The Vietnamese Dong is currently trading at about 22,700 per US Dollar. Unless I had law enforcement watching my back. The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. -0.95%. -John Maxwell. 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. by pierremonfrere Thu Jul 23, 2015 6:45 pm, Post Therefore, from a single page, you can revalue banks across all the legal entities that you have access to. 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I am concerned about what happens in the future. The VND/USD exchange rate was at a low of 0.00004190 on 30 September. What affects the Vietnamese dongs value? 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 . 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. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post 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. Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. The bills are colorful and the numbers used are very large. The Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. So though a currency revaluation might be good for a country's currency, it makes its goods more expensive, possibly hurting the level of exports. 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. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. I have no idea if that would work or would just make things even worse. Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. 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. Post The value of the currency is influenced by Vietnams trade flows, foreign currency reserves, economic growth, interest rates and inflation, as well as US monetary policy. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). The Trading Economics Application Programming Interface (API) provides direct access to our data. Has anyone here ever had a legitimate transaction that required a fingerprint? On top of all that, try finding someone to sell that currency to in order to recapture your USD. by corn18 Thu Jul 23, 2015 7:11 am, Post Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. 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. Negosentro.com respects your privacy. 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. Law and does not change. Iraq devalued the dinar significantly as a part of the 2021 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%. http://www.forbes.com/sites/robertlaura mese-dong/. by Nicolas Fri Jul 24, 2015 7:02 pm, Post Discussions about the Iraqi dinar scam are constantly surfacing on accounting forums. 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. Let us know what do you think about it? So I thought it was worth a gamble. I don't think they are out to mug her at the paperwork exchange. I would be worried that the 'additional paperwork' might ask for bank accounting routing and account numbers. . Hear My Story https://youtu.be/WWjVO34D1-AWELCOME TO RAPID UPDATES CHANNEL. This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. dinars. Just wow. Both monetary units are often referred to as scam currencies for good reason. 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. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). 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. This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. 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. On March 24, Director at Iraqs Central Bank Mahmud Dagher Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. Practically speaking, the Dong is virtually worthless. Forbes had an article of the scams in their 3/24/15 issue titled. Looking forward, we estimate it to trade at 22950.00 in 12 months time. 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. 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 third quarter and 23,300 by the end of next year. 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). by TimeRunner Thu Jul 23, 2015 8:04 am, Post by Flashes1 Thu Jul 23, 2015 9:06 pm, Post by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post 1. There are no signs that Iraq may revalue the dinar in the immediate future. Exchange rates are bilateral, so the improvement in one currency means the decline of another; however, because the world is intertwined, changes in currency values can have far-reaching consequences, which could impact the levels of imports and exports. "Don't trust everything you read on the Internet"- Abraham Lincoln. Historical and current end-of-day data provided by FACTSET. 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. In addition to these four factors, large-scale events that impact the overall economy, its competitiveness and profitability, can also alter the value of a currency. The major market events for the week ahead right in your inbox. There are currently no items in this Watchlist. by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post Also, there are many factors in play that affect exchange rates and a currencys value, such as a countrys economic performance, the prospect of inflation, capital flows, and plenty of others. watch now. by Index Fan Fri Aug 07, 2015 12:13 pm, Post I share my thoughts and ideas I pick up from everywhere I go. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. This is where greed enters the scam and investors compound their losses. PEO vs Staffing Agencies: Which Is Right for Your Business? However, it should be known that the currency of Vietnam has actually been devalued over the past few years. The last series of the notes entered the market in 2003. 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.
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