Scary stuff. In fact, the most compelling part of situation is that both the Iraqi and Vietnamese currencies are legitimate and tangible. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. Unless I had law enforcement watching my back. 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. Your mom is lucky. There are currently no items in this Watchlist. The 4% Retirement-Asset Spend-Down Rule Is Rubbish. At the same time, the Vietnam dong may face pressure against a stronger greenback in the international currency market. Both monetary units are often referred to as scam currencies for good reason. 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 Flashes1 Thu Jul 23, 2015 9:06 pm, Post 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. Currency revaluation is usually good for the country that does the revaluation as it increases the value of the currency. PEO vs Staffing Agencies: Which Is Right for Your Business? Cookie Notice (). The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. Please like this video!Join . by easye418 Thu Jul 23, 2015 3:45 pm, Post Tue, Dec 22 2020 2:50 AM EST. by JW-Retired Wed Jul 22, 2015 8:53 pm, Post Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. An increase in demand causes a rise in the exchange rate and raises the value of the currency. by Index Fan Fri Aug 07, 2015 12:13 pm, Post Now, lets dive deeper into what currency revaluation is and what are its main drivers. So I invested around 60 and if it happens this will be worth nearly a million pounds. Foreign investors amount reached US$26.46 bn, up by 0.1% over the same period last year, while realized FDI capital in last eleven months is estimated at US$17.1 bn. Furthermore, they are part of a regulated industry and available for purchase at a few major US Banks. Questions. 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. Source: TradingViewPast performance is not a reliable indicator of future results. Share. If it don't go up, don't buy it. The investors will purchase the local currency and increase its demand and appreciation. This is where greed enters the scam and investors compound their losses. These are short clips under a minute by Youtube. 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 specific future date. 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. Vietnamese dong forecast: How will the VND fare against USD and EUR. Help us push digipreneurship. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. They dont just shell out $50-$60 for a cool million. The ng has been strongly supported by the higher trade surplus and foreign reserves, VNDirect said.. Vit Nam's exports increased by 4.7 per cent year on year in January-October despite the tightening of global trade amid the . 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 . Join us in creating opportunities and sharing ideas to all. -Seneca. Without the need to be a major exporting country, they can afford to increase the value of the. 1. Vietnamese Dong Revaluation; Welcome to DayStarNet.com! by Nicolas Fri Jul 24, 2015 11:21 pm, Post Negosentro is an advocacy blog site for Asians around the world to be well-educated about trends and events in entrepreneurship. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. But bad predictions werent limited to exotic currencies only. The material provided on this website is for information purposes only and should not be understood as an investment advice. What does this even mean? This is an old scam which has been around at least 10 years. The bank foreign currency revaluation feature can be used to revalue one or more bank accounts. What Whitmore drives home, though, that its an apples to oranges comparison. You might try the FBI, but this sounds a lot like the old Nigerian scam of laundering money for the prince. Enter the amount of money to be converted from U.S. Dollar (USD) to Vietnamese dong (VND), it is converted as you type. Will the Vietnamese Dong RV Revalue? watch now. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. 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. by pierremonfrere Wed Jul 22, 2015 10:51 pm, Post 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. SULAIMANI Spokesperson for Iraq's federal government Global Currency Reset - Financial News. At the session on 3 December, the DXY index continued to hold at a high level of 96.15 points. 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. by ponyboy Thu Jul 23, 2015 7:40 am, Post Just wow. 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. The currency that Vietnam uses is called the Vietnamese Dong. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. 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. With the U.S lifting the trade embargo and laxer governance by the Communist Government, economic prosperity has finally begun. 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. 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. This is a BETA experience. The difference between trading assets and CFDs. 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. Something went wrong while loading Watchlist. 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. Will the Vietnamese Dong RV Revalue? by InvestorNewb Wed Jul 22, 2015 9:02 pm, Post 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. I would be worried that the 'additional paperwork' might ask for bank accounting routing and account numbers. This screams scam to all of us, but your Mom, relatives, and the friend all fell for it. Vietnam struggled with a declining economy for a long time. On March 24, Director at Iraqs Central Bank Mahmud Dagher Predictions regarding currency revaluation arent always reliable as many factors contribute to the changes in its value. Accordingly, the balance of trade in goods in last eleven months is estimated at a surplus of US$225 mn. After WWII, North and South Vietnam replaced the French Indochinese piastre with the North Vietnamese dong and the South Vietnamese dong. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. 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. Thanks for posting. Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. Kirchenbauer goes on to say, It's difficult for most people to receive the actual value that these currencies trade at. Currently, the US dollar is standing at a high level. He said that the former government did not dare to take this 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. No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. Philip Wee of DBS Bank discusses how the Vietnamese dong and Chinese yuan have played out as countries worldwide recover from Covid. Did she ever receive any bills for service? by Caduceus Sat Jul 25, 2015 7:19 am, Post Re: Parent caught up in forex (vietnamese dong) scam What should I do? Iraq devalued the dinar significantly as a part of the 2021 It can be seen that despite having many advantages, the pressure on the USD exchange rate is not small, because the trade surplus this year is very low. Strong growth and contained inflation enables regional outperformance but does not imply immunity from strong USD trends. 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. dinars. This term refers to a calculated upward adjustment to a countrys official exchange rate, relative to a baseline. FocusEconomics Consensus Forecast panellists expect the dong to trade at 21,812 per USD at the end of this year. First, I removed the link in the OP's post as it may be malicious. Create a list of the investments you want to track. interest of the countrys economy. 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. Greenback in the exchange rate and raises the value of the Investments you to. 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