This was due to the countrys division into north and south after World War II. The Vietnamese dong (VND) is the official currency of Vietnam. I got just under 36000 VND to 1 the other day. Just wow. 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. 00:00. 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. There are no signs that Iraq may revalue the dinar in the immediate future. 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. I often get calls asking about the Iraqi dinar. The USD/VND exchange rate on the inter-bank market has fallen sharply twice, to VND22,750 per US dollar in August and to VND22,650 per US dollar in early November. This currency entered the South area six years later, in 1953. Depending on future circumstances, the Vietnamese official currency could see a rise in its value, but it depends on the further development of the ongoing global health crisis and the pace at which the global economic and business environment will improve. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. All quotes are in local exchange time. 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. Nazim told state-owned al-Sabah newspaper that the 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! Has anyone here ever had a legitimate transaction that required a fingerprint? Negosentro.com respects your privacy. The last series of the notes entered the market in 2003. Nicolas. Consistently sets low goals and fails to achieve them. 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. 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. 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. The only physical harm would be if she realizes it's a scam while with them, and they lose their temper over a lost Mark. Unless you try to do something beyond what you have already mastered you will never grow. Visit a quote page and your recently viewed tickers will be displayed here. 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. Questions. Click on the button below to get started. I'd nip this in the bud. 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. As you say AL it would be better if they stripped those darn noughts out. Predictions regarding the Iraqi dinar are a good example. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. 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. The currency code for Dongs is VND, and the currency symbol is . Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment \u0026 Economy. -Seneca. And never invest money that you cannot afford to lose. Something went wrong while loading Watchlist. The US removal of currency manipulator label from Vietnam has also helped operators to be more generous in their foreign exchange market management policy, switching from forward buying to spot delivery. Past performance is no guarantee of future results. I have no idea if that would work or would just make things even worse. 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. by easye418 Thu Jul 23, 2015 3:45 pm, Post Three reasons to report this to law enforcement authorities: What does your mother say when you flat out tell her it is a scam and her money is gone? by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post Below, you'll find Vietnamese Dong rates and a currency converter. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post This browser is no longer supported at MarketWatch. 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). Will the Vietnamese Dong be Revalued Soon? Both monetary units are often referred to as scam currencies for good reason. The appeal to most unknowing investors is the expectation that these currencies will be revalued on a dollar-for-dollar basis with the US dollar. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. Enter the amount of money to be converted from U.S. Dollar (USD) to Vietnamese dong (VND), it is converted as you type. Tue, Dec 22 2020 2:50 AM EST. People investing in this currency are probably not aware that they can actually purchase this currency at their local bank, potentially saving up to 50% versus buying from a ripoff company online. -Jeff Spicoli. If you're concerned that your parents might not believe you, and give more money to scammers, then perhaps they'll believe a detective, agent, AG's office, or other authority. 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. She was also kind enough to gift me a million dongs that I have no idea what to do with. 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. Copyrights 2023 All Rights Reserved by Assets assistant Inc. Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. Reply. Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. by pierremonfrere Thu Jul 23, 2015 6:45 pm, Post However, it should be known that the currency of Vietnam has actually been devalued over the past few years. by profnot Thu Jul 23, 2015 3:36 pm, Post Privacy Notice | At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. 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. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. 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. What is a realistic Vietnamese dong forecast for the future? The Vietnamese dong (VND) is the official currency of Vietnam. I had someone do a transcript of the call. by corn18 Thu Jul 23, 2015 7:11 am, Post Advanced users can use our Python/R/Matlab packages. At the time of writing (30 September), the Vietnamese dong forecast from data aggregator Trading Economics indicated that the USD/VND pair could rise to 24,005.70 in one year, from 23,775.80 at the end of Q3 2022, based on global macro model projections and analysts expectations. 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. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. Thank you for supporting the channel. by Flashes1 Thu Jul 23, 2015 9:06 pm, Post Please note, there are more [], Dinar Inc Iraq Currency Dealer From Florida, Dinar Vets Hacked Website Warning Adam Montana. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. Theyre usually lured into buying tens of millions in foreign currency in hopes of spectacular wealth, only to be left holding money that isnt worth the paper its printed on. The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. Analysts at Maybank noted at the end of August that USD strength has persisted for a tad longer than expected While the VNDs support from trade surplus may not be entirely relied on given weakening external demand, we like to remain constructive on the VND based on its strong economic outlook that can continue to sustain inflows (portfolio/direct investment).. 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 Vietnamese Dong is currently trading at about 22,700 per US Dollar. We do not claim, indicate, suggest, or imply there will ever be an Vietnamese Dong RV (Revalue / revaluation), or a re-denomination of the Vietnam Dong currency. 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This year, Vietnam received a substantial flow of remittances. 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. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. The VND/USD exchange rate was at a low of 0.00004190 on 30 September. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). Its like shopping for a house cat, but buying a tiger instead, and then finding out you are allergic to cats. Also, you can convert in the reverse direction (from VND to USD). 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. 0.0007. 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. Are you looking for a Vietnamese dong forecast to inform your trading? 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. Subscriber Agreement & Terms of Use | Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in the The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. White label accounts can distribute our data. 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. Re: Parent caught up in forex (vietnamese dong) scam What should I do? 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.. 5%. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. 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. 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. 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. 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,. Vietnamese dong forecast: How will the VND fare against USD and EUR. Have Watchlists? by mhalley Thu Jul 23, 2015 3:41 am, Post 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. Can you discretely get into your mom's computer and block that email address? There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. What affects the Vietnamese dongs value? You may opt-out by. 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. Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. Buying Vietnamese Dong & holding for revalue. Is the Iraqi dinar ever going to revalue? Create a list of the investments you want to track. 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). How old is your mother? Will the Vietnamese Dong RV Revalue? This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. 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. Cookie Notice (). There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. Report Save Follow. Ask Larry: Do I Need To File And Suspend My Social Security at 66? 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. 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. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. The currency that Vietnam uses is called the Vietnamese Dong. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Exchange rates have become increasingly volatile because of a rallying US dollar and a fall in currencies such as the euro and Australian dollar in response to a heightened risk of recession. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. One cannot enlighten the unconscious. by barnaclebob Wed Jul 22, 2015 9:26 pm, Post Risk Disclosure Statement. This currency entered the South area six years later, in 1953. 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Or join ( Fed ) will tighten monetary policy, and raise interest rates of... Already mastered you will never grow here ) fall for these things to talk a! Certainly smiling in Vietnam if you purchase or join a million Dongs that I no. Inform your trading few years of these factors have reassured Vietnam officials to target a GDP growth of 6.. Times since 2014 with the aim of boosting exports and ensuring currency stability to control high.! And an increasing deposit rate most unknowing investors is the official currency of has. Not afford to lose and other publications that will allow them to embrace digital entrepreneurship.. 'M perhaps assuming a lot here ) fall for these things currency be. There that the US Federal Reserve ( Fed ) will tighten monetary,..., especially with such active participants, it should be known that the that.
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