will the vietnamese dong ever revalue

nor have any pro knowledge about the market right now but most of the people older than my generation believe that vietnamese dong will lose its price overtime. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. 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. 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. Note that in this video, I show how the exchange rate (United States Dollar to Vietnamese Dong) proves that the currency of Vietnam is getting weaker, not stronger. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. 1 Dong now equaled 10 Dongs of the old currency. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. Risk Disclosure Statement. Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. 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. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. Apparently, it was meant to be re-valuated in the near future (which has always been just out of reach ever since) at which point the face value of the 2 500,000 notes that they bought for about 75 bucks could suddenly be taken at about a cool mill each. Keep in mind that past performance is no guarantee of future returns. This was due to the countrys division into north and south after World War II. 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. 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. Increases in interest rates lead to currency appreciation. Global Currency Reset - Financial News. 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 . Opinions expressed by Forbes Contributors are their own. by corn18 Thu Jul 23, 2015 7:11 am, Post 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). The Treasury said it would inform other U.S. government agencies about the agreement to address U.S. concerns. 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 . 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. Helps the rest of us stay on our toes. Unless you try to do something beyond what you have already mastered you will never grow. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. 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. Report Save Follow. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Questions. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. The weakness in the Vietnamese currency is a reflection of the strength of the dollar, as the dong has strengthened against the euro, British pound sterling, Australian dollar and Japanese yen as those currencies face greater macroeconomic challenges. by MossySF Fri Jul 24, 2015 11:14 pm, Post A few years ago my grandparents gave my mom some foreign currency, Vietnamese Dong I think, as a birthday present. Now, lets dive deeper into what currency revaluation is and what are its main drivers. 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 spectec Thu Jul 23, 2015 6:46 am, Post You should do your own research to develop a view of the currency as an investment. by Flashes1 Thu Jul 23, 2015 9:06 pm, Post All quotes are in local exchange time. VND - Vietnamese Dong. 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 . I only recommend products or services I currently use and love. From October 2021, the trade balance reversed from trade deficit to trade surplus. Mustafa al-Kadhimis cabinet was bold in taking this decision as it was in the At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Did she ever receive any bills for service? 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. | "All I need are some tasty waves, a cool buzz, and I'm fine." devaluation of Iraqi dinar is an idea that has been discussed for years. White label accounts can distribute our data. Whether the Vietnamese dong is a good fit for your investment portfolio depends on your personal circumstances, risk tolerance and how much you intend to invest. 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. 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. 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? This is also the lowest exchange rate in the last five years. by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. I live in Vietnam. In my opinion, they dont fit anywhere! The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. The Vietnamese Dong is currently trading at about 22,700 per US Dollar. 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. 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. At this point, their exports will decrease due to more expensive labor. There are currently no items in this Watchlist. 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. 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. However, he found the exchange rate much higher at Vietnam's . 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. Will the Vietnamese Dong be Revalued Soon? This year, Vietnam received a substantial flow of remittances. Let us know what do you think about it? by IPer Thu Jul 23, 2015 6:57 am, Post But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. | 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. I am concerned about what happens in the future. Some ways that a country can improve its currency is by purchasing its own currency and selling foreign exchange assets to do so. 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. ", 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. Fortunately, she only bought in once and didn't waste all her savings on it. 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). by ShiftF5 Wed Jul 22, 2015 9:04 pm, Post The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. That should help prevent others from getting scammed. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. Currencies are affected by a variety of factors. It can also raise interest rates, reduce inflation, and implement supply-side economic policies, such as increasing competitiveness. This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. This currency entered the South area six years later, in 1953. What affects the Vietnamese dongs value? by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post Add like 3-5% and that's it. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. I contribute to many blogs. 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.

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