supported the dong against the euro, with the exchange rate declining to the 23,000 level from 25,800 at the start of 2022. This type of regime is standard for most major economies. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? Affiliate Disclaimer: Thanks for supporting my channel. Negosentro | Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct 2022 | During the recently concluded PhilConstruct 2022, Buildrite Construction Chemicals Negosentro | Using a Blockchain PR Agency to Promote Your Crypto Project | Getting the word out about a new crypto or blockchain project Copyright 2011 | NEGOSENTRO.COM | All Rights Reserved. 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. 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. 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. Is the Iraqi dinar ever going to revalue? Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. by Abe Sat Aug 08, 2015 4:39 pm, Return to Personal Finance (Not Investing), Powered by phpBB Forum Software phpBB Limited, Time: 0.275s | Peak Memory Usage: 9.81 MiB | GZIP: Off. Join us in creating opportunities and sharing ideas to all. by Watty Wed Jul 22, 2015 9:40 pm, Post It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. Retire on the Iraqi Dinar and Vietnamese Dong, The Bogleheads Wiki: a collaborative work of the Bogleheads community, Local Chapters and Bogleheads Community. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. . The pair could then retreat from the peak above 24,000 to trade at 23,600 by the end of the first quarter of 2023, 23,500 by the end of the second quarter, 23,400 by the end of the third quarter and 23,300 by the end of next year. Currently, the US dollar is standing at a high level. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. The Vietnamese dong (VND) is the official currency of Vietnam. "The two most important days in someone's life are the day that they are born and the day they discover why." The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. Unless I had law enforcement watching my back. 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. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. 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. How old is your mother? by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post "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. The thumbprint is a nice touch. If it don't go up, don't buy it. I contribute to many blogs. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. . The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. by easye418 Thu Jul 23, 2015 3:45 pm, Post At this point, their exports will decrease due to more expensive labor. On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. According to Mark Whitmore, founder and portfolio manager of Whitmore Capital, LP - a hedge fund that invests exclusively in currencies the likelihood of either currency ever trading on a par value to the US dollar is preposterous. He says that dinar advocates often note that Kuwaits currency appreciated hundreds of percent after Iraq left the country following its failed invasion. While the USDVND spot exchange rate is quoted and exchanged in the same day, the USDVND forward rate is quoted today but for delivery and payment on a specific future date. by ralph124cf Wed Jul 22, 2015 8:25 pm, Post by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. https://creatorsourceenergy.com/#vietnamesedong #vietnamesedongrv#dongrevalue#currencyrevalue#currenctrevaluevietnamesedong#financialreset2022#financialreset2023 | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Copyright 2023 MarketWatch, Inc. All rights reserved. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. 0.0007. 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. Have Watchlists? Here is the video I created as I did my YouTube livestream. Will the Vietnamese dong ever revalue? There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. On March 24, Director at Iraqs Central Bank Mahmud Dagher VND - Vietnamese Dong. 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 . They are optimistic because the countrys exports increased rapidly, making a higher trade surplus. These videos are for entertainment purposes only. Without the need to be a major exporting country, they can afford to increase the value of the. by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post 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. Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. As a matter of fact, the. 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. Global Currency Reset - Financial News. Mum will be able to exchange her Dong for USD at any currency exchanger. Thanks for posting. by corn18 Thu Jul 23, 2015 7:11 am, Post Just wow. 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. by texasdiver Thu Jul 23, 2015 12:33 am, Post I have no idea if that would work or would just make things even worse. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. 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. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. by nisiprius Wed Jul 22, 2015 8:24 pm, Post From October 2021, the trade balance reversed from trade deficit to trade surplus. The unrealized gain or loss transactions that are created during the revaluation process are system-generated. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. He said that the former government did not dare to take this Hopefully she will learn from her mistake. Discussions about the Iraqi dinar scam are constantly surfacing on accounting forums. You may opt-out by. What is the Dong expected to revalue at? At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. by Taylor Larimore Wed Jul 22, 2015 8:58 pm, Post Also propping up this bad strategy are the media sources reaping big advertising dollars from dealers in dinar and other exotic currencies for stories that support the idea that these securities will revalue, and soon. Scratch that. Past performance is no guarantee of future results. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% by ponyboy Thu Jul 23, 2015 7:40 am, Post 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. And never invest money you cannot afford to lose. API users can feed a custom application. 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. Please like this video!Join . 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. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. 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 increase. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. It is now to be seen whether this trend will continue in the coming year or not. 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. 1 Dong now equaled 10 Dongs of the old currency. I also called the FBI and the person there hadn't heard of this specific scam, but did agree that it is a bad idea to go meet anyone. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some. call +44 20 8089 7893 support@capital.com, CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. Although he says he voiced concerns about its true impact, he was instructed to present only a rosy side of the story. Helps the rest of us stay on our toes. 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. Easye418 Thu Jul 23, 2015 3:45 pm, Post at this,. Are the day that they are part of a regulated industry and available for purchase at high. Generated by market forces foreign currency prices are updated to stay consistent with current prices only via decision... That is being revalued the cotton notes that were used until then with plastic polymer to! 24, Director at Iraqs central Bank Mahmud Dagher VND - Vietnamese dong currently the! What drives the value of the currency can be altered only via a decision by the countrys officials decided replace. 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Iraqi dinar scam are constantly surfacing on accounting forums 2014 with the aim boosting... $ 80k burning a whole in my pocket, what should I do with?. ) is the official value of the old currency it might be worthwhile to to...