Vietnamese Dong and potential opportunities of investment

The foreign exchange market, or FOREX market, is in the immaterial world of ZEROS and ONES which are flowing over the Web between millions of computers twenty four hours a day; five days a week. It is well known that New York Stock Exchange is the God father for this type of market. This is a global market for different currencies, there are no strict rules, some investors can benefit millions of dollars in few second, just due to 1/100 changes of a penny. Here, you can experience the wild face of investment.

For years, countries central banks, commercial establishments and banks, multi-national companies, hedge funds, and multimillionaires have controlled FOREX market. But recently, standard person can easily access this market online. In a matter of minutes, the one can easily set, deal, or delete an account. Leverage made this possible. Now, you can see FOREX broker accounts with (400:1) leverage. This makes the minute changes in a penny worth a lot. However, some people are not utilizing leverage in their investments in the FOREX market. Actually, they don’t even need a computer or an internet connection. For such people, a shoebox at the bottom of their closet or under bed is more than enough. These simple people invest their money by buying as much as they can from a weak currency, like Vietnamese dong, and then trade it against US dollar, actually they invest in patience.

American invasion to Iraq, has directed the attention to investment opportunities in Vietnamese Dong. It is worth mentioning that the circulation of dong currency is one of the weakest in the world, ranging around (16, 000:1). Unfortunately, ten years of depreciation caused the dong to be in this bad level. But the growth of Vietnamese economy hits the second place after Chinese economy. Constantly, Vietnam is experiencing an increase in; foreign direct investment; the growth of good business; and good economic news. Most likely, the one thing that keeps the value of the currency at its present level is the desire of Vietnamese government to minimize the export price.

Many US citizens still have the bad memories of the Vietnamese War. However, since the end of the Vietnamese War in the year of 1975, both countries have taken a different economic route.

Well nowadays, the economy of the United States of America is referred to as one of the most powerful economies in the entire world. But Vietnam is considered to be a third-world country, and remains among the poorest countries in Asia and Southeast Asia.

Thus, Vietnam is unable to stabilize its currency against the U.S. Dollar and the Vietnam Dong had suffered a recurrent slide. Finally, it is worth mentioning, that one should monitor whether or not the government of Vietnam will devalue its own currency again, which had occurred three times within one year(from November 2009 – November 2010). This frequent devaluation caused the weakness of trading for Vietnamese currency against the US dollar, especially in the black market, where it is much easier to exchange the currency with more cash.

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One thought on “Vietnamese Dong and potential opportunities of investment

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