U.S. Dollar to Vietnam Đồng Exchange Rate

I don't quite understand. It's practically a straight line.
Compare CHF to VND.
There you can talk about profits and losses.

My curreny' Canuck is rising from last year.
Nice to see.
Strengthening against the greenback, ( a tiny bit)

AkaMaverick wrote:

I don't quite understand. It's practically a straight line.
Compare CHF to VND.
There you can talk about profits and losses.

I would have thought you--a consistent critic of American Exceptionalism--would have understood the slightly self-effacing nature of my post.

As we see in an extended ("maximum") chart...


...the USD has been inexorably strong against the VNĐ, year over year, since the genesis of the Vietnamese currency.

American expats especially have certainly gotten used to seeing exchange rates continually rise in their favor.

So I think even a slight loss for the USD over the course of an entire year is significant, and surely not what many financial "wizards" were forecasting a year ago.

I've read more than a couple of posts in this forum warning people not to trust the VNĐ to maintain its value vs the USD.

As to my Deutschland reference, I lived in the former West Germany when the DM slid from a fairly friendly rate of three DM to USD down to (as I recall) about 1.65 DM per dollar.

That was a terrible jolt to me financially.

So I'm just a tiny bit concerned that the days of living like a fat cat here might be numbered.

OceanBeach92107 wrote:

News you didn't expect to hear:

From the other (Vietnamese) perspective, an article on the strength of the đồng in 2019:

vietnamnews. vn/economy/business-beat/570224/several-positive-factors-keep-dong-steady-against-greenback

The second half of the article covers rumors regarding the limiting of foreign ownership in digital wallet companies (such as Moca).

Ahhhhhhhhh them were the days & 14 or 15% interest on VND term deposits too as I remember. Oh well it is what it is & still better than getting by as a pensioner in the West.

There we go again! 😎👍

I transferred in money to pay for the farm last week.  Transferwise gave me a pretty good rate.

The rate for your transfer was 1 USD = 23,605.0 VND.

OceanBeach92107 wrote:

...the USD has been inexorably strong against the VNĐ, year over year, since the genesis of the Vietnamese currency.

There were times when the inflation rate in Vietnam was around 10%, so the USD vs VND advantage is not as great as the USD/VND chart would suggest...

atomheart wrote:

OceanBeach92107 wrote:

...the USD has been inexorably strong against the VNĐ, year over year, since the genesis of the Vietnamese currency.

There were times when the inflation rate in Vietnam was around 10%, so the USD vs VND advantage is not as great as the USD/VND chart would suggest...

Its a mind thing. Still makes me feel good😜

goodolboy wrote:

atomheart wrote:

OceanBeach92107 wrote:

...the USD has been inexorably strong against the VNĐ, year over year, since the genesis of the Vietnamese currency.

There were times when the inflation rate in Vietnam was around 10%, so the USD vs VND advantage is not as great as the USD/VND chart would suggest...

Its a mind thing. Still makes me feel good😜

Every mickle makes a muckle, my grandad used to say!

I've been here 3 years and 8 months.  The dollar got slowly better in the first year or so I was here, but in recent months it's been going up and down within a small range.  Not at all significant to me -- when I lived in Norway the dollar was hovering in the 6-7 NOK range.  Now it's around 10.5 NOK.  If I lived there now I could actually afford to go out to eat.  Of course, the restaurants there are closed now.

OceanBeach92107 wrote:

News you didn't expect to hear:

If you had bet on the đồng one year ago, you would be ahead now...

[img align=C]https://gordythomas.files.wordpress.com/2020/01/screenshot_20200102-204956_google-01.jpeg[/url]

Some experts believe the U.S. Dollar will continue to weaken:

bloomberg. com/amp/news/articles/2020-01-02/dollar-s-losses-may-be-just-getting-started

I'm having a flashback to the 70's in Germany...

Just back from the cash money changer & got a right surprise, about a month ago the exchange on USD I got was 23,150, today 23,350 looks like the USD is getting back on top again all be it not against hard currency like JPY, Euro & GBP.

goodolboy wrote:

OceanBeach92107 wrote:

News you didn't expect to hear:

If you had bet on the đồng one year ago, you would be ahead now...

Some experts believe the U.S. Dollar will continue to weaken:

I'm having a flashback to the 70's in Germany...

Just back from the cash money changer & got a right surprise, about a month ago the exchange on USD I got was 23,150, today 23,350 looks like the USD is getting back on top again all be it not against hard currency like JPY, Euro & GBP.

What magic money machine are you using?

I also withdrew VNĐ within the last 48 hours, and as you can see by the current exchange rate (over 1 month and over 5 days) the dollar continues to slide, while the government states it is not manipulating currency

OceanBeach92107 wrote:

goodolboy wrote:

OceanBeach92107 wrote:

News you didn't expect to hear:

If you had bet on the đồng one year ago, you would be ahead now...

Some experts believe the U.S. Dollar will continue to weaken:

I'm having a flashback to the 70's in Germany...

Just back from the cash money changer & got a right surprise, about a month ago the exchange on USD I got was 23,150, today 23,350 looks like the USD is getting back on top again all be it not against hard currency like JPY, Euro & GBP.

What magic money machine are you using?

I also withdrew VNĐ within the last 48 hours, and as you can see by the current exchange rate (over 1 month and over 5 days) the dollar continues to slide, while the government states it is not manipulating currency

[img align=C]https://gordythomas.files.wordpress.com/2021/01/screenshot_20210102-184633_google.jpg[/url]

[img align=C]https://gordythomas.files.wordpress.com/2021/01/screenshot_20210102-184902_google.jpg[/url]

I think he went to a money changer (currency exchange shop) its always higher than the quotes on the net.

OceanBeach92107 wrote:

goodolboy wrote:

OceanBeach92107 wrote:

News you didn't expect to hear:

If you had bet on the đồng one year ago, you would be ahead now...

Some experts believe the U.S. Dollar will continue to weaken:

I'm having a flashback to the 70's in Germany...

Just back from the cash money changer & got a right surprise, about a month ago the exchange on USD I got was 23,150, today 23,350 looks like the USD is getting back on top again all be it not against hard currency like JPY, Euro & GBP.

What magic money machine are you using?

I also withdrew VNĐ within the last 48 hours, and as you can see by the current exchange rate (over 1 month and over 5 days) the dollar continues to slide, while the government states it is not manipulating currency

[img align=C]https://gordythomas.files.wordpress.com/2021/01/screenshot_20210102-184633_google.jpg[/url]

[img align=C]https://gordythomas.files.wordpress.com/2021/01/screenshot_20210102-184902_google.jpg[/url]

So who said I went to a cash machine???

Since I'm getting ready to change VND to $15,000 USD (the max the three of us can take without declaring) it's a nicely timed drop.  It doesn't end up being much but I always historically seem to be on the wrong side of lucky on things like this.

Of course this is being offset with my wife wanting to buy some new gold jewelry before we go.  I have a stong feeling that will exceed any amount of savings *just* a little bit.   

Gold is plenty high right now.

SteinNebraska wrote:

Since I'm getting ready to change VND to $15,000 USD (the max the three of us can take without declaring) it's a nicely timed drop.  It doesn't end up being much but I always historically seem to be on the wrong side of lucky on things like this.

Of course this is being offset with my wife wanting to buy some new gold jewelry before we go.  I have a stong feeling that will exceed any amount of savings *just* a little bit.   

Gold is plenty high right now.

Just remember this was not at the bank!!

goodolboy wrote:

SteinNebraska wrote:

Since I'm getting ready to change VND to $15,000 USD (the max the three of us can take without declaring) it's a nicely timed drop.  It doesn't end up being much but I always historically seem to be on the wrong side of lucky on things like this.

Of course this is being offset with my wife wanting to buy some new gold jewelry before we go.  I have a stong feeling that will exceed any amount of savings *just* a little bit.   

Gold is plenty high right now.

Just remember this was not at the bank!!

EXIMBANK rate to the USD is 23020VND right now.

Rick

colinoscapee wrote:

OceanBeach92107 wrote:

goodolboy wrote:

Just back from the cash money changer & got a right surprise, about a month ago the exchange on USD I got was 23,150, today 23,350 looks like the USD is getting back on top again all be it not against hard currency like JPY, Euro & GBP.

What magic money machine are you using?

I also withdrew VNĐ within the last 48 hours, and as you can see by the current exchange rate (over 1 month and over 5 days) the dollar continues to slide...

I think he went to a money changer (currency exchange shop) its always higher than the quotes on the net.

Yeah, when I first answered him, I hadn't read closely what he said.

I'd never seen the spread be quite that big before.

Of course there is no official two currency system here, only the đồng is "officially" legal.

I like how this article in Al Jazeera about Cuba's pending devaluation explains the two different ways a country can we have a 2-currency system, both legally as well as illegally on the black market, and how the illegal 2-currency system can lead to bigger differences in rates:

what-will-cubas-new-single-currency-mean-for-the-island

SteinNebraska wrote:

Since I'm getting ready to change VND to $15,000 USD (the max the three of us can take without declaring) it's a nicely timed drop.  It doesn't end up being much but I always historically seem to be on the wrong side of lucky on things like this.

Of course this is being offset with my wife wanting to buy some new gold jewelry before we go.  I have a stong feeling that will exceed any amount of savings *just* a little bit.   

Gold is plenty high right now.

You get yourself some neck bling, too! 
Googling sez you don't have to declare under 300 grams = 10+ ounces gold per person.
US customs won't object to your basketball player chains, just declare your stash of gold coins and bars, and there is no duty.

gobot wrote:

You get yourself some neck bling, too! 
Googling sez you don't have to declare under 300 grams = 10+ ounces gold per person.
US customs won't object to your basketball player chains, just declare your stash of gold coins and bars, and there is no duty.

https://pixen.netlify.app/pix/suitcase-handcuffed.jpg

Glad this topic came up just because it made me google.  I was always under the impression that the limit was $5,000 per person.  That's for currency coming INTO Vietnam.  It's a $10,000 aggregate limit for person or persons travelling together going to US.  So while the three of us will be limited to $10,000 when I return for business trips I'll still have the $10,000 limit. 

From the CBP website:



There is no limit on the amount of money that can be taken out of or brought into the United States. However, if a person or persons traveling together and filing a joint declaration (CBP Form 6059-B) have more than $10,000 in currency or negotiable monetary instruments, they must fill out a "Report of International Transportation of Currency and Monetary Instruments" FinCEN 105 (former CF 4790).

Please be aware, if persons/family members traveling together have more than $10,000, they cannot divide the currency between each other to avoid declaring the currency.

For example, if one person is carrying $5,000 and the other has $6,000, they have a total of $11, 000 in their possession and must report it on a FinCEN 105 form. If a person or family fails to declare their monetary instruments in amounts more than $10,000 their monetary instrument(s) may be subject to forfeiture and could result in civil and or criminal penalties.

The FinCEN 105 form can be obtained prior to traveling or when going through U.S. Customs and Border Protection (CBP). If assistance is required, a CBP officer can help with filling out the form.

Budman1 wrote:

goodolboy wrote:

SteinNebraska wrote:

Since I'm getting ready to change VND to $15,000 USD (the max the three of us can take without declaring) it's a nicely timed drop.  It doesn't end up being much but I always historically seem to be on the wrong side of lucky on things like this.

Of course this is being offset with my wife wanting to buy some new gold jewelry before we go.  I have a stong feeling that will exceed any amount of savings *just* a little bit.   

Gold is plenty high right now.

Just remember this was not at the bank!!

EXIMBANK rate to the USD is 23020VND right now.

Rick

Sacombank today........................23,045.
Standard Chartered today.........22,995.........negotiated up to 23,020 for a wire transfer.
Legged it up to the money shop again with a "fist full of dollars" this time!! .... 23,350 same as the other day.

...and just like that, an official rate jump back above ₫23,000 VNĐ...

- @OceanBeach92107

...and just like that, an official rate jump back above ₫23,000 VNĐ...

- @OceanBeach92107

yipee I am off up the ****** shop bet its at least 23,500 there. Good ol USD rules again world wide. I have been changing USD to GBP over the last few months to buy property & it gets better & better every day.

- @goodolboy

At this rate, goodolboy will be bragging about getting ₫24,000+ VNĐ soon...

At this rate, goodolboy will be bragging about getting ₫24,000+ VNĐ soon...

-@OceanBeach92107

Great minds must think alike cos funny you should say that OB, just coincidence but I got 24,100 yesterday at the place I use

At this rate, goodolboy will be bragging about getting ₫24,000+ VNĐ soon...

-@OceanBeach92107
Great minds must think alike cos funny you should say that OB, just coincidence but I got 24,100 yesterday at the place I use
-@goodolboy

But its actually a bit of a double edge sword for me as this month I am moving the last of my investment & term deposit money out of Vietnam & will be getting the bank rate VND to USD for the transfers ah well you win some & you lose some as they say!

@goodolboy My Lady gets 24,500 at the Gold Shops for $100 bills - they need $$$$$

@goodolboy My Lady gets 24,500 at the Gold Shops for $100 bills - they need $$$$$
-@tunnelrat69

OFFS now I am depressed.....ripped off again, time for a wee dram!! that will make me feel better.

@OceanBeach92107

The VN dong has been pegged to the dong for decades by the SBV with a band of 1-2 % to the USD. Not sure what all the fretting is about. A non-issue for Americans. Of course, other countries are no so fortunate. Personally I never even watch the minor fluctuations.

The VN dong has been pegged to the dong for decades by the SBV with a band of 1-2 % to the USD.
-@Diazo

"The VN dong has been pegged to the dong..."    What does that even mean or is it a typo?  Did you mean that the VND has been historically pegged to the USD?  I believe the recent price changes are more a reflection of the recent world-wide strength of the dollar rather than any particular weakness of the dong.   

@OceanBeach92107
...Not sure what all the fretting is about. A non-issue for Americans.-@Diazo

Who's "fretting"?

More like celebrating 🥳

Maybe if an American citizen is independently wealthy it's not an issue for them.

For someone such as myself (with a Vietnamese wife) it doesn't take much upward movement favoring my monthly dollar income to have us both imagining some bonus đồng over the next year.

It makes a big difference when helping to support her family on their Quảng Ngãi farm

For those into technical analysis, resistance was futile...

@OceanBeach92107
...Not sure what all the fretting is about. A non-issue for Americans.-@Diazo

Who's "fretting"?

More like celebrating 🥳

Maybe if an American citizen is independently wealthy it's not an issue for them.

For someone such as myself (with a Vietnamese wife) it doesn't take much upward movement favoring my monthly dollar income to have us both imagining some bonus đồng over the next year.

It makes a big difference when helping to support her family on their Quảng Ngãi farm
-@OceanBeach92107

OB,

Same for us here. the exchange rate has been a double edge sword. My wife is very apt at hitting the exchange rate well. She follows the trends, fluctuations. G-d bless her.

Well, ...l? ... what was that song?  ah, she knows when to hold em, knows when to fold em, she never counts her money when she's sittin' at the table, til the dealin's done. Ah, Kenny Rogers:

https://www.youtube.com/results?search_ … nny+rogers

MAc

PS: Ck out this, she follows the economy here in VN and USA closely; 

https://www.focus-economics.com/country … hange-rate

However, following USD rates, careful what FED is doing in USA;

"The only thing for sure, is that everything is subject to change."

~ circa today ~ ~ ~ Kim Huong. 

Well, just you wait. USD is going to collapse. I know people have been saying that for over 20 years, but I'm confident it will happen...

Well, just you wait. USD is going to collapse. I know people have been saying that for over 20 years, but I'm confident it will happen...
-@ChoculaD

I believe you're a little little soon to "denarius" it.

In the meantime, if you've some extra USD floating around, you could send them directly to me.

I promise to treat them well, and to put them to good use

@Aidan in HCMC The USD has been "collapsing" for 20 years. It'll fluctuate but it'll not crash anytime soon. The fed raises interest rates access the dollar goes up, gold goes down and crypto dies (for multiple reasons). It continues to be a safe haven for investors. No one's trying to buy the Yuan, Rouble or Iranian money... Love it or hate it the dollar is here to stay. The dong could chop off a few zeros.. carrying a couple thousand dollars worth of dong to the bank is a hassle so I sell it through Binance where I'm getting 24,500 / 1.