Vietnamese Dong Revaluation

andfo82

I have been given a tip that the Dong is set to be revalued or even has been revalued and it just has to be announced. Is this true or is it a hoax? As someone with a few million Dong from a previous holiday should I keep hold of it and will it be revalued? Regards andfo82

2010

andfo82 wrote: »

I have been given a tip that the Dong is set to be revalued or even has been revalued and it just has to be announced. Is this true or is it a hoax? As someone with a few million Dong from a previous holiday should I keep hold of it and will it be revalued? Regards andfo82

You`re on the wrong forum mate.

Try this one.
http://dongtalk.com/forums/ :rotfl:

ColdIron

Given you probably only have about £60 and to my knowledge you can't exchange it outside Vietnam I wouldn't worry about it. I do wish they'd produce a million dong note though for the sake of my pockets

Voyager2002

Does this mean that Dong are the new silver? Should we be putting all our savings into Dong ETFs?

Seriously, what usually happens when countries do this is that they create a New Dong (or Rouble, Cedi, Mark or whatever) and people have to take their money to the nearest bank to exchange a thousand old for one new. After a while the old banknotes lose their value completely...

Back in the days of fixed exchange rates a government could declare that its currency was going to be worth more (or less) against sterling or the dollar, but nowadays the markets make those adjustments several times each minute.

antrobus

andfo82 wrote: »

I have been given a tip that the Dong is set to be revalued or even has been revalued and it just has to be announced. Is this true or is it a hoax?....

It's a scam. Like the Iraqi Dinar scam.

http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/

andfo82 wrote: »

....As someone with a few million Dong from a previous holiday should I keep hold of it and will it be revalued? Regards andfo82

Please yourself. Just don't be persuaded to buy any more.