devaluation of Iraqi dinar is an idea that has been discussed for years. Create a list of the investments you want to track. Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. by TradingPlaces Fri Jul 24, 2015 9:28 pm, Post The Vietnamese dong (VND) is the official currency of Vietnam. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. 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. In the first half of 2021, the exchange rate stabilized around VND23,000 to VND23,100 per US dollar, but in the second half of the year, the US$/VND exchange rate continued to follow a downtrend, meaning that the Vietnam dong showed increase. Will the Vietnamese dong revalue 2021? A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. 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. Posts: 3961. Hopefully she will learn from her mistake. And never invest money you cannot afford to lose. 0.0007. by wander Wed Jul 22, 2015 8:40 pm, Post At the same time, the value of Vietnam's foreign exchange reserves as reported by BIDV Securities Joint Stock Company (BSC), have reached US$105 bn. 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? Questions. The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. Privacy Notice | by profnot Thu Jul 23, 2015 3:36 pm, Post 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. Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. A variety of factors can trigger currency revaluation. In fact, the cycle of inflation lasted from 1985 until the mid-nineties. 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. This currency entered the South area six years later, in 1953. That would be a really elaborate plan to mug someone. 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. Will the Vietnamese Dong be Revalued Soon? It is issued by the State Bank of Vietnam.The dong was also the currency of the predecessor states of North Vietnam and South Vietnam, having replaced the previously used French Indochinese piastre. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. $100 was at 147,550 Iraqi dinars as of Monday afternoon. Share. call +44 20 8089 7893 [email protected], CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. Vietnamese Dong Revaluation; Welcome to DayStarNet.com! We offer competitive exchange rates and 0% commission on foreign currency. Ask Larry: Do I Need To File And Suspend My Social Security at 66? The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Will the Vietnamese dong ever revalue? Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. by ShiftF5 Wed Jul 22, 2015 9:02 pm, Post by LadyGeek Wed Jul 22, 2015 9:22 pm, Post The last series of the notes entered the market in 2003. I don't think they are out to mug her at the paperwork exchange. One cannot enlighten the unconscious. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. I often get calls asking about the Iraqi dinar. When you run the revaluation process, the balance in each bank account that is posted in a foreign currency will be revalued. We have laid out our Privacy Policy and our Terms & Conditions in using this site. There are over 70 currencies in Asia and, once the word gets out about the dinar and dong, I suspect that the Thai baht or Mongolian tughrik, both of which have performed well lately against the US dollar, will be next on the chopping block. 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. For inquiries, please Contact us! One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. I just saw the whole thing about going to do anther state, now it's a safety issue too. The value of the US dollar has soared in 2022 in response to the Federal Reserve (Fed) rapidly hiking interest rates in an effort to tame record inflation. "Don't trust everything you read on the Internet"- Abraham Lincoln. 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. 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. Jan/12. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. On the other hand, in a floating exchange rate system changes in the value of the currency are generated by market forces. Are you looking for a Vietnamese dong forecast to inform your trading? Historical and current end-of-day data provided by FACTSET. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. Depending on future circumstances, the Vietnamese official currency could see a rise in its value, but it depends on the further development of the ongoing global health crisis and the pace at which the global economic and business environment will improve. The dinar became 99.3% less valuable overnight. I live in Vietnam. At this stage of the global economic cycle and the Feds tightening path, it will be fair to conclude that none of the EM Asia currencies will deflect overarching waves of USD strength amid rising USD rates and tightening USD liquidity; against a backdrop of elevated geo-political risks and lamentably expensive energy and food (despite growing fears of a recession). Will Iraqi dinar ever revalue? Following are currency exchange calculator and the details of exchange rates between U.S. Dollar (USD) and Vietnamese dong (VND). Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. Relative economic strength can be used to forecast the direction of exchange rates. Buy VND with Confidence. The unrealized gain or loss transactions that are created during the revaluation process are system-generated. losed Joint Stock Company FinTech Solutions. Fortunately, she only bought in once and didn't waste all her savings on it. by ShiftF5 Wed Jul 22, 2015 9:04 pm, Post 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. Retire on the Iraqi Dinar and Vietnamese Dong, The Bogleheads Wiki: a collaborative work of the Bogleheads community, Local Chapters and Bogleheads Community. 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 . A trade surplus and moves by the State Bank of Vietnam (SBV) have supported the dong against other currencies such as the euro (EUR), which is facing its own pressures stemming from the Russia-Ukraine conflict and an economic slowdown. 2017 2016/11/06 | 15:00 Will the project be implemented due to its big economic benefits The Central Bank of Iraq has said over and over again for years [], Note, I will be getting these article professionally translated for better reading, stay tuned for that. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). 5%. DO YOUR OWN RESEARCH. Answer (1 of 2): You can type on Google. . Please like this video!Join . This corresponds to the State Bank of Vietnam twice lowering the buying price of the US dollar. The video here explains that there is a possible revaluation of the Vietnamese Currency, the Dong, abbreviated VND. 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. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. Nazim told state-owned al-Sabah newspaper that the Ask Larry: Can My Wife Restrict Her Social Security Application To Spousal Benefits Only? Please note, there are more [], Dinar Inc Iraq Currency Dealer From Florida, Dinar Vets Hacked Website Warning Adam Montana. Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. Today, its the Iraqi dinar scams that are overflooding the market. Capital Com is an execution-only service provider. by Grogs Thu Jul 23, 2015 7:50 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. Here is the video I created as I did my YouTube livestream. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). They are optimistic because the countrys exports increased rapidly, making a higher trade surplus. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. 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. White label accounts can distribute our data. And then actually report them. 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. Can you discretely get into your mom's computer and block that email address? 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. On the other hand, a decrease in demand can weaken the currency. Both monetary units are often referred to as scam currencies for good reason. Parent caught up in forex (vietnamese dong) scam What should I do? At this point, their exports will decrease due to more expensive labor. . 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! The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. 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. 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. A million dongs seems to only be $45 so it's not something to worry about. Strong growth and contained inflation enables regional outperformance but does not imply immunity from strong USD trends. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. by MossySF Fri Jul 24, 2015 11:14 pm, Post Tue, Dec 22 2020 2:50 AM EST. Scores of people have purchased Iraqi dinars from fast-talking promoters and online currency dealers promising windfall profitssome predicting as much as 1,000 times their original investmentwhen the currency is revalued. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Generally speaking, politically stable countries with minimal risks of any kind of turmoil are more attractive to foreign investors. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? The thumbprint is a nice touch. Just wow. 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. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. 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. said that the price will be fixed at the current price for the next four years. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Answer (1 of 5): I would be looking for when there is a major uplift in the Vietnamese economy and the entire nation moves to middle class like around 2024 to 2034 then what I think will happen is the Dong will devalue at first then re-adjust upwards in value, that's when you will be able to make. I contribute to many blogs. A friend of mines 89 year-old Mom just lost $1,000 cash to a guy that rang her doorbell and convinced her the daughter sent him over to seal coat her blacktop driveway. 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. 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. In 1985, the Dong was revalued. The Vietnamese dong (VND) is the official currency of Vietnam. A brief history of the dong. What are the advantages of position analysis questionnaire? Thank you for supporting the channel. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. | "All I need are some tasty waves, a cool buzz, and I'm fine." Copyright 2023 MarketWatch, Inc. All rights reserved. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. However, he found the exchange rate much higher at Vietnams Agribank. Vietnam struggled with a declining economy for a long time. Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). He said that the former government did not dare to take this 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. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. I reached out to several currency exerts to help me explain the ins and outs of this ridiculous business in an effort to help retirees and other investors avoid falling victim to this and similar currency scams going forward. This makes the purchase of foreign goods in foreign currencies less expensive to domestic importers. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. Rumors of an (IQD) revaluation have been around for a number of years and they continue to attract a substantial number of believers. by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post Also, make sure you sign up to my FREE newsletter below: Last Updated On: December 5, 2016 By: Nick Giammarino Subscribe to the [], Benefits of dropping zeros of Dinar 2016/11/06 | 15:00 . As a matter of fact, the Dong was . The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per US$. 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. 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. 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 use these products and if they are awesome, then you should know about it! 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. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. Add like 3-5% and that's it. 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$299.45 bn, up by 27. With the U.S lifting the trade embargo and laxer governance by the Communist Government, economic prosperity has finally begun. . I want to help emerging economies anyway I can. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. Currently, the US dollar is standing at a high level. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. 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). Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. Will the Vietnamese Dong RV Revalue? The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. She was also kind enough to gift me a million dongs that I have no idea what to do with. Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. That should help prevent others from getting scammed. 2. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post However, he found the exchange rate much higher at Vietnam's . 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. Consistently sets low goals and fails to achieve them. It weakened the Vietnamese dong at the time, with inflation running at up to 900%. Conversely, domestic exporters will see a decline in exporting business as the exporting goods are now more expensive to foreign importers. They sell counterfeit currencies, which will be absolutely worthless if people ever try to redeem them.. I'd nip this in the bud. What does this even mean? Dinar Revaluation Will the Iraqi Currency RV? by denovo Thu Jul 23, 2015 12:57 am, Post Reply. In a recent interview, Mr. Ngo Dang Khoa, Head of Foreign Exchange at Capital Markets and Securities Services at HSBC, commented that in the last five months of this year, as of November 2021, the Vietnam dong has appreciated by about 2% against the US dollar. Prepare to run foreign currency revaluation. This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. Vietnamese Dong. Hassan Nazim said on Monday (September 6) that the price of US dollar against Join the 480.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: 5.99%. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. 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. The Vietnamese dong is expected to remain strong in 2021. On a national scale, the World Bank and the international cooperation organization on migrants KNOMAD, forecast that the amount of remittances to Vietnam in 2021 will be US$18.1 bn, ranking 8th in the world and third in the Asia-Pacific region. All quotes are in local exchange time. -Jeff Spicoli. by dolphinsaremammals Fri Jul 24, 2015 4:53 pm, Post I had someone do a transcript of the call. -Seneca. Is the Iraqi dinar ever going to revalue? At the time, this was the result of only superficial research. Negosentro is very much open to accept article contributions on entrepreneurship, tech, lifestyle, travel, health and resources on a broad sense. Did she ever receive any bills for service? Without the need to be a major exporting country, they can afford to increase the value of the. The country has seen an influx of foreign investments since, its gross domestic product rose, while the core inflation remains low. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. Will the Vietnamese Dong be Revalued Soon? She got off easy. So, the dong does not appear to be a good investment based upon its risk-reward profile either.. Still, the country has managed to reduce poverty dramatically since then. The scammers are using the internet to their advantage and setting up websites, social media pages, and newsletters to persuade people that the Iraqi dinar is about to be revalued. Has anyone here ever had a legitimate transaction that required a fingerprint? Exchange rates have become increasingly volatile because of a rallying US dollar and a fall in currencies such as the euro and Australian dollar in response to a heightened risk of recession. Together with the expansion of foreign reserves, it has been strongly supporting the nations official currency.