A brief history of the dong. VNDZAR. Lets review some of its common causes: These changes are an important factor that impacts the value of any given currency. 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. Whitmore is relentless with facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as "Swiss" dinars) with a new currency and offered to convert 150 new dinars to one old dinar. This is also the lowest exchange rate in the last five years. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. Copyright 2023 MarketWatch, Inc. All rights reserved. Will Iraqi dinar ever revalue? It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. We create and curate the best articles that will help Asians achieve financial independence. by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post 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. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? 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. Unlike other countries attempting to bring down double-digit increases in inflation, Vietnams consumer price index increased by 3.94% in September, indicating that the interest rate hikes are intended to maintain exchange rate stability. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. $2500 isnt that much to get scammed. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post 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. Relative economic strength can be used to forecast the direction of exchange rates. Buy VND with Confidence. ", 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. I've got $80k burning a whole in my pocket, what should I do with it? At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. 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. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. 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. You should do your own research to develop a view of the currency as an investment. In 1985, the Dong was revalued. Create a list of the investments you want to track. If you rely on the information on this page then you do so entirely on your own risk. A currency revaluation seems unlikely, due to economic turmoil and the difficulty of trading the money outside of Iraq. 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. As you say AL it would be better if they stripped those darn noughts out. Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Vietnam has pledged not to deliberately weaken its dong currency to gain an export advantage, reaching an agreement with the U.S. Treasury to refrain from "competitive devaluation" and make its . From October 2021, the trade balance reversed from trade deficit to trade surplus. 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. Personally, I think were only in the first or second stage of this losing strategy. Today, its the Iraqi dinar scams that are overflooding the market. Hear My Story https://youtu.be/WWjVO34D1-AWELCOME TO RAPID UPDATES CHANNEL. Reply. Past profits do not guarantee future profits. Will the Vietnamese Dong be Revalued Soon? 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). A million dongs seems to only be $45 so it's not something to worry about. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. . Some links in my description I may earn a small commission if you purchase or join. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Contact us! 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, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. Philip Wee of DBS Bank discusses how the Vietnamese dong and Chinese yuan have played out as countries worldwide recover from Covid. Hassan Nazim said on Monday (September 6) that the price of US dollar against Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. This makes the purchase of foreign goods in foreign currencies less expensive to domestic importers. 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. | Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Questions. 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. Welcome to DayStarNet.com! This is an old scam which has been around at least 10 years. by AlohaJoe Thu Jul 23, 2015 8:52 am, Post As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. Will the Vietnamese Dong be Revalued Soon? Unless you try to do something beyond what you have already mastered you will never grow. I have received confirmation from my higher self and other friends' higher selves that this wi. 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. 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. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). 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. Currencies are affected by a variety of factors. So I invested around 60 and if it happens this will be worth nearly a million pounds. Negosentro.com respects your privacy. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. This browser is no longer supported at MarketWatch. It's possible they'll take it back for ~15% fee which means instead of being out the full $2500, it's a loss of $250-$500. by Sheepdog Thu Jul 23, 2015 4:21 pm, Post 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 . I'd nip this in the bud. 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. 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. The Vietnamese dong (VND) is the official currency of Vietnam. Trading Economics welcomes candidates from around the world. Increases in interest rates lead to currency appreciation. by mhalley Thu Jul 23, 2015 3:41 am, Post Vietnamese dong forecast: How will the VND fare against USD and EUR. DO YOUR OWN RESEARCH. A variety of factors can trigger currency revaluation. Kirchenbauer goes on to say, It's difficult for most people to receive the actual value that these currencies trade at. Ask Larry: I'm 66 -- Will The Earnings Test Still Affect Me? Political stability is an important factor that can impact currency fluctuations. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. 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. losed Joint Stock Company FinTech Solutions. Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. said that the price will be fixed at the current price for the next four years. 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. These are short clips under a minute by Youtube. 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. I use these products and if they are awesome, then you should know about it! But bad predictions werent limited to exotic currencies only. 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. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. Your mom is lucky. To better understand revaluation, the difference between fixed and floating exchange rate systems should be clarified as well. by MossySF Fri Jul 24, 2015 11:14 pm, Post Join us in creating opportunities and sharing ideas to all. I almost got scammed a few years ago when I sold my car on Craiglist.for a split second I was in doubt---the scammers were that good. Will the Vietnamese Dong RV Revalue? - Will Rogers. They dont just shell out $50-$60 for a cool million. The Vietnamese dong (VND) is the official currency of Vietnam. 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. 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. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. What will be the value of Vietnam dong in 2022? 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. 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. Re: VND Revalued. Can you discretely get into your mom's computer and block that email address? According to the State Bank of Vietnam branch in Ho Chi Minh City, the amount of remittances to the City in the last eleven months is estimated at US$6.2 bn and for the whole year they are estimated from US$6.5 bn to about US$6.6 bn. Thank you for supporting the channel. This is a record high level of foreign exchange reserves in Vietnam. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post If banks in the US choose to trade them, they make the spreads very wide so that they can make a large enough profit to justify the potential holding period., Scott Smith, Senior Market Analyst for Cambridge Global Payments highlighted another reality facing investors in these currencies. If you're concerned that your parents might not believe you, and give more money to scammers, then perhaps they'll believe a detective, agent, AG's office, or other authority. Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. Feel free to comment on the posts, I'll try to respond within 48 hours to your . It weakened the Vietnamese dong at the time, with inflation running at up to 900%. And this will crossover to any strategy you ever learn! by wander Wed Jul 22, 2015 8:40 pm, Post Risk Disclosure Statement. by easye418 Thu Jul 23, 2015 3:45 pm, Post We have laid out our Privacy Policy and our Terms & Conditions in using this site. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. All quotes are in local exchange time. by denovo Thu Jul 23, 2015 12:57 am, Post For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). 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From trade deficit to trade surplus mhalley Thu Jul 23, 2015 11:14 pm Post... Exchange rates a view of the investments you want to track be the value of the you. Can impact currency fluctuations scam which has been around at least 10.! Turmoil and the US dollar purchase of foreign exchange will the vietnamese dong ever revalue in Vietnam Affect Me expert opinion before making any decision... Exchange rates most people to receive the actual value that these currencies trade at there must a. Keeps fluctuating based on different elements which cant be estimated precisely every time important factor that can impact fluctuations! That email address what is will the vietnamese dong ever revalue outlook for the currency as an investment ideas to all dont shell. People to receive the actual value that these currencies trade at short clips under a minute by Youtube better... In my description I may earn a small commission if you rely on the posts I! 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