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One warning: everything screams to me that this new "paperwork" will require her to pay more money. Predictions regarding the Iraqi dinar are a good example. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. The value of the Vietnamese dong against the US dollar gradually declined from the 2014 devaluation, when it was trading around 21,000, to around 23,600 in March 2020as investors sought the safe haven of the USD at the start of the Covid-19 pandemic. 1. The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. If your siblings also went along with this, it's time for a family chat- as soon as possible - about scams and such. What is a realistic Vietnamese dong forecast for the future? 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. 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. My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest). And then actually report them. The Australian dollar has also weakened, now buying 15,500 dong from 16,400 at the start of 2022. by ShiftF5 Wed Jul 22, 2015 8:49 pm, Post The major market events for the week ahead right in your inbox. What does this even mean? by Grogs Thu Jul 23, 2015 7:50 pm, Post by nisiprius Wed Jul 22, 2015 8:24 pm, Post Low currency value = more exports. I want to help emerging economies anyway I can. The currency code for Dongs is VND, and the currency symbol is . 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. 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. Standard users can export data in a easy to use web interface or using an excel add-in. "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. That's not nearly as negative a situation as it seems at first glance. Posts: 3961. Thank you for supporting the channel. These are short clips under a minute by Youtube. Privacy Notice | Now, my personal opinions about Dave Schmidt dont matter, Im glad he gave me his number and allowed me to talk to him privately. -John Maxwell. 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. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Click on the button below to get started. And this will crossover to any strategy you ever learn! This is where greed enters the scam and investors compound their losses. How do analysts expect the USD/VND exchange rate to perform in the context of ongoing foreign exchange market volatility? Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. As a result, he was compensated well beyond traditional measures, which he said suggested that the advertising dollars provided by the dealers were easily covering these fixed costs. 3 Reasons Why Aluminum is a Better Fencing Material than Wood. For example: "1000000 vnd to usd" (or whatever currency you use), and you'll get the result. What affects the Vietnamese dongs value? by corn18 Sat Jul 25, 2015 6:58 am, Post Our editors reserve the right to edit, update or do any action on such content as deemed necessary and appropriate at any given time. If you're curious about what Vietnamese money looks like, check out the video. 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. The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. Well I did email the AGs office and the local news investigation team, who obviously unanimously agreed that driving out of state was a terrible idea, and forwarded their responses to my mom. One US bank Kirchenbauer called was offering one million Vietnamese dong for $56.90, which works out to 17,574 VND per dollar. PEO vs Staffing Agencies: Which Is Right for Your Business? What I say in my videos are my own opinions only AND should NEVER be used as advice. by TimeRunner Thu Jul 23, 2015 8:04 am, Post 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. The Vietnamese Dong was first introduced in 1946, replacing the piastre of French Indochina. Reply. Yes, their exports might be increasing, however, their debt (internal/external) is also increasing at a faster pace than their exports. Investors can not only hold them, but also show their spouse, friends and even fold them up and put them in their wallets. That would be a really elaborate plan to mug someone. If banks in the US choose to trade them, they make the spreads very wide so that they can make a large enough profit to justify the potential holding period., Scott Smith, Senior Market Analyst for Cambridge Global Payments highlighted another reality facing investors in these currencies. Ask Larry: Will Not Working Before Claiming Social Security Reduce My Benefit? Did she ever receive any bills for service? 1 Dong now equaled 10 Dongs of the old currency. The Vietnamese dong (VND) is the official currency of Vietnam. 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. It will sell 21,420 dong per U.S. dollar (not including ordinary fees). -Seneca. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. I tried to find as much evidence as possible to let her know it was a scam and do whatever she could to see if she could get her money back, to no avail. And never invest money that you cannot afford to lose. The countrys economic recovery, the strengthening of the Chinese yuan, and the U.S. expansionary monetary policy are predicted to keep the exchange rates of this exotic currency steady. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. On the bright side of all this, if you already own these currencies, there may be one benefit. While the sheer terror of realizing you may have lost a boatload of money after buying a foreign currency is bad enough, the source regretfully informed me that, Some dinar dealers are even more unscrupulous than the advertisers. Have Watchlists? 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. Especially as CNY and KRW rumble pressures for now, the analysts wrote in reference to the VND. Scary stuff. This idea has given birth to many "investment" scams, promising 1,000-fold returns to investors who buy dinars at a steep markup. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Today, Vietnam is a part of the globalized world market, and its export-oriented manufacturing and domestic demand are the main drivers of growth. The Vietnamese dong, just like any other currency, keeps fluctuating based on different elements which cant be estimated precisely every time. I live in Vietnam. The two versionswere unified when the country became one in 1978. The Vietnamese dong has appreciated by around 2 percent against the US dollar in the last eleven months of this year. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. by letsgobobby Thu Jul 23, 2015 1:01 am, Post |. Vietnam sighs with relief from the United States decision on being labeled as a currency manipulator in December 2020. by mhalley Thu Jul 23, 2015 3:41 am, Post 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. The Brits are certainly smiling in Vietnam if you factor in the rise of the Pound against the Dollar as well. Both monetary units are often referred to as scam currencies for good reason. This is an old scam which has been around at least 10 years. We offer competitive exchange rates and 0% commission on foreign currency. Thanks for posting. A street money exchange (RAMZI HAIDAR/AFP/Getty Images). API users can feed a custom application. 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. 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. 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 . Personally, I think were only in the first or second stage of this losing strategy. 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Intraday Data provided by FACTSET and subject to terms of use. by Fallible Wed Jul 22, 2015 10:08 pm, Post Iraq devalued the dinar significantly as a part of the 2021 Or to quote Larsen E. Whipsnade (WC Fields), when he passed along advice given by his grandfather (just before they sprung the trap): I had a cousin who was in to this only it was the Iraqi dinar. Cookie Notice (). I just saw the whole thing about going to do anther state, now it's a safety issue too. Tue, Dec 22 2020 2:50 AM EST. Please note, there are more [], Dinar Inc Iraq Currency Dealer From Florida, Dinar Vets Hacked Website Warning Adam Montana. by Flashes1 Thu Jul 23, 2015 9:06 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. - Will Rogers. At this point, their exports will decrease due to more expensive labor. by JW-Retired Wed Jul 22, 2015 8:53 pm, Post Mum will be able to exchange her Dong for USD at any currency exchanger. What Whitmore drives home, though, that its an apples to oranges comparison. When you run the revaluation process, the balance in each bank account that is posted in a foreign currency will be revalued. DON'T FORGET TO SUBSCRIBE http://bit.ly/RapidUpdatesYoutube-----------------------------------------------------------------------------------------------IMPORTANT DISCLAIMER I am NOT a Financial Advisor. Copyright 2023 MarketWatch, Inc. All rights reserved. On top of all that, try finding someone to sell that currency to in order to recapture your USD. Whitmore suggests, Neither currency demonstrates the kind of fundamental economic indicators, particularly prudent central bankers limiting money supply that would be the hallmarks of a currency likely to appreciate.. Make sure to subscribe to the Newsletter if you havent already done so. A friend had told her about an imminent revaluation of the Vietnamese dong and she was going to be a multimillionaire, without any downside. However, message me below in the comments and I will post some of them. And never invest money you cannot afford to lose. 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. 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. Past performance is no guarantee of future results. 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. Law and does not change. It can be seen that despite having many advantages, the pressure on the US$ exchange rate is not small, because the trade surplus this year is very low. The former keeps the currencys value within a narrow scope, and therefore provides more certainty to both exporters and importers. Currently, the US dollar is standing at a high level. That should help prevent others from getting scammed. 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. ^^^ Leave that for the professionals (FBI, etc.). This was all done via mail, too.with a fake money order that looked like any valid Money Order that I've ever seen. Dave Schmidt Transcript of Live Call 11-30-2016, Benefits of Dropping Zeros From The Iraqi Dinar, Central Bank of Iraq Delete Zeros Off IQD Early 2017 Arabic News, Transcript Private Currency Exchanges Dave Schmidt LiveStream October 26 2016, Nick And TNTBS on Wingit Call Transcript and Video October 28 2016, Sterling Currency Group Dinar Banker Court Documents Update. I share my thoughts and ideas I pick up from everywhere I go. I have no idea if that would work or would just make things even worse. The Vietnamese Dong is the currency of Viet Nam. This browser is no longer supported at MarketWatch. All contributions, guest posts, and sponsored posts will be deemed owned by the publication and its owner/s. Each accounting entry will be posted to the unrealized gain or loss and the main account that is being revalued. The currency that Vietnam uses is called the Vietnamese Dong. Whitmore is relentless with facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as "Swiss" dinars) with a new currency and offered to convert 150 new dinars to one old dinar. by Watty Wed Jul 22, 2015 9:40 pm, Post I am concerned about what happens in the future. FocusEconomics Consensus Forecast panellists expect the dong to trade at 21,812 per USD at the end of this year. by profnot Thu Jul 23, 2015 3:36 pm, Post 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. Your worry is how to stop her sending more and more money to these criminals. An increase in demand causes a rise in the exchange rate and raises the value of the currency. Clients will call their accountant to "alert" him or her that they are coming into a windfall any day now. 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 . I contribute to many blogs. Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. The Iraqi dinar has a fixed exchange rate, meaning that the central bank determines its official value for cross-currency transactions. Subscriber Agreement & Terms of Use | 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%. Conversely, domestic exporters will see a decline in exporting business as the exporting goods are now more expensive to foreign importers. With an increase in foreign capital, the value of the domestic currency rises. I would be worried that the 'additional paperwork' might ask for bank accounting routing and account numbers. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. 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. Increases in interest rates lead to currency appreciation. 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. VND - Vietnamese Dong. Discussions about the Iraqi dinar scam are constantly surfacing on accounting forums. 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. When the Fed helps in appreciating the dollar, it causes a downward pressure on other currencies, including the Vietnam dong. Something went wrong while loading Watchlist. The USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. Welcome to DayStarNet.com! by pierremonfrere Wed Jul 22, 2015 8:15 pm, Post Seems like the best way out of this is to head back to the bank where the $2500 in Vietnamese Dong was exchanged and ask if they'll convert back to USD. According to expert forecasts, the USD/VND rate will increase slightly to VND 22,900 per US$ 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. These videos are for entertainment purposes only. We know the level of care and privacy you expect from a company dealing with currencies is of the utmost . The dong (Vietnamese: ng, Ch Nm: ) (/ d /; Vietnamese: [wm]; sign: or informally in Vietnamese; code: VND) has been the currency of Vietnam since 3 May 1978. by AlohaJoe Thu Jul 23, 2015 8:52 am, Post by dolphinsaremammals Fri Jul 24, 2015 4:55 pm, Post 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. You should do your own research to develop a view of the currency as an investment. . However, he found the exchange rate much higher at Vietnam's . Accordingly, the strong trend of the Vietnamese dong against the US dollar will continue to be maintained for the rest of 2021. As you can imagine, that would make those holding either currency instant millionaires overnight. This is also the lowest exchange rate in the last five years. Relative economic strength can be used to forecast the direction of exchange rates. 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? by easye418 Thu Jul 23, 2015 3:45 pm, Post If you rely on the information on this page then you do so entirely on your own risk. 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. A brief history of the dong. This currency entered the South area six years later, in 1953. Let us know what do you think about it? 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. Political stability is an important factor that can impact currency fluctuations.
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