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rulesforrebels

Did The Vietnam Dong Revalue Today 11/19/2012? MSN Currency Converter Shows 1USD=2VND

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I was just curious if the Vietnam Dong really did revalue today? MSN currency converter today shows 1 USD got you 20,000 VND. Today it shows 1 USD gets you only 2 VND. I checked a few other currency converters and two other converters show the 1:2 rate and a few are showing 1:20,000. Did it really revalue or not?

This video shows it so you can see for yourself...

http://www.youtube.com/watch?v=XRgt21d5QAk
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I wish it were true. If you go Vnd to US it's correct.
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[quote name='skitealwedrop' date='19 November 2012 - 08:31 PM' timestamp='1353378710' post='1066378']
Read and learn. That's my best advice to those that buy paper based on speculation.
[/quote]


Geez, I have a lot of dinar that is "paper based on speculation"
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I'm always surprised when people act like Dong is a stupid investment but htey are holding dinar. At least the Dong is pegged against the dollar, part of the WTO and actually has manufactuing and big companies like HP moving there. What does Iraq have going for it besides oil which it needs a stable gov to profit from.
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Netdania is showing the VND/EUR at 0.375 which would make the Dong about 48 cents. It has been around this value since Netdania altered the software in August.

The real rate is 26622 to the Euro which would be 0.0000375 dollars. Looks to me like it is a question of the decimal point. There are several strange values, the THB is showing at 0.147 which would make it about half a cent. All the strange rates would be correct if the decimal place was moved by either 2, 3 or 4 places.

It is quite possible other sites are picking up from the Netdania data.

Read more: http://dinarvets.com/forums/index.php?/topic/134387-netdania-is-showing-the-vndeur-at-0375-which-would-make-the-dong-about-48-cents/#ixzz2CjMsO1zm
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[quote name='skitealwedrop' date='19 November 2012 - 08:31 PM' timestamp='1353378710' post='1066378']
Read and learn. That's my best advice to those that buy paper based on speculation.
[/quote]

1 million dong for $90!! I spend more than that on the golf course..... Why not buy a little and let it sit??? Thanks for your advise but I think I will ignore it!
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I own several million VND and proud of it. Adam Montana will be sending VIP members a message when the VND RVs. So, maybe you should become a VIP member then you can sit back and relax and just wait for a message from Adam. I know I am.[img]http://dinarvets.com/forums/public/style_emoticons/default/biggrin.gif[/img]

Chartman17
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[quote name='Redwizard' date='19 November 2012 - 08:46 PM' timestamp='1353379566' post='1066387']
Geez, I have a lot of dinar that is "paper based on speculation"
[/quote]

Red,

You mean you are a monopoly gambler ? Lol

Good to see ya :). Did you fall into fox hole ? Lol
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[quote name='Nadita' date='19 November 2012 - 11:48 PM' timestamp='1353390500' post='1066468']
Red,

You mean you are a monopoly gambler ? Lol

Good to see ya [img]http://dinarvets.com/forums/public/style_emoticons/default/smile.gif[/img]. Did you fall into fox hole ? Lol
[/quote]

Noway, just took a break. Was out shopping for new toys since this is suppose to happen by the then of the year [img]http://dinarvets.com/forums/public/style_emoticons/default/biggrin.gif[/img]
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[quote name='stonewall67' date='19 November 2012 - 10:11 PM' timestamp='1353384662' post='1066419']
1 million dong for $90!! I spend more than that on the golf course..... Why not buy a little and let it sit??? Thanks for your advise but I think I will ignore it!
[/quote]

If you're paying $90 per million you are overpaying going rate seems to be between $75 and $80 per million. I have seen some sites selling for as high as $129 though.

BuyIraqiDinarHere.Com $75 Per Million

TreasuryVault.Com $79 Per Million

IBuyDInar.Com $80 Per Million

DealOrBuyDinar.Com $80 Per Million


Yeah I figured it was too good to be true when I saw it. I think Sandy is probably right other converter widgets using numbers or forumulas from the same site. Edited by rulesforrebels
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VND is worthless paper. Vietnam has no opportunity for growth, other than cheap labor and the export of toxic fish products. That's not enough to warrant a substantial change in the value of VDN. Vietnam doesn't have the economic potential that Iraq does, in my opinion.
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[quote name='skitealwedrop' date='20 November 2012 - 06:10 PM' timestamp='1353456634' post='1066896']
VND is worthless paper. Vietnam has no opportunity for growth, other than cheap labor and the export of toxic fish products. That's not enough to warrant a substantial change in the value of VDN. Vietnam doesn't have the economic potential that Iraq does, in my opinion.
[/quote]

If the Dong is worthless paper than the Dinar is even less valuable paper. I know the exchange rate of the Dinar is stronger, however the Dinar isn't really pegged against the dollar or any other currency for that matter. The CBI can essentially makeup whatever rate they want the rate they have now isn't even really a legitimate rate. There's a reason the Dinar isn't a tradable currency, most banks don't buy or sell it, etc. Vietnam is pegged against other World Currencies, they are a member of the WTO, and the country is more stable than Iraq.As labor costs continue to rise in China more and more comanies and factories will continue moving to Vietnam as well.

The Dong definately isn't in good shape, most people in Vietnam are trying to get rid of their Dong for gold, silver, or US Dollars. That said Iraq also isn't in great shape, but has been increasing in value as of late. Both currencies are high risk speculative investments. I just think it's silly when people are like people who buy dong are stupid and act like buying dinar is a sure thing or not risky.
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[quote name='stonewall67' date='19 November 2012 - 11:11 PM' timestamp='1353384662' post='1066419']
1 million dong for $90!! I spend more than that on the golf course..... Why not buy a little and let it sit??? Thanks for your advise but I think I will ignore it!
[/quote]

Actually you should be able to get 1ML. Dong for about 65.00 from your bank.

[quote name='skitealwedrop' date='20 November 2012 - 07:10 PM' timestamp='1353456634' post='1066896']
VND is worthless paper. Vietnam has no opportunity for growth, other than cheap labor and the export of toxic fish products. That's not enough to warrant a substantial change in the value of VDN. Vietnam doesn't have the economic potential that Iraq does, in my opinion.
[/quote]

Funny, I've been hearing that their economy is doing well and I actually read an HSBC article that said they were expected to raise the value of the Dong during the last quarter of this year.
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[quote name='rulesforrebels' date='20 November 2012 - 07:44 PM' timestamp='1353462253' post='1066949']
If the Dong is worthless paper than the Dinar is even less valuable paper. I know the exchange rate of the Dinar is stronger, however the Dinar isn't really pegged against the dollar or any other currency for that matter. The CBI can essentially makeup whatever rate they want the rate they have now isn't even really a legitimate rate. There's a reason the Dinar isn't a tradable currency, most banks don't buy or sell it, etc. Vietnam is pegged against other World Currencies, they are a member of the WTO, and the country is more stable than Iraq.As labor costs continue to rise in China more and more comanies and factories will continue moving to Vietnam as well.

The Dong definately isn't in good shape, most people in Vietnam are trying to get rid of their Dong for gold, silver, or US Dollars. That said Iraq also isn't in great shape, but has been increasing in value as of late. Both currencies are high risk speculative investments. I just think it's silly when people are like people who buy dong are stupid and act like buying dinar is a sure thing or not risky.
[/quote]

You have a great argument. Good post. IQD isn't pegged. I brought that point up with Adam in a prior post many months ago. He claims that IQD is pegged, I disagree with him. In the interim we should all be careful when purchasing paper.
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[quote name='Tripphood' date='20 November 2012 - 08:36 PM' timestamp='1353465388' post='1066973']
Actually you should be able to get 1ML. Dong for about 65.00 from your bank.

Most banks aren't selling the Dong, I've heard Wells Fargo is in many areas of the country but near me they aren't selling it.


Funny, I've been hearing that their economy is doing well and I actually read an HSBC article that said they were expected to raise the value of the Dong during the last quarter of this year.
[/quote]

I agree, HP is moving a lot of their operations there. As labor costs continue to rise in China and India Vietnam is going to be the next big manufacturuing place.

[quote name='skitealwedrop' date='20 November 2012 - 08:38 PM' timestamp='1353465526' post='1066975']
You have a great argument. Good post. IQD isn't pegged. I brought that point up with Adam in a prior post many months ago. He claims that IQD is pegged, I disagree with him. In the interim we should all be careful when purchasing paper.
[/quote]

I'm no expert so I'm not claiming I'm 100% right on this but it's my understanding the Iraqi Dinars rate is determined by the CBI, not by World Markets like other currencies. It's my understanding that the currency isn't pegged because it isn't trading on forex. Some dealer websites actually have something in their TOS saying because Iraqi Dinar isn't a peggged currency and a tradable currency there's a risk of illiquidity. I don't claim to be an expert but it's always been my understanding the Dinar isn't a pegged currency
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What makes you guys say the dinar isnt pegged? It is pegged to the usd at 1166 right now. If a currency is freely traded on the forex and goes up and down then it is not pegged but allowed to float. The new dinar has been pegged to the usd since its inception almost ten years ago although the rate has been moved a couple times. If you find the announcements from the cbi and imf from ten years ago you will see that they say the dinar shall be pegged to the usd at such and such a rate.
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[quote name='rulesforrebels' date='21 November 2012 - 01:02 PM' timestamp='1353524550' post='1067280']
I agree, HP is moving a lot of their operations there. As labor costs continue to rise in China and India Vietnam is going to be the next big manufacturuing place.



I'm no expert so I'm not claiming I'm 100% right on this but it's my understanding the Iraqi Dinars rate is determined by the CBI, not by World Markets like other currencies. It's my understanding that the currency isn't pegged because it isn't trading on forex. Some dealer websites actually have something in their TOS saying because Iraqi Dinar isn't a peggged currency and a tradable currency there's a risk of illiquidity. I don't claim to be an expert but it's always been my understanding the Dinar isn't a pegged currency
[/quote]

You are correct. The CBI has control of the value of IQD and there is no peg or float, today. I'm no expert either though I do understand the trading of foreign currency.
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