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.
In the previous blog, we talked about the amazing tourist spots that Vietnam has on offer for tourists. If you have decided to visit Vietnam to check out those spots, read on!
One of the worst things you can do on your vacation to Vietnam would be, to follow the guidebooks to the letter. The better strategy would be to use the books as a guideline and add some exploration into the experience. There are many hidden and unseen places in Vietnam that you will not find in the pages of a guidebook.
Vietnam is full of historically significant buildings, culture, and heritage. There are pristine beaches and scenic spots that would take your breath away; these are just some of the attractions that Vietnam has for visiting tourists.
China, quite recently, became the second largest economy in the world. This staggering pace of economical progress is widely recognized as the fastest and largest growth made by any country in the world. The feat seems impossible to repeat, but not in the eyes of Vietnam.
One of the most important things that you will need to know before you depart for your Vietnamese vacation will be the actual costs of everyday essentials in Vietnam. The following information will give you a ball-park figure of all the expenses that you can expect on your vacation. To avoid being overcharged for items, it is better if you purchase Vietnamese Dongs before you leave. At BuyVND.com, we offer the best prices for VND and all types of bank notes are available.
These days, the financial market has been greatly revolutionized. One of the new trends that you will find is the crypto-currency. This term is used since the creation of this currency employs military-type cryptography so as to avoid fraud. Bitcoin is a new kind of money which makes use of peer-to-peer technology in order to facilitate various kinds of transactions. This payment system is open-source and decentralized. With that in mind, the use of this cryptocurrency is will not be regulated and will not require bank transactions. Any transactions would just be between the parties involved.