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. Jan/12. The two versionswere unified when the country became one in 1978. Enter the amount of money to be converted from U.S. Dollar (USD) to Vietnamese dong (VND), it is converted as you type. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. by ralph124cf Wed Jul 22, 2015 8:25 pm, Post Parent caught up in forex (vietnamese dong) scam What should I do? Source: TradingViewPast performance is not a reliable indicator of future results. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. 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. By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. These are short clips under a minute by Youtube. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. On top of all that, try finding someone to sell that currency to in order to recapture your USD. In my opinion, they dont fit anywhere! 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. I share my thoughts and ideas I pick up from everywhere I go. Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. Iraq devalued the dinar significantly as a part of the 2021 | "All I need are some tasty waves, a cool buzz, and I'm fine." How old is your mother? 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. 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. Past profits do not guarantee future profits. In November this year, the US dollar climbed to a 16-month high when the US announced its highest inflation rate in the last thirty years. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. However, he found the exchange rate much higher at Vietnam's . by TimeRunner Thu Jul 23, 2015 8:04 am, Post Prepare to run foreign currency revaluation. All contributions, guest posts, and sponsored posts will be deemed owned by the publication and its owner/s. The Vietnamese Dong is the currency of Viet Nam. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. We have a plan for your needs. Retire on the Iraqi Dinar and Vietnamese Dong, The Bogleheads Wiki: a collaborative work of the Bogleheads community, Local Chapters and Bogleheads Community. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. To better understand revaluation, the difference between fixed and floating exchange rate systems should be clarified as well. 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). 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. by Nicolas Fri Jul 24, 2015 7:02 pm, Post Currencies are affected by a variety of factors. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. Prior to this, South Vietnam was also dominated by piastre notes. 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. I just saw the whole thing about going to do anther state, now it's a safety issue too. 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. Vietnamese Dong. 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 . It weakened the Vietnamese dong at the time, with inflation running at up to 900%. Pressure on currencies 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. Keep in mind that past performance is no guarantee of future returns. 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. Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). What is a realistic Vietnamese dong forecast for the future? 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. 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. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. The promises of high returns are particularly aimed at the most vulnerable populations like the elderly. But bad predictions werent limited to exotic currencies only. 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. 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 . According to the Asian Development Bank, Vietnam has increased its money supply by approximately 40% between 2012 and 2014. What Whitmore drives home, though, that its an apples to oranges comparison. by ponyboy Thu Jul 23, 2015 7:40 am, Post Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. This was due to the country's division into north and south after World War II. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. Both monetary units are often referred to as scam currencies for good reason. 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$17.1 bn. Inflation in recent years has also been well controlled, reinforcing confidence in the Vietnamese dong. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. Hassan Nazim said on Monday (September 6) that the price of US dollar against "Don't trust everything you read on the Internet"- Abraham Lincoln. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post Also, you can convert in the reverse direction (from VND to USD). In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. "Optimum est pati quod emendare non possis." Visit a quote page and your recently viewed tickers will be displayed here. I am concerned about what happens in the future. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. Will the Vietnamese Dong be Revalued Soon? DO YOUR OWN RESEARCH. Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills. 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. by JW-Retired Wed Jul 22, 2015 8:53 pm, Post The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. losed Joint Stock Company FinTech Solutions. 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. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. - Will Rogers. Reid Kirchenbauer of InvestAsian.com says, The dinar and dong, along with many other thinly traded currencies, are hard to get at a fair price in the United States. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. Vietnam has been establishing itself as a stable economy for a while, and a stronger Vietnamese dong would attract even more foreign capital to be invested in the country. by ShiftF5 Wed Jul 22, 2015 9:02 pm, Post A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. 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.
