Two transactions might be created, one for the accounting currency and one for the reporting currency, if a reporting currency is relevant. But bad predictions werent limited to exotic currencies only. 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. The Vietnamese dong has appreciated by around 2 percent against the US dollar in the last eleven months of this year. by denovo Thu Jul 23, 2015 12:57 am, Post Normally, a stronger US dollar leads to devaluation of currencies of other countries, especially the developing countries. The VND/USD exchange rate was at a low of 0.00004190 on 30 September. He said that the former government did not dare to take this His lopsided reporting continued under directives to omit more and more important facts and figures. Therefore, from a single page, you can revalue banks across all the legal entities that you have access to. On top of all that, try finding someone to sell that currency to in order to recapture your USD. Let us know what do you think about it? At the beginning of 2021, this index was only at 90.535 points. One warning: everything screams to me that this new "paperwork" will require her to pay more money. 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. by obgyn65 Thu Jul 23, 2015 3:43 am, Post The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. 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. -0.00001. For inquiries, please Contact us! 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. Currently, the US dollar is standing at a high level. by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post According to Mark Whitmore, founder and portfolio manager of Whitmore Capital, LP - a hedge fund that invests exclusively in currencies the likelihood of either currency ever trading on a par value to the US dollar is preposterous. He says that dinar advocates often note that Kuwaits currency appreciated hundreds of percent after Iraq left the country following its failed invasion. In fact, the cycle of inflation lasted from 1985 until the mid-nineties. 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. Negosentro is open to advertisers. This is an old scam which has been around at least 10 years. Law and does not change. 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. 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. 100 U.S. Dollar = 2,323,000.0000 Vietnamese dong. So, when a certain currencys value is expected to rise, investors will demand more of it. I have no idea if that would work or would just make things even worse. A million dongs seems to only be $45 so it's not something to worry about. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. I am concerned about what happens in the future. 2. VNDZAR. 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. by AlohaJoe Thu Jul 23, 2015 8:52 am, Post Are you looking for a Vietnamese dong forecast to inform your trading? The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. At the time, this was the result of only superficial research. Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. 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. 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. You can read the original Central Bank of Iraq articles which I had translated here: http://dinarrvnews.net/central-bank-iraq-restructuring-iraqi-currency-deleting-zeros/ http://dinarrvnews.net/translated-central-bank-of-iraq-statements-on-iraqi-currency-deletion-of-zeros/ First article: Will the implementation of the project because [], At the request of a few people who were interested in the private exchanges, I went ahead and had this transcribed. A couple months ago my mom called and told about an "investment opportunity" that she had already put her money in, and didn't want me to miss out (or any of my siblings, some of which had already put their money in too). The unrealized gain or loss transactions that are created during the revaluation process are system-generated. Vietnamese Dong. by spectec Thu Jul 23, 2015 6:46 am, Post 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. The economic downturn affected the entire country so much that 70% of Vietnams citizens lived below the poverty line after the Vietnam war. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. These are short clips under a minute by Youtube. I had someone do a transcript of the call. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. I know (albeit indirectly) the secretary to the President and a number of similarly well-connected people. 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 US$. Report Save Follow. 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. Share. Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. These videos are for entertainment purposes only. It was introduced in 1946, by the North Vietnam Government, and replaced the French Indochinese piastre. This year, Vietnam received a substantial flow of remittances. This was due to the countrys division into north and south after World War II. At one point, the US Dollar Index (DXY) measured the dollar volatility with six other key currencies, namely, EURO, JPY, GBP, CAD, SEK, and the CHF. Negosentro.com respects your privacy. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). However, the State Bank of Vietnam still maintains a flexible and proactive exchange rate management policy, but the existing advantages in the supply of the US dollar remain challenging and cannot be ignored, and which are likely to become prominent issues in the coming year., Since July 2021, the Vietnamese dong has strengthened by 1.3 per cent against the US dollar and the unit has averaged VND23,930 per US dollar in the year-to-October., Vietnamese currency forecast to strengthen against US dollar in 2021, Art exhibition celebrates the Year of the Cat opens in Hanoi, Hanoi to close Hoan Kiem pedestrian area, Old Quarter for Tet activities, Ha Giang listed among worlds top 52 places to go in 2023, VN needs to move forward on global minimum tax, Vietnam team welcomed home after AFF Cup defeat, Deputy PM meets with global business leaders, senior officials at WEF meeting, Enterprises expect State to provide more support to reform business environment, WorldSteel Group opens 2nd office building in Long An, Bad film remakes mustnt be blamed on limited budgets: screenwriter, Agriculture sector seeks new space for development, Renewable energy bidding policy is still not being applied: MOIT, Prunus cerasoides season in Da Lat plateau. To better understand revaluation, the difference between fixed and floating exchange rate systems should be clarified as well. Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. Re: VND Revalued. That's not nearly as negative a situation as it seems at first glance. by mhalley Thu Jul 23, 2015 3:41 am, Post Watch out. 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. The Trading Economics Application Programming Interface (API) provides direct access to our data. Also, you can convert in the reverse direction (from VND to USD). 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. 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. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. All quotes are in local exchange time. The HSBC research team predicts that in 2022, the USD/VND exchange rate will reverse to VND 23,000 per USD. As you can imagine, that would make those holding either currency instant millionaires overnight. The USDVND spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the VND. She was also kind enough to gift me a million dongs that I have no idea what to do with. On 22 September, the SBV also raised interest rates for the first time in 11 years, increasing the refinancing, overnight lending and SBV loan rates by 100 basis points to return them to March 2020 levels. Low currency value = more exports. 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 feature is also a global feature. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. So I thought it was worth a gamble. This browser is no longer supported at MarketWatch. 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. After World war II screams to me that this new `` paperwork '' will her... 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