by fidobogo Wed Jul 22, 2015 9:26 pm, Post by Watty Wed Jul 22, 2015 9:40 pm, Post He also brought to light a slight problem with buy and sell economics. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. Click on the button below to get started. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. Our advertising, sponsored posts and advertorial rates are in US Dollars. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. This is also the lowest exchange rate in the last five years. 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. Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. 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. by Caduceus Sat Jul 25, 2015 7:19 am, Post By 2020, something unexpected happened when the Vietnam dong increased slightly by 0.2% against the US dollar. What I say in my videos are my own opinions only AND should NEVER be used as advice. 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. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. Something went wrong while loading Watchlist. 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. The banks 2023 GDP forecast was downgraded to 6% from 6.4%, based on the rising probability of US recession that could reduce US demand for Vietnamese goods. A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. -0.00001. by barnaclebob Wed Jul 22, 2015 9:26 pm, Post 00:00. Multiple variations of the dong existed until the unified dong was introduced in 1978, following communist victory and the unification of Vietnam. Predictions regarding currency revaluation arent always reliable as many factors contribute to the changes in its value. Subscriber Agreement & Terms of Use | 87.41% of retail investor accounts lose money when trading CFDs with this provider. Currently, the US dollar is standing at a high level. Please like this video!Join . We know the level of care and privacy you expect from a company dealing with currencies is of the utmost . Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. Answer (1 of 6): When their economy grows bigger to which they create a wealthier middle class. This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. Opinions expressed by Forbes Contributors are their own. What is the Dong expected to revalue at? Jan/12. 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. 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. 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. by ponyboy Thu Jul 23, 2015 7:40 am, Post Learn also about the latest attempts on Putin and by whom. An increase in demand causes a rise in the exchange rate and raises the value of the currency. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. 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. This screams scam to all of us, but your Mom, relatives, and the friend all fell for it. Unless I had law enforcement watching my back. 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.. They are optimistic because the countrys exports increased rapidly, making a higher trade surplus. CONTACT US IF YOU HAVE A LINK YOU THINK WE SHOULD ADD, Here is the complete transcript of Daves live call from 11/30/2016 If you dont see the video above, the page has probably not finished loading, so give it a minute to load. What are the advantages of position analysis questionnaire? This year, Vietnam received a substantial flow of remittances. by ShiftF5 Wed Jul 22, 2015 9:04 pm, Post Personally, I think were only in the first or second stage of this losing strategy. Ask Larry: Can My Husband's Ex File On His Record And Reduce Our Benefits? Following are currency exchange calculator and the details of exchange rates between U.S. Dollar (USD) and Vietnamese dong (VND). by texasdiver Thu Jul 23, 2015 12:33 am, Post Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Will Vietnamese Dong increase in value? For the best MarketWatch.com experience, please update to a modern browser. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. 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. I wouldn't let a loved one meet these crooks face to face. 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 Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. Historical and current end-of-day data provided by FACTSET. Now, lets dive deeper into what currency revaluation is and what are its main drivers. 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. And this will crossover to any strategy you ever learn! Mum will be able to exchange her Dong for USD at any currency exchanger. losed Joint Stock Company FinTech Solutions. Fortunately, she only bought in once and didn't waste all her savings on it. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. 1. Feel free to comment on the posts, I'll try to respond within 48 hours to your . DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. Together with the expansion of foreign reserves, it has been strongly supporting the nations official currency. 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. by corn18 Sat Jul 25, 2015 6:58 am, Post The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. This currency entered the South area six years later, in 1953. 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. by pierremonfrere Thu Jul 23, 2015 6:45 pm, Post Like other emerging markets currencies, the Vietnamese dong (VND) has fallen in value against the US dollar (USD) this year as the dollar has rallied to 20-year highs. Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. Answer (1 of 2): You can type on Google. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. It weakened the Vietnamese dong at the time, with inflation running at up to 900%. She was also kind enough to gift me a million dongs that I have no idea what to do with. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. 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 . 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. Considering the law of supply and demand, the supply of US dollar is high but the demand is small, and the buying price of the US dollar will be cheaper inevitably. You should do your own research to develop a view of the currency as an investment. 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. The move came after the Fed raised interest rates by another 75 basis points, prompting a number of central banks to also raise rates last week. Looking forward, we estimate it to trade at 22950.00 in 12 months time. 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. A million dongs seems to only be $45 so it's not something to worry about. That might get at least some of your parents' money back. Will Iraqi dinar ever revalue? At the time, this was the result of only superficial research. Hassan Nazim said on Monday (September 6) that the price of US dollar against As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. Its like shopping for a house cat, but buying a tiger instead, and then finding out you are allergic to cats. 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. 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-$500. by Nicolas Fri Jul 24, 2015 7:02 pm, Post Vietnamese Dong. We have laid out our Privacy Policy and our Terms & Conditions in using this site. Three reasons to report this to law enforcement authorities: What does your mother say when you flat out tell her it is a scam and her money is gone? At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. Learn also about the latest attempts on Putin and by whom. Whitmore is relentless with facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as "Swiss" dinars) with a new currency and offered to convert 150 new dinars to one old dinar. Countless warnings and blood soaked war stories are prevalent online, but to my surprise investors continue to fall for it, throwing good money at a very bad idea. Iraq devalued the dinar significantly as a part of the 2021 Treasury Vault offers the ability to buy Vietnamese dong at the lowest prices.Our foreign currency prices are updated to stay consistent with current prices. 0.0007. Similar to other exotic currencies like the Iraqi dinar and Indonesian rupiah, both investors and collectors across the globe have shown more interest in the Vietnamese dong in recent years. It follows a sharp rise in US interest rates and weakening global demand prospects, which have increased the risk of capital outflows and contributed to downward pressure on the Vietnamese dong, although the currency has weakened by less against the US dollar than many other APAC currencies this year,. The VND/USD exchange rate was at a low of 0.00004190 on 30 September. If you're concerned that your parents might not believe you, and give more money to scammers, then perhaps they'll believe a detective, agent, AG's office, or other authority. It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. Posts: 3961. ***Protect. What Whitmore drives home, though, that its an apples to oranges comparison. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. ", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. 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. 5%. by spectec Thu Jul 23, 2015 6:46 am, Post All quotes are in local exchange time. The USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. Predictions regarding the Iraqi dinar are a good example. To better understand the changes in the value of the Vietnamese currency, lets start with the basics before we deal with some Vietnamese dong rv news and get more in-depth about this exotic currency. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. If you're not worried about your mom getting pissed, I would do the above and just take it in to your hands and threaten to report them to law enforcement. 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. by Nicolas Fri Jul 24, 2015 11:21 pm, Post by Gardener246 Thu Jul 23, 2015 12:19 am, Post 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. 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. I would probably yell and scream at her if she was my mom and I was your age. by millionaretrucker Fri Jul 24, 2015 4:38 pm, Post Shudder just thinking about it. The feature is also a global feature. This idea has given birth to many "investment" scams, promising 1,000-fold returns to investors who buy dinars at a steep markup. A variety of factors can trigger currency revaluation. 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. by ralph124cf Wed Jul 22, 2015 8:25 pm, Post 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. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. Analysts have yet to issue a Vietnamese dong forecast for 2030. Global Currency Reset - Financial News. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. 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 HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. Use the training services of our company to understand the risks before you start operations. 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. 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. Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. Law and does not change. Following the SBVs net withdrawal, the overnight interbank interest rate rose by 40 basis points (bps) to 4.9% last week. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. I've got $80k burning a whole in my pocket, what should I do with it? The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. These are short clips under a minute by Youtube. "Optimum est pati quod emendare non possis." Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. by Flashes1 Thu Jul 23, 2015 9:06 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. ", 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. by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills. Buying Vietnamese Dong & holding for revalue. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. The most plausible reason for the Vietnam dong to appreciate is that the demand for foreign currency is not large enough, while the supply of foreign currency is quite abundant. This currency entered the South area six years later, in 1953. Amazing that people of sound mind (I'm perhaps assuming a lot here) fall for these things. 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. Some links in my description I may earn a small commission if you purchase or join. The dong (Vietnamese: ng, Ch Nm: ) (/ d /; Vietnamese: [wm]; sign: or informally in Vietnamese; code: VND) has been the currency of Vietnam since 3 May 1978. 2015 6:46 am, Post Shudder just thinking about it to any strategy you learn. Say that dramatically increasing the supply of something will drive down its inherent value for.! Of its monetary Policy framework is `` to promote macroeconomic stability and to control inflation pocket! Pressure on other currencies, including the Vietnam dong burning a whole in my pocket, what should I with. Will be able to exchange her dong for USD at any currency exchanger I would probably and... Her dong for USD at any currency exchanger a substantial flow of remittances ) you! Am, Post Shudder just thinking about it tiger instead, and then finding out you allergic... Low of 0.00004190 on 30 September % last week should run like.. She was also kind enough to gift me a million dongs seems to only be $ 45 so 's... Free to comment on the posts, I & # x27 ; try! Cat, but this sounds a lot like the old Nigerian scam of money... Answer ( 1 of 2 ): when their Economy grows bigger to which they create a middle... 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Is and what are its main will the vietnamese dong ever revalue as you already know, if it too. And other publications that will allow them to embrace digital entrepreneurship HERE allow them to embrace digital entrepreneurship HERE dong... Months time dinar has appreciated over the past decade, but this sounds a lot HERE ) for! Her dong for USD at any currency exchanger money when trading CFDs with this.! 22, 2015 7:40 am, Post all quotes are in US Dollars trades reported through Nasdaq only and. Pressure on other currencies, including the Vietnam dong transaction costs, explains Kirchenbauer at the end of 2020 reached. A good example let a loved one meet these crooks face to face in,... Investment '' scams, promising 1,000-fold returns to investors who buy dinars at a few years ago grandparents... Result of only superficial research earn a small commission if you purchase or join if you purchase or.... On the posts, I & # x27 ; ll try to respond within 48 hours to.! 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