Vietnam is gaining prominence on the global scale, due to which it is becoming not only an attractive tourist destination but also a living choice for expats. There are roughly around 90,000 foreign nationals currently living there. Living in any foreign country can be daunting, as one does not know what to expect, but it is also an enriching experience to taste another culture and meet new people.
Vietnam has recently become a fast growing economy with the eyes of many investors and speculators on it. It’s a politically stable country with growing exports, making its currency an attractive investment option for risk taking investors. Ho Chi Minh City is the hub of tourist attraction and a great place for shopping.
If you’re travelling to Vietnam in the near future, “where to buy Vietnam dong” must be the first thought in your mind following the plans of your trip. Once you get your hands on the currency, you also need to start organizing your expenditures, looking up tourist attractions and making a budget in which you can enjoy your trip adequately. It’s true for visiting any foreign country, and the more you are well-informed about different aspects of the trip, the better.
A vacation in Vietnam; although at first thought might not seem so exciting, but you are surely in for an amazingly fun holiday that is full of surprises. The biggest advantage of Vietnam is that the prices here are very competitive, which means more fun for less payments. All you will need is a week for a trip across the country, literally from Hanoi to Saigon.
While scams can happen in your home country as well, living in one place means you know how to protect yourself. When visiting any foreign country, you must do your research properly. Whether it is a business visit entailing a quick visit or a vacation trip to Vietnam, you should have a general idea to what you must look forward to and protect yourself from.
Last year, the stock market of Vietnam outshined the counterparts of various other emerging economies and a similar trend is expected through the current year. When various economic performance indicators of Thailand and Indonesia were deteriorating, Vietnam’s were shining brighter. There are expectations for the Vietnamese market to outperform its neighboring countries’ in the current year.
Although most people focus on US Dollar, Japanese Yen, Swiss Franc, Euro and Pound Sterling when it comes to making investment in currencies, there are various low value currencies that have large potential to rise and thus provide good returns to the investors.
You can find loads of information on all the major currencies and their projected forecasts all over the internet. However, let us look at two overlooked, low value currencies that you may consider investing in during 2015.
The top most traded currencies in the world include the Euro, British Pound, Japanese Yen and Swiss Franc. All of these currencies trade against the mighty US Dollar, which is a benchmark for all currency trade across the globe.
Although it is less likely that the Vietnamese Dong will be able to compete with these giants in the near future, the outlook for the Dong is very positive. There are various reasons why currency traders are looking to invest in the Dong. Here we discuss a few of them.
Vietnamese government has been hard at work since the late 1980s to improve their country’s economic standing. They took several decisive steps towards this eventuality, like the Doi Moi plan, and have successfully assembled the fastest growing economy in Asia. With the second largest oil reserves in East Asia, many big players in the international market have their sights on Vietnam. The only thing they have not been successful in achieving yet, is the revaluation of their currency, the Dong.
BRICS is an association of the 5 biggest emerging economies in the world; Brazil, Russia, India, China and South Africa. The association began with four members in 2009, and South Africa was later included in 2011. The purpose of this association was to improve the financial situations of the fastest growing economies in the world. All 5 countries had the aim to reform the established international financial institutions, like the World Bank, and they wanted an alternate currency for performing international trade.
The long war in Vietnam completely ravaged the country; the physical as well as the economic infrastructure, was in ruins. And there was no respite for the nation, even after the war. Sanction after sanction were slapped on Vietnam, which greatly hindered the rebuilding efforts. And the country also had to face many natural disasters, so basically poor Vietnam couldn’t catch a break. That was until 1986, when the Vietnamese government took control and launched their “Doi Moi” plan.
We talk a lot about the future and how the Vietnamese Dong will revalue in that future. Today, we are going to take a look at the past and discuss the history of the Vietnamese currency. How it went from 2 Dong to $1 to about 20,000 Dong to $1.