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$18.1 bn, ranking 8th in the world and third in the Asia-Pacific region. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. We have laid out our Privacy Policy and our Terms & Conditions in using this site. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. Ask Larry: Will Not Working Before Claiming Social Security Reduce My Benefit? Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. I reached out to several currency exerts to help me explain the ins and outs of this ridiculous business in an effort to help retirees and other investors avoid falling victim to this and similar currency scams going forward. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. Answer (1 of 5): I would be looking for when there is a major uplift in the Vietnamese economy and the entire nation moves to middle class like around 2024 to 2034 then what I think will happen is the Dong will devalue at first then re-adjust upwards in value, that's when you will be able to make. With the U.S lifting the trade embargo and laxer governance by the Communist Government, economic prosperity has finally begun. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. Will the Vietnamese dong ever revalue? A street money exchange (RAMZI HAIDAR/AFP/Getty Images). Iraqi dinar will be fixed at the current price in the draft 2022 Federal Budget To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some. As a matter of fact, the. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. 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. 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. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. 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. Looking forward, we estimate it to trade at 22950.00 in 12 months time. Use the training services of our company to understand the risks before you start operations. However, he found the exchange rate much higher at Vietnams Agribank. 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.. Scores of people have purchased Iraqi dinars from fast-talking promoters and online currency dealers promising windfall profitssome predicting as much as 1,000 times their original investmentwhen the currency is revalued. Currently, the US dollar is standing at a high level. Why is Vietnam dong so low? Historical and current end-of-day data provided by FACTSET. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Get a sample report showing our regional, country and commodities data and analysis. Low currency value = more exports. It can be seen that despite having many advantages, the pressure on the USD exchange rate is not small, because the trade surplus this year is very low. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per USD in the fourth quarter of 2021; to VND 23,000 per USD in the first quarter of 2022; to VND 23,100 per USD in the second quarter of 2022; and VND 23,200 per USD in the third quarter of 2022. by ralph124cf Wed Jul 22, 2015 8:25 pm, Post by Flashes1 Thu Jul 23, 2015 9:06 pm, Post 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. She was also kind enough to gift me a million dongs that I have no idea what to do with. For 2016, the panel projects the dong to trade at 22,108 per USD. Vietnamese Dong Revaluation; Welcome to DayStarNet.com! Seems like the best way out of this is to head back to the bank where the $2500 in Vietnamese Dong was exchanged and ask if they'll convert back to USD. The dinar became 99.3% less valuable overnight. https://creatorsourceenergy.com/#vietnamesedong #vietnamesedongrv#dongrevalue#currencyrevalue#currenctrevaluevietnamesedong#financialreset2022#financialreset2023 The Trading Economics Application Programming Interface (API) provides direct access to our data. Hopefully she will learn from her mistake. 1 Dong now equaled 10 Dongs of the old currency. Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. What does this even mean? We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. I often get calls asking about the Iraqi dinar. Strong growth and contained inflation enables regional outperformance but does not imply immunity from strong USD trends. Following are currency exchange calculator and the details of exchange rates between U.S. Dollar (USD) and Vietnamese dong (VND). Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in the That should help prevent others from getting scammed. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. by denovo Thu Jul 23, 2015 1:02 am, Post Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. 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. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. Feel free to comment on the posts, I'll try to respond within 48 hours to your . At the end of the war in 1975, the South Vietnamese dong was replaced by the liberation dong (which gets my vote as the best name for a currency ever). In this article, we look at recent exchange rates trends and some of the latest Vietnamese dong predictions from analysts. Global Currency Reset - Financial News. Still, the country has managed to reduce poverty dramatically since then. The direction of the dong could depend on the strength of the US dollar, how demand for exports from Vietnam are affected by a slowing global economy, and monetary policy in Vietnam, among other factors. dinars. Join the 480.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: 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. Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. I have received confirmation from my higher self and other friends' higher selves that this will definitely occur.https://creatorsourceenergy.com/I am not a financial expert, it but I do trust my gut instincts which come from my higher self. This currency entered the South area six years later, in 1953. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. Mizuho's 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. Jan/12. This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. H NI The Vietnamese All contributions, guest posts, and sponsored posts will be deemed owned by the publication and its owner/s. Any further interaction is asking for trouble. How Can a Country Increase the Value of Its Currency? Post At this point, their exports will decrease due to more expensive labor. At one point, the US Dollar Index (DXY) measured the dollar volatility with six other key currencies, namely, EURO, JPY, GBP, CAD, SEK, and the CHF. Shudder just thinking about it. In the joint statement, Vietnam confirmed its commitment under International Monetary Fund rules "to avoid manipulating its exchange rate in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese dong. 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. Welcome to DayStarNet.com! 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. 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. by profnot Thu Jul 23, 2015 3:36 pm, Post Watch out. These videos are for entertainment purposes only. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. Consistently sets low goals and fails to achieve them. Some people you can't help. by texasdiver Thu Jul 23, 2015 12:33 am, Post I would be worried that the 'additional paperwork' might ask for bank accounting routing and account numbers. Your worry is how to stop her sending more and more money to these criminals. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). Nazim told state-owned al-Sabah newspaper that the It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. 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%. by letsgobobby Thu Jul 23, 2015 1:01 am, Post by millionaretrucker Fri Jul 24, 2015 4:38 pm, Post It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. Currently, the US dollar is standing at a high level. On March 24, Director at Iraqs Central Bank Mahmud Dagher -John Maxwell. The dong has depreciated heavily against the U.S. dollar since 2005 (around 35%) so you would have lost over half your money in the dong. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. Vietnamese Dong. Subscriber Agreement & Terms of Use | by spectec Fri Aug 07, 2015 3:13 pm, Post One cannot enlighten the unconscious. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post Log in to see them here or sign up to get started. by Sheepdog Thu Jul 23, 2015 4:21 pm, Post Trading Economics welcomes candidates from around the world. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. While the sheer terror of realizing you may have lost a boatload of money after buying a foreign currency is bad enough, the source regretfully informed me that, Some dinar dealers are even more unscrupulous than the advertisers. by IPer Thu Jul 23, 2015 6:57 am, Post This is also the lowest exchange rate in the last five years. The Vietnamese dong has appreciated by around 2 percent against the US dollar in the last eleven months of this year. This type of regime is standard for most major economies. The currency code for Dongs is VND, and the currency symbol is . Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. 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 . It will sell 21,420 dong per U.S. dollar (not including ordinary fees). Increases in interest rates lead to currency appreciation. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. by obgyn65 Thu Jul 23, 2015 3:43 am, Post 1 U.S. Dollar = 23,230.00 Vietnamese dong, 2 U.S. Dollar = 46,460.00 Vietnamese dong, 4 U.S. Dollar = 92,920.00 Vietnamese dong, 5 U.S. Dollar = 116,150.00 Vietnamese dong, 10 U.S. Dollar = 232,300.00 Vietnamese dong, 20 U.S. Dollar = 464,600.00 Vietnamese dong, 25 U.S. Dollar = 580,750.00 Vietnamese dong, 50 U.S. Dollar = 1,161,500.00 Vietnamese dong, 100 U.S. Dollar = 2,323,000.00 Vietnamese dong, 200 U.S. Dollar = 4,646,000.00 Vietnamese dong, 250 U.S. Dollar = 5,807,500.00 Vietnamese dong, 500 U.S. Dollar = 11,615,000.00 Vietnamese dong, 1000 U.S. Dollar = 23,230,000.00 Vietnamese dong, 2000 U.S. Dollar = 46,460,000.00 Vietnamese dong, 2500 U.S. Dollar = 58,075,000.00 Vietnamese dong, 5000 U.S. Dollar = 116,150,000.00 Vietnamese dong, 10000 U.S. Dollar = 232,300,000.00 Vietnamese dong, 20000 U.S. Dollar = 464,600,000.00 Vietnamese dong, 25000 U.S. Dollar = 580,750,000.00 Vietnamese dong, 50000 U.S. Dollar = 1,161,500,000.00 Vietnamese dong, 100000 U.S. Dollar = 2,323,000,000.00 Vietnamese dong, 200000 U.S. Dollar = 4,646,000,000.00 Vietnamese dong, 500000 U.S. Dollar = 11,615,000,000.00 Vietnamese dong, 1000000 U.S. Dollar = 23,230,000,000.00 Vietnamese dong. 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. We offer competitive exchange rates and 0% commission on foreign currency. 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,. Posts: 3961. We create and curate the best articles that will help Asians achieve financial independence. 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. All quotes are in local exchange time. $100 was at 147,550 Iraqi dinars as of Monday afternoon. Source: TradingViewPast performance is not a reliable indicator of future results. The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. He said, I caution people to remember that just because a money broker is regulated, has a good rating by the Better Business Bureau and is not breaking any FTC laws doesn't mean they are trustworthy. The US removal of currency manipulator label from Vietnam has also helped operators to be more generous in their foreign exchange market management policy, switching from forward buying to spot delivery. Has anyone here ever had a legitimate transaction that required a fingerprint? 87.41% of retail investor accounts lose money when trading CFDs with this provider. by Nicolas Fri Jul 24, 2015 11:21 pm, Post What is the Dong expected to revalue at? They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. Our advertising, sponsored posts and advertorial rates are in US Dollars. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. Something went wrong while loading Watchlist. Affiliate Disclaimer: Thanks for supporting my channel. 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. This was due to the countrys division into north and south after World War II. His lopsided reporting continued under directives to omit more and more important facts and figures. Reply. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Re: Parent caught up in forex (vietnamese dong) scam What should I do? On top of all that, try finding someone to sell that currency to in order to recapture your USD. Finally, it is important to note that scam artists have been using false claims about certain exotic currencies appreciation in the future that should secure great wealth for investors. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. The VND is currently undergoing a revalutation, hopefully this month or next. 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. 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. There have been multiple variations of the Dong over the years but was fully unified into one system in 1978 after Vietnam was unified. So I invested around 60 and if it happens this will be worth nearly a million pounds. 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. 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. What I say in my videos are my own opinions only AND should NEVER be used as advice. According to the Asian Development Bank, Vietnam has increased its money supply by approximately 40% between 2012 and 2014. These are short clips under a minute by Youtube. And never invest money that you cannot afford to lose. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. However, message me below in the comments and I will post some of them. 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. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." It is now to be seen whether this trend will continue in the coming year or not. by ShiftF5 Wed Jul 22, 2015 9:02 pm, Post 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. watch now. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. 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. Right off the bat, then, theres a discrepancy representing a more than a 20% decrease in value. A million dongs seems to only be $45 so it's not something to worry about. The USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. But bad predictions werent limited to exotic currencies only. The ng has been strongly supported by the higher trade surplus and foreign reserves, VNDirect said.. Vit Nam's exports increased by 4.7 per cent year on year in January-October despite the tightening of global trade amid the . According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. http://www.forbes.com/sites/robertlaura mese-dong/. Discussions about the Iraqi dinar scam are constantly surfacing on accounting forums. Iraq devalued the dinar significantly as a part of the 2021 How old is your mother? 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. by TimeRunner Thu Jul 23, 2015 8:04 am, Post And never invest money you cannot afford to lose. If you rely on the information on this page then you do so entirely on your own risk. 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. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. 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. 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. 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. by Grogs Thu Jul 23, 2015 7:50 pm, Post The Australian dollar has also weakened, now buying 15,500 dong from 16,400 at the start of 2022. 5.99%. 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 Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. Mum will be able to exchange her Dong for USD at any currency exchanger. 0.0007. Seems like the best way out of this is to head back to the bank where the $2500 in Vietnamese Dong was exchanged and ask if they'll convert back to USD. 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. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. I am concerned about what happens in the future. The value of the Vietnamese dong against the US dollar gradually declined from the 2014 devaluation, when it was trading around 21,000, to around 23,600 in March 2020as investors sought the safe haven of the USD at the start of the Covid-19 pandemic. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. Will the Vietnamese Dong be Revalued Soon? Negosentro is very much open to accept article contributions on entrepreneurship, tech, lifestyle, travel, health and resources on a broad sense. We work hard to stay up-to-date to the every changing needs of our customers, and to meet them perfectly. Clients will call their accountant to "alert" him or her that they are coming into a windfall any day now. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. The major market events for the week ahead right in your inbox. 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 Vietnamese Dong is currently trading at about 22,700 per US Dollar. Hear My Story https://youtu.be/WWjVO34D1-AWELCOME TO RAPID UPDATES CHANNEL. FocusEconomics Consensus Forecast panellists expect the dong to trade at 21,812 per USD at the end of this year. 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. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. by denovo Thu Jul 23, 2015 12:57 am, Post by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. Negosentro.com respects your privacy. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible.
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