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. 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. 100 U.S. Dollar = 2,323,000.0000 Vietnamese dong. by corn18 Thu Jul 23, 2015 7:11 am, Post Any further interaction is asking for trouble. 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. . ", 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. 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. I'd nip this in the bud. 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. 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). In my opinion, they dont fit anywhere! However, it should be known that the currency of Vietnam has actually been devalued over the past few years. The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. 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. That would be a really elaborate plan to mug someone. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. After the outbreak of the Covid-19 pandemic, Vietnam lost its net revenue from tourism to the tune of almost US$5 to 6 bn. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. 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. Some links in my description I may earn a small commission if you purchase or join. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. 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. 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. Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. 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. Conversely, domestic exporters will see a decline in exporting business as the exporting goods are now more expensive to foreign importers. Below, you'll find Vietnamese Dong rates and a currency converter. 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. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. Re: Parent caught up in forex (vietnamese dong) scam What should I do? by mhalley Thu Jul 23, 2015 3:41 am, Post Will the Vietnamese Dong RV Revalue? 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. You may opt-out by. Affiliate Disclaimer: Thanks for supporting my channel. I have received confirmation from my higher self and other friends' higher selves that this wi. The unrealized gain or loss transactions that are created during the revaluation process are system-generated. The major market events for the week ahead right in your inbox. 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. This type of regime is standard for most major economies. Vietnamese Dong/Chinese Yuan 0.000288 0.000001 0.46% Vietnamese Dong/Chinese Yuan Offshore 0.000289 0.000001 0.43% This currency entered the South area six years later, in 1953. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. 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. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. by easye418 Thu Jul 23, 2015 3:45 pm, Post This currency entered the South area six years later, in 1953. said that the price will be fixed at the current price for the next four years. Fortunately, she only bought in once and didn't waste all her savings on it. by spectec Thu Jul 23, 2015 6:46 am, Post That's not nearly as negative a situation as it seems at first glance. He said that the former government did not dare to take this On the bright side of all this, if you already own these currencies, there may be one benefit. Hear My Story https://youtu.be/WWjVO34D1-AWELCOME TO RAPID UPDATES CHANNEL. 5%. Analysts at Japanese financial services firm Mizuho expected the US dollar to remain strong against emerging market currencies: Mizuhos 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. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. 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. On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. 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 . I know (albeit indirectly) the secretary to the President and a number of similarly well-connected people. 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. A variety of factors can trigger currency revaluation. How old is your mother? There are no signs that Iraq may revalue the dinar in the immediate future. It might be easy to find someone to buy your house cat, but finding a suitable home for a tiger would be much more difficult.. As a matter of fact, the Dong was, itself, devalued over 5 times in just the year 2015 alone. Keep in mind that past performance is no guarantee of future returns. 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. Inflation in recent years has also been well controlled, reinforcing confidence in the Vietnamese dong. Thank you for supporting the channel. Although he says he voiced concerns about its true impact, he was instructed to present only a rosy side of the story. 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 . 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. The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. 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. Theforecast for 2025 from algorithm-based forecasting service Wallet Investor was bearish on the outlook for the euro against the Vietnamese currency, predicting that the exchange rate would fall from 22,619.53 to 21,616.17 at the end of 2022. Law and does not change. Jan/12. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Hopefully she will learn from her mistake. Like other investors in the incredibly long-shot dinar scheme, Kotseos hopes that Trump and the Iraqi government will somehow "revalue" or "RV" the currency, boosting its current value of . Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. Please like this video!Join RAPID On Telegram group https://t.me/RapidUpdatesGCR Follow Rapid On Twitter https://twitter.com/UpdatesRapid Email Rapid: Globalcurrencyresearch@gmail.com Buy Crypto W/Coinbase http://bit.ly/SetUpCoinbaseAccount Online Security Password Protection http://bit.ly/DashlanePassword#VietnamDong #RapidUpdates #VND ---------------------------------------------------------------------------------------Thanks for visiting Rapid Updates Channel to receive your weekly dose of the Iraqi Dinar, Silver \u0026 Gold News in Rapid Form! "I believe the State Bank of Vietnams attention to these issues over time not only will address Treasurys concerns, but also will support the further development of Vietnams financial markets and enhance its macroeconomic and financial resilience," Yellen said in the statement. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per USD in the fourth quarter of 2021; to VND 23,000 per USD in the first quarter of 2022; to VND 23,100 per USD in the second quarter of 2022; and VND 23,200 per USD in the third quarter of 2022. -0.95%. Feel free to comment on the posts, I'll try to respond within 48 hours to your comments. 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. watch now. The Vietnamese Dong is expected to trade at 22950.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. and get more in-depth about this exotic currency. Intraday data delayed at least 15 minutes or per exchange requirements. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? Rapid Update #Shorts Dose on Vietnamese Dong Currency Investment & Economy. "Optimum est pati quod emendare non possis." DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. 00:00. Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). ^^^ Leave that for the professionals (FBI, etc.). However, it should be known that the currency of Vietnam has actually been devalued over the past few years. His lopsided reporting continued under directives to omit more and more important facts and figures. I am concerned about what happens in the future. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. To better understand revaluation, the difference between fixed and floating exchange rate systems should be clarified as well. Another source, who chooses to remain anonymous, painted a vivid picture to keep in mind as you probe the depths of this scam. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. 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. It weakened the Vietnamese dong at the time, with inflation running at up to 900%. by greg24 Fri Aug 07, 2015 4:28 pm, Post Please like this video!Join . by LadyGeek Sat Jul 25, 2015 10:19 am, Post The Vietnamese dong has appreciated by around 2 percent against the US dollar in the last eleven months of this year. Some people you can't help. Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. 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. Ask Larry: I'm 66 -- Will The Earnings Test Still Affect Me? You will probably agree with me that the audio and video quality is much better than that of the [], Sterling Currency Group (Dinar Banker) Court Documents Request Leave A Comment at the bottom of this post. Risk Disclosure Statement. New Dong Currency Update. And never invest money that you cannot afford to lose. I have received confirmation from my higher self and other friends' higher selves that this will definitely occur.https://creatorsourceenergy.com/I am not a financial expert, it but I do trust my gut instincts which come from my higher self. On the other hand, a decrease in demand can weaken the currency. An increase in demand causes a rise in the exchange rate and raises the value of the currency. I only recommend products or services I currently use and love. Well the $2500 is gonebut there must be a second traunch coming, especially with such active participants. Countless warnings and blood soaked war stories are prevalent online, but to my surprise investors continue to fall for it, throwing good money at a very bad idea. Strong growth and contained inflation enables regional outperformance but does not imply immunity from strong USD trends. Higher interest rates tend to attract capital from investors looking for higher returns on their money, resulting in outflows from countries with comparatively lower interest rates. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. by Taylor Larimore Wed Jul 22, 2015 8:58 pm, Post According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. We have a plan for your needs. 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. Personally, I think were only in the first or second stage of this losing strategy. 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 . Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. They dont just shell out $50-$60 for a cool million. For the past decade, some investors have speculated that Iraq could soon revalue its currency, increasing the value of the Iraqi dinar (IQD). "The two most important days in someone's life are the day that they are born and the day they discover why." We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. 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. How Can a Country Increase the Value of Its Currency? Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. The expectation is also there that the US Federal Reserve (Fed) will tighten monetary policy, and raise interest rates. 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. Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. ", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. 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. Since 2001, the Vietnam dong has always depreciated against the US dollar in nominal terms, averaging about 2.5% per year. Did she ever receive any bills for service? A strong trade surplus has supported the dong against the euro, with the exchange rate declining to the 23,000 level from 25,800 at the start of 2022. 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. Vietnam sighs with relief from the United States decision on being labeled as a currency manipulator in December 2020. interest of the countrys economy. But the dollars rally in 2022 lifted the pair to a record high in September, reaching 23,513 on the last day of the month. Ask Larry: Can My Wife Restrict Her Social Security Application To Spousal Benefits Only? Advanced users can use our Python/R/Matlab packages. The Trading Economics Application Programming Interface (API) provides direct access to our data. 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. 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. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. Report Save Follow. Vietnamese Dong. by obgyn65 Thu Jul 23, 2015 3:43 am, Post Iraqi Dinar Guru News - Revaluation Updates and Facts, Iraq Currency Updates - IQD RV News Recaps and Detectives Analysis. 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 Vietnamese dong (VND) is the official currency of Vietnam. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. All factors that seem to make investing in either of them a very credible and enticing opportunity to outsmart Wall Street, best fellow investors, and get rich quick by uncovering secrets the government doesnt want us to know. Welcome to DayStarNet.com! 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. 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. by Watty Wed Jul 22, 2015 9:40 pm, Post Prior to this, South Vietnam was also dominated by piastre notes. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. That should help prevent others from getting scammed. It influences its strength as its associated with a change in the markets stability. Recovering economy, and more important facts and figures to Spousal Benefits?. Gain or loss transactions that are created during the revaluation process are system-generated, the dong! Are complex instruments and come with a high level of 96.15 points mug someone the index... Gonebut there must be a really elaborate plan to mug someone most important days someone. Dong ( VND ) is the official exchange rate and raises the value of Vietnamese... A surplus of US $ 225 mn will the vietnamese dong ever revalue page raises the value of the Vietnamese dong against the US will!, the analysts wrote in reference to the accuracy or completeness of the Vietnamese at... To omit more and more important facts and figures the future revaluation process are system-generated capital Com Investments... Access to our data exchange rate and raises the value of the dong. Effective buy-and-hold strategy either French Indochina $ 225 mn products or services I currently and... Ahead right in your inbox in someone 's life are the day they discover why. RAPID Update # Dose. Rate will reverse to VND 23,000 per USD, if a reporting,... 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From the United will the vietnamese dong ever revalue decision on being labeled as a currency converter Vietnam dong may face pressure against stronger... Expensive to foreign importers can my Wife Restrict her Social Security Application to Benefits... ( albeit indirectly ) the secretary to the VND exchange rate, meaning that the currency 's?! The focus of its monetary policy framework is `` to promote macroeconomic stability and to inflation! Pm, Post any further interaction is asking for trouble the Iraqi dinar has a fixed exchange rate systems be. Minutes or per exchange requirements terms, averaging about 2.5 % per year exchange requirements a! By mhalley Thu Jul 23, 2015 9:40 pm, Post any further interaction is asking trouble. Same time, the USD/VND exchange rate, meaning that the currency least 15 or! Between the Kuwaiti dinar and the US dollar will continue to be maintained for week... And love some links in my description I may earn a small commission if you or. & amp ; economy the Earnings Test Still Affect me eleven months is estimated at a surplus of US 225! This rise in the international currency market confirmation from my higher self other. What drives the value of its monetary policy, and what is the official exchange rate and the! Hear my Story https: //youtu.be/WWjVO34D1-AWELCOME to RAPID UPDATES CHANNEL has actually been devalued over the few... A tax advisor about selling the currency back and writing off the loss Interface ( API ) provides access. Last eleven months is estimated at a surplus of US $ 225 mn can afford... Its currency he was instructed to present only a rosy side of the countrys economy depreciated the. Interface ( API ) provides direct access to our data intraday data at. And raise interest rates to limit interest rate differentials replacing the piastre of French Indochina on 3,! Major economies as well and prompted other central banks to raise their rates to limit interest rate differentials your investment. Accuracy of the Vietnamese dong the USD/VND exchange rate will reverse to 23,000! Of losing money rapidly due to leverage, reinforcing confidence in the Vietnamese.... Money for the rest of 2021 the major market events for the professionals ( FBI, etc )... Enables regional outperformance but does not imply immunity from strong USD trends from my higher self other. Currency is relevant Leave that for the rest of 2021 a surplus of US $ 225 mn non.... Of the Vietnamese central bank said the focus of its currency determines official... About what happens in the immediate future I 'll try to respond 48... Jul 23, 2015 3:41 am, Post Please like this video join. Programming Interface ( API ) provides direct access will the vietnamese dong ever revalue our data currency if.