It would be important to make this distinction. The VND is weaker (same with other currencies) relative to the USD in recent times (due to Federal Reserves rate increases), but it has held up very well compared to many other currencies such as the Euro, Thai Baht, Malaysian Ringgit, Indonesian Rupiah and Philippine Pesos. The Japanese Yen has been devalued quite significantly though. The title is also not accurate. The VND would be regarded as relatively weak in the past and that is no longer the case. For the past 10 years the currency has been quite stable with overall inflation below 4%. The strength of a currency rests on its stability or gains in exchange rates, not from its numerical denomination. A re-denomination of a currency is an option for many countries. 1 Japanese Yen can be re-denominated to equal 1 USD, for example. With the creation of the Euro, it was initially set to equal 1.25 USD. A re-denomination of a currency would require a country to reissue new bank notes and for people to readjust to new numerical pricings, wages, so on. No small task though.
Because under useless and stupid of the Vietnam Comunist government, the Vietnam Đong is so damn weak, for God sake, the USA under Joe Biden Comunist Democrats party the USA currency is going down hill now due to high inflation,
1 USD = 24,000 VND doesn't mean the Dong is very low. 24K Dong will not even get you a bowl of pho on the side street store, it is about 72,000 VND (3 USD). Most Vietnamese drop the last three zero digits, and instead of saying 24 thousand Dong, most people say 24 Dong, so take it as 1USD = 24VND. Likewise, for the Japanese Yen, 1USD = 150JPY, and a bowl of ramen in Japan is 1, 000JPY (USD7). Doesn't that mean the Yen is very weak? Not at all. You determine how weak the currency is by looking at the purchasing power of 1USD in that currency country. Not by how many zero. 1 bowl of Pho in HCMC cost equivalent 3 USD, So the Đông is not as weak as what this stupid video claims it to be. 1 bowl of Raman in Tokyo cost equivalent to 7 USD. So the Yen is not weak
@@vinhloctruong4271 ?All I see in his cmt did not have a word telling you that adding a "K" will make đồng more valuable, where did you get that from? Your imagination, sir?
1 Thai bath = ~650 vnd Currencies are just like cups. Thailand uses a huge cup to contain water. In contrast, Vietnam uses just a tiny cup. It's a mere ratio, not relating to weak or strong. When Russia requires EU to buy russian ruble to purchase gas, Eu had to comply. Or other countries buy Japanese yen to trade with Japan. So it's exactly where a currency shows its strength, not a transfer ratio.
You said "not relating to weak or strong.", that's funny! First, why don't you bring VND500,000 to buy a house in Vietnam? Second, money is not a cup, it's a note and it's definitely easier to bring a note 1 Thai bath than 650 cups.
@@TrevorPham2402 I think you dont understand his point is all. Weak and strong are both relative in this context, 1 MNT (Mongolia currency) = 7.2 VND. But that doesn't mean Mongolia a currency is stronger. Also it seems you dont even understand his metaphor for currencies are just like cups. 1 baht is not even in market anymore, and certainly bring around 20baht is just as easy as bring around 10 000 dong
Its value is small. It doesn't mean it is weak. The exchange rate, to the USD for instance, may change. But as soon as the Dong becomes weaker, the USA would blame the VN state bank for manipulation aiming at promoting export. Protectionist measures would follow immediately.
Depends on how you interpret the definition of the word "Weak", but statistically speaking, the Dong's exchange rate is very low so yes it's weak in this regard. On the other hand, if you define "Weak" as it's power as a tender in global trade then it's also weak, usually the most prevalent currency would be the Dollar or the Euro.
@@tartzmir7934the money strength is depended on economic power and that is the reason why they might not have highest exchange rate but widely used and be insured by trading goods in that currency(that is the reason why Euro and USD are ruling the world but not china yet). But if you take VND that account we have higher trading volume than other higher exchange rate currency. So that its not the 2rd or 3rd weakest currency.
Just want to say that the "South VN đồng" banknote shown at 1:21 is actually a 1951 VietMinh banknote, while the "Liberation đồng" at 1:27 is in fact a South VN (Republic of VN) đồng note. 😅
@@aryscsgto be honest, us vietnamese laugh at china currency "nhân dân tệ"= terrible citizen all the time. don't act as if we are great, mighty and humble
The currency unit is merely a figure that a country chooses to denominate its currency. Essentially, there is no change in the value of goods. For example, a gold ring priced at $200 in the United States would still have the same value of $200 when sold in Vietnam. The only difference lies in the terminology and the number of zeros when converted to the VND currency.
In fact we already thought about removing the 000 but it will be very hard to reprint all notes and re educate our people with the new currency. It will turn out very costly.
There is something to be said about its relative stability over time though. e.g. the delta for VND to USD over the last 10 years is a 13% decrease in value of VND compare to the delta for JPY to USD is a whopping 36% decrease in value. Having said that, as a recent VN visitor, thank goodness for smartphone's calculator/converters.
I believe Vietnam is able to produce daily basis domestically, which means that the casual citizens will actually live quite comfortable. The low currency doesn't mean much when it comes to daily needs. Meanwhile, luxury goods from abroad will definitely be much more expensive than other countries like Cambodia or Thailand.
@@nguyenduyhoang21I think decent house eating 3times a day and children is at school actually some asian live a comfortable and less stressed rather than the west cost of living is high the housing is not affordable for everyone taxes and so on probably i want an average country with decent life rather rich country and everything is expensive.
@@fatimafaris3544 that's life style is very affordable in Vietnam. Rent will be slightly expensive in big cities, but as long as you work 8 hours a day 6 days a week, cook your food and don't touch luxury stuffs (which you don't need anyway), you're be fine
@@nguyenduyhoang21 They same in my country philippines i live in rural area cost of living is little cheap i have minimum wage having a house and lot less stressed and contented.
@@nguyenduyhoang21 In my opinion, the term "comfortable" doesn't apply to all cases the same way. It's always active and approximate to the level of "satisfaction", which also differs for everyone and leads to other multiple definition. That's why people have different opinions about "comfortable". My "comfortable" changes every moments, so do you, so it's unlikely to define it in a correct statement.
The simple answer is: BECAUSE THEY WANT TO. And they are RIGHT in wanting it. Purposedly devaluating their currency (US accused them of that several times) is one of the key factors in the Vietnamese economic miracle.
In Vietnam, we use paper money starting from 100đ. If you remove two zeros from the banknotes, you can see that 1$=250đ in reality. A few years ago, the Vietnamese government had a plan to change the flimsy currency, but it required a significant amount of money and was complicated. Perhaps in the future, as people shift from using cash to internet banking, the government will make a similar change. Now, let's compare the Vietnamese đồng (VND) with other currencies from 26/1/2019 (1$ = 23,084 VND) to 21/1/2024 (1$ = 24,550 VND). It lost -6.35%. Japan: USD/Yen from 26/1/2019 (1$ = 109.56 JPY) to 21/1/2024 (1$ = 148.14 JPY), experiencing a loss of -35%. South Korea: USD/Won from 26/1/2019 (1$ = 1,119 KRW) to 21/1/2024 (1$ = 1,335.86 KRW), facing a loss of -19.37%. Thailand: USD/Baht from 26/1/2019 (1$ = 31.56 THB) to 21/1/2024 (1$ = 35.5 THB), encountering a loss of -12.48%. ------------- The long numbers on the paper are not a significant problem; let's evaluate their performance.
@@shadowblitzo123 One person owns a cow (worth $10), and the other person owns a chicken (worth $1). So, do you think the person who owns cow worth $10 is wealthier than the person with chicken worth $1, right? Well, no, then you don't understand. The cow owner only possesses 5 cows ($50 in total), while the chicken owner has 1000 chickens ($1000 in total). Now you can see whose household is wealthier. We need to consider the overall economic value, and we cannot use different units for comparison to determine who is wealthier.
but the long 000 meaning disaster in controlling money policy in the past. That was in line with VN communist’s stupidity in 80s, 90s when handling the economy
Wrong, the smallest currency in Vietnam right now is 100VND. Many people think 100VND is not usable but with the fact that the Government hasn't banned it yet so we can still use it. Many people don't know but Vietnam has Coin as money not just paper money. We have 200, 500, 1000, 2000, 5000VND coins and yes these coin are usable but because we don't really like to use coin and rarely use it so the Government stopped producing coin since 2011
@@lehoang3532 100VND notes are STILL not disappeared. Sometimes there are events where people refuse to accept 100VND note because they thought the goverment banned it. Here myself currently has a 200VND note and in the past I was lucky enough to had a 500VND coin. But yeah these notes and coins are slowly disappearing. I won’t surprised if soon in the future the Govenrment will acutually banned these notes and all coins
@@legiahuy9436Nhà nước không cấm nhưng nhà nước đã không in đồng 100,200,500 nữa rồi cho lên thực tế 1000 đồng là tiền bé nhất đang lưu hành trên thị trường. 100,200,500 bây giờ chỉ có giá trị với những người sưu tầm tiền cũ. Nếu bạn kiếm được mấy tờ đó mà có số seri đẹp có khi bạn bán được một số tiền rất lớn so với giá trị của nó.😂
So giá ổ bánh mì ăn sáng là ổn nhất. Hiện giờ một ổ bánh mì lề đường giá 15k VND. Bửa sáng bình dân nhất của Mỹ là bao nhiêu? Nếu đâu đó cỡ 1 USD mà bên Mỹ ăn no bụng có nghĩa là tiền VNĐ quá yếu và người dân VN sống khó khăn hơn bên Mỹ (thu nhập chênh lệch nhiều mà bửa ăn giá như nhau).
It doesn't mean that they're millionaires smh, most probably the prices of goods in Vietnam are much higher in Dong currency as not compared to any other Asian currencies which have strong value than Dong 😅
This video didn't explain how much you can get Let's say you have 5$ You can: Buy 8-11 soft drink since they mostly sell for 10-15k VND (in small city and town it's mostly 10k vnd and big city some sell for 10k some sell for 15k) Eat a fancy Lunch and a fancy breakfast since they most sell around 50k (small city/town normal lunch and breakfast sell for 20-30k so you can get 4 of those with 5$) Buy 3-10 coffee depending on the brand and which store sells them So yeah people weren't lying when they said you can become a millionaire if you move to vietnam. But idk sh*t about currency trading so idk if they will stop you after you reach a certain amount of money but yeah 5$ can get you alot of stuffs in vietnam
@@NguyenNatri Where i live they still sell stuffs for 30k and just a few months ago i went to the city and bought a 60k Hu tieu and it looked and felt fancy af
The second part is absolutely incorrect. A weak Vietnamese Dong (VND) does not have a significant impact on import too much because most essential products are manufactured in Vietnam. The government employs high taxes to support local companies in producing new goods that are currently imported at high prices
@@mihleo6391 nó sai khi chúng tôi đang dần thay thế Trung Quốc làm công xưởng của thế giới. Ngày nay hàng hóa sản xuất tại Việt Nam đang tràn ngập các siêu thị của Mỹ và Châu Âu. Một nền sản xuất yếu không có nghĩa là nó không có khả năng tiến lên phát triển cực đại. Ngày nay bạn mua những đôi giày Nike chính hãng, hầu hết đều sản xuất tại Việt Nam ... và sẽ còn nhiều nữa.
@HigehiroGo nói đến ô tô thì nhớ đến vinfast đợi vị nội địa hoá đc 90% linh kiện ko biết đến bao giờ chứ giá xe vẫn chát quá, mong sao nghành công nghiệp phụ trợ 5 đến 10 năm nữa pt hoàn toàn giúp vin nó bỏ đc thuế nhập khẩu từ linh kiện đi thì xe mới rẻ đc
I thought it's discussing the digestive issues from Vietnamese food and thought "I thought Vietnamese food is pretty healthy" and then realized I am a trader
It is pretty healthy unless you buy in unauthorized vendors. Bargain-priced in most official or luxury restaurants. As a Vietnamese, I aware and understandable that street foods are not sufficient cleanliness standard so that if you want to avoid eating disorder, please be wary of vendors and merchants, try it in official store, even in authorized shop, food is still cheap and reasonable priced.
200-500k dong,or 10-23 dollar comparing to US 35 dollar,still not that much,and of course, the earning and spending depend a lot in which states/province you're living in
everyone knows it takes vietnamese people at least 20 years to buy a car whereas others need only 2 years to buy the same car. another simple fact: average vietnamese ppl have to work for at least 3 hours a day to buy an average meal. in usa, however u get the wage of 20 usd, which can buy a hamburger and coffee. is it enough?
About a decade ago, my then girlfriend, now wife, went to Vietnam. She was trying to negotiate a lower price for a tour. I was about to say something, but then recognized that it would much wiser to just stay quiet. As we walked away, I asked her why she was trying to negotiate what was the equivalent of 0.50 USD (aka fifty cents, 2 quarters, 5 dimes). Sh elooked at me with wide eyes and started giggling. Said, just let them have the 50 cents. She spent more than 50 cents of my time (based on my salary) trying to bargain them down.
Tourists have no idea how small 20k, 10k, 50k is and just try to bargain. How the heck do people bargain from 2usd to 1.5 usd!?? As a tour guide on Vietnam, it cringes me when tourists bargain 2usd in front of me and it is hard to explain them about that.
8:00 problem are most vietnamese consume good are local and not import so weak dong isnt a problem, for philippine it is tho as they import most of the stuff include rice , kinda sad how philippine agri sector was destroy by the elite
One person owns a cow (worth $10), and the other person owns a chicken (worth $1). So, do you think the person who owns a cow worth $10 is wealthier than the person with a chicken worth $1, right? Well, no, then you don't understand. The cow owner only possesses 5 cows ($50 in total), while the chicken owner has 1000 chickens ($1000 in total). Now you can see whose household is wealthier. We need to consider the overall economic value, and we cannot use different units for comparison to determine who is wealthier.
The fact that gdp of VN is insanely low compare to the local south east Asia and the population is approximately 100 mil, which mean there are 100 people but only have 90 chicken. Meanwhile in Malaysia 1 people have more than 5 cows. Oh btw, it’s not about the chicken nor a cow, it’s abt the value of your paper, it is worthless like Zimbabwe and the paper not the chicken or the cow it not produce meat. In conclu, your “paper dong” is worthless to trade for anything else even a chicken.
@@user-ic9rh6ly6v You are talking about per capita income, I am talking about currency exchange rates. Can you compare Cambodia's currency to Vietnamese currency? 1 USD = 4000 Cambodian currency. So, is Cambodia richer than Vietnam?
@@ntienbo First of all, you don’t mean anything about the exchange rate since all you talked abt is you have more chicken than someone else’s cows which I assume you mean you have more property than other people and I’m try to point out that you can’t use a chicken nor a cow to represent your curency value, plus you have more population than other people so your property definitely higher for sure and that is not how we compare the economy of a country with the others. Secondly, Cambodia and Laos may have difference type of government than VN but somehow they still have the same in many way of organize, so you should pick some other country from south or from the west like Thailand for fair points.
@@user-ic9rh6ly6v Cambodia is just one example; all Southeast Asian countries have better exchange rates than Vietnam. Therefore, Vietnam is the poorest in Southeast Asia. For instance, in Myanmar, 1 USD equals 4 MYR. I'm not saying that Vietnam has more assets than other countries; what I mean is that the exchange rate doesn't reflect the reality. My point is, as you understand, the Vietnamese currency may have a low value, but the total domestic supply of Vietnamese currency is very high. That's one example.
@@user-ic9rh6ly6v You are probably a poor person. Whether a currency is worthless or not depends on the rate of devaluation over a specific period. The Japanese Yen for example has devalued a lot more than VND in the last 10 years. The Japanese who had exchanged their currency to VND would have kept more of their saving.
Vietnam đang trong giai đoạn có nền kinh tế chú trọng xuất khẩu vì vậy đồng tiền VNĐ có giá trị thấp là một lợi thế, đồng thời chính phủ Vietnam muốn giữ giá của đồng VNĐ ở mức giá trị thấp nhằm mục đích để nó phản ánh Vietnam vẫn còn là một quốc gia kém phát triển hoặc đang phát triển thì sẽ có cơ hội nhận được các ưu đãi về khoản vay với lãi suất thấp của các tổ chức cho vay như WB, ECB,...Trước đây Trung Quốc cũng từng chủ động phá giá đồng Nhân Dân Tệ để hổ trợ xuất khấu, nó đã tạo cho Trung Quốc có một nền kinh tế phát triển nhảy vọt như bây giờ.
Fun fact: When the Vietnamese just defeated Japan and gained our short peace and independence, the France and Japan took most of our valuable things, include gold, like lot of golds. So our government have to call out the people, we printed money but with nothing like gold to ensure it, so technically it just a paper, but the people believed in it, they used it to buy and traded, some even gave their valuable things to help ensure the money. Our money survived thanks to our people
Stop playing the stupid blame game, the VND is low because the communists didn't know how the economy work, they kept printing the money with a naive thought that inflation is the problem of the capitalism 😂😂😂😂
@@hhnguyen1210 oh yeah ? Then why most Africa countries followed western and capitalism still poor ? just admit you don't know anything about economy, if a country just keep printing money it will cause inflationary and fall out very quick ? Is Vietnam falling right now ? on the eyes of expert is a no, but on the eyes of some stupid people like you, well, you can imagine about it and wish one day it could happen, but it will never happen XXDDD
*Đọc bình luận của nhiều người cứ nghĩ đồng nội tệ Việt Nam đang hơi yếu. Thực tế tôi không nghĩ vậy, người làm video cũng đã chỉ ra lợi thế xuất khẩu, và bất lợi khi nhập khẩu đối với một đồng tiền yếu. Nhưng về bản chất tôi không nghĩ là đồng tiền nước tôi yếu, chính phủ có thể bỏ bớt 3 số 0 ở đằng sau được, nhưng họ không làm thế. Đất nước tôi đang phát triển cực kì mạnh mẽ và người dân cảm thấy đang giàu có và hạnh phúc nếu họ làm việc chăm chỉ trong các nhà máy hay khu công nghiệp.*
Ban suy nghi sai qua nhieu. King te Việt Nam o co noi luc. Tui da chung kien tu 1975 Cho den hien tai. Ban co the se nhin thay $ 1 us se doi duoc 30000 Việt Nam dong Vao Cuoi Nam 2024.
@@phuongchung4112 *bác ảo vừa thôi, không có chuyện đó đâu ạ, những người đứng đầu đất nước họ không có ngố mà để đồng tiền mất giá nhanh vậy được, đọc tin tức nhiều vào ạ 😂😂*
@@phuongchung4112 ko lên 30k thì sao, tao bảo vẫn 24k đấy, nếu 24 k mày gọi tao là bố nhá, nếu lên được 30k tao cho mày 100 tr chơi ko con trai, chắc gì học song cấp 3 chưa mà đi nói chuyện trính trị
I wish I could see this video earlier because it has applied all things I have learned in macroeconomics (just principle). I love this video so much!!!
The title is missleading .The vietnamese is NOT A WEAK money ,it is exactly the contrary : IN 2013 a viet nam dong : 1 euro = 27000 vnd and now in 2023 ten years later 1 euro = 267000 vnd . in 10 years the change between vnd and euro remains the same ! so can you still say that vnd is week ????
In the beginning the video said it is not that simple when an American become a millionaire overnight due to the insanely low value of VND to USD, but there is no explanation for this statement in the video. Anyway, the video is very nice
Recently in Vietnam, a person with the highest power in the bank made false invoices to withdraw more than 14 billion dollars of money by appropriating money from idle depositors to get interest. Causes panic Vietnam's international economy is slipping. Caused that bank to go bankrupt and tens of thousands of people cried to get their money back, but the government could only solve 20%.
Vietnamese Currency is not on a lose, since Vietnam is one of the major exporting countries in Southeast Asia, for its agricultural products and Tax registrations compliance, the DONG is always performing the way it should be, while it preserves its GDP. One of the Cleanest country in the World today due to the discipline of the Vietnamese citizens and its character amongst foreigners who has set foot to their land. Promising Vietnamese people and its economy.
Currencies are like numbers. They don’t really reflect the true value of goods. 25k sounds like a lot in USD but that can barely afford you a bowl of noodle in VN
And what's better, you need like 3 times that amount to afford the same bowl of noodles in the US. Currency is just fiat money, it doesn't have value on its own.
quan trọng là 1h thằng công nhân làm hãng bên mẽo nó làm 1h là ăn được 2 tô phở. Còn công nhân mình lương một ngày thì ăn được bao nhiêu tô phở mới là vấn đề. Nếu 150k một ngày thì tầm 5 tô thôi. Chưa tính chất lượng thịt nó ra sao. Còn an toàn thực phẩm nữa. Giống như là so sánh cao cấp hơn là công nhân mình làm bao lâu mua được iphone 15 còn công nhân mẽo làm bao lâu mua được iphone 15. Mẽo thì 1 tuần nó mua được. Còn VN mình thì 4 tới 5 tháng. Vậy là biết tiền mình yếu hơn nó và những nước đông nam á xung quanh nhiều rồi
Ah yes the disadvantages is clear. We consumers have to spent lots of money for imported goods, even some basic needs like antibiotics,elec tools,hygiene stuff,etc. It’s just really hard for lower-income( which most of Vietnamese are) to live comfortably
Là người Việt Nam, tôi thấy thật ấn tượng khi lạm phát kinh khủng và sự phá hoại của ngoại bang nhiều tiền nhưng kinh tế Việt Nam không đến nỗi sụp đổ. Phải nói rằng nhiều nước nếu đứng vào vị trí của Việt Nam khi bị 2/3 cường quốc vả liên tục thì có lẽ đã bẹp dí rồi.
It’s so hurt for Vietnamese manual workers, normal staff. The value of money is lowest but the cost of apartment is highest in the world. The average salary is about 350usd/month but the cost of an apartment is about 70,000 usd 😢😢😢
@quinguyenmelbourne7680 số ít thôi, trên 60% dân số vẫn nghèo. Người ăn xin, bán vé số khắp nơi. Người yếu thế ko dc bảo vệ. Chênh lệch giàu nghèo ngày càng khủng khiếp.
People usually agree that the Vietnamese dong is very small but it is not weak. Will it become bigger in the future and fully satisfy the Vietnamese who are asking for more? Its hard to tell. Fortunately, due to international exchange, there are other choices in Vietnam nowadays.
While some commenters express satisfaction with their current standard of living, others face financial challenges. There are still pockets of poverty, and some Vietnamese people do choose to seek work abroad for various reasons, not just because they perceive a higher standard of living elsewhere. It is what it is...
I'm Vietnamese, I'm grateful that I'm not unemployed at this time, in truth, many people in Vietnam are still very miserable with their lives, there's a lot of unemployment and many people don't have enough money to organize events. The traditional holiday we call Tet. Corruption has devastated the country.
@@tinvo5369 Any country has corruption, even developed countries. The only thing we can do is try to reduce it as much as possible. At the moment, the government is really trying to focus on this issue so I expect on better future. If you look at the ratio of homelessness in Vietnam, it's way lower than in many developed countries. I saw many homeless people sleeping in tents on the street or at public transport stations in France and Germany. I am a Vietnamese living in both countries for a few years. I think the situation in the USA is also similar. And for the homeless here, they almost don't have any chance to make a way back to normal life.
Tôi từng gặp rất nhiều du khách đến Việt Nam bối rối vì họ không thể nhìn nhanh chữ số mệnh giá tiền. Điều đó khá là kỳ lạ đối với tôi. Tôi từng đi nhiều quốc gia ( ex : Korea, France, China, Japan... ) Tôi chưa bao giờ gặp khó khăn khi thanh toán bằng tiền mặt của quốc gia đó. Chỉ cần nhìn lướt qua là có thể phân biệt được mệnh giá ( không dựa vào màu sắc ). Có lẽ do chương trình Môn Toán đào tạo phổ thông suốt 12 năm chăng?
Vietnam was in heavy embargo imposed by the US up until 1995. Before that, wars after wars basically destroyed Vietnam economy to the point of having no economy at all. Vietnam has been through: - Feudal time - Colonial time & First Indochina War (1858-1954) - Second Indochina War / Vietnam War (1955-1975) - Cambodian-Vietnamese War (1977-1991) - Sino-Vietnamese War & Conflict (1979-1989) - US sanction (1975-1995) So, while you can blame it on the domestic policies to a certain extent, you should know that foreign factors actually have a huge impact on Vietnam economy, on why the Dong is so weak. Wars have torn this country to pieces, exhausting its economy. The country has only had roughly 30 years of peace and free trade. THIRTY. YEARS!
Vietnam Dong, Korean Won, Italian Lira (there once was such a currency) are 3 currencies of lowest value, I wonder why they don't just make a new currency replacing existing one with 1000:1 ratio
It bounds to tons of legal issues, and it'll be costly to execute. Printing new paper bills and replacing the old ones will be challenging while it brings very few to none benefits. The biggest benefit I can think of is that the bills look better lol
Bruh, it took me off guard at the beginning of this video, wasn’t thinking straight that it’s the Vietnamese dong (currency) we’re talking about, thought it was something else 😂
After the reunification of Vietnam, it's evident that many elements of the old Vietnamese regime continue to exist by resettling abroad, with a notable concentration, particularly in the state of California in the United States. Thanks to your video, I've become aware that these individuals still persist in significant numbers. thanks
The government and people of Vietnam do not want the currency to appreciate while we are still an export surplus country, contributing to the spectacular growth in recent years. We will maintain this until the export incentive is no longer important. Be wise thinkers instead of scoffers. The world ridiculed us in the 20th century but today most of them are speechless and the future is even more so. Americans are proving why they lead the world by accusing us of currency manipulation, while others only know how to mock with a few slang words in English about the Vietnamese local currency.
the secret is the state evaluate the currency, base on the market dynamic, then they make the decision. So we have control over our currency, to suit our people interest.
Its actually true about our currency. I’m Vietnamese myself and I can see why its kinda high. Like, at my school, a bottle of water or just soda cost 10.000 Vietnamese dong. Or in other cases, a meal at a restaurant cost about up to 100k or above. Like its a normal thing to see thousands in our currency. Very normal.
@@windsong3wong828 That only work on paper. In reality we bought China stuff. It took 20k and 3 days for a shipment from China to my house. On the other hand, a package from HCM took a week and 40k to get to my house. Furthermore, we don't produce shit, we bought from China and resell it in Viet Nam market. So that logic not work here.
The VND is not performing weaker just because its individual value is less. 1 Baht is equal to 4.16 Yen, does that mean Thailand is 4 times richer than Japan? 1 GBP is equal to 1.26 USD, does that mean the UK is 1.26 times richer than the US?
as Vietnamese , actually i have worked hard since i was 13yo. How money i make, How money i spend to survive . No party, No travel, No luxury . Thats Never enough to save money for what i like . The Government's viewpoint changes contrary to the needs of the people - High inflation is stupidest thing - when i wave 13yo, my family could be full with 10k dong. Nowdays 200k dong is frugally only enough for person per day. STATE 's Corruption though
With 500.000 VND, you can live for all week long in Vietnam. Imagining with 20 USD, can you live for more just one day? The value of the money brings is more important than the numbers.
@@luxubulaxaba You're completely wrong. As an expert for Vin, I have the same wage as the others who come from Westerner. The SMIC for a mason is around 350K VND per day, I guess.
@@leduchoan I don't need to know if you are an expert or not, the fact that the most optimistic GDP per capita of Vietnam is around $4163. That is $11 or 279.000 VND per day. 350.000 VND is still far away.
@@luxubulaxabaLiving in a country where the local currency holds more value than the US dollar may seem counterintuitive at first glance, but a closer examination reveals a myriad of factors contributing to this phenomenon. In Vietnam, the Vietnamese đồng has proven its resilience and stability, providing its citizens with a means to sustain themselves for longer periods compared to those reliant solely on the US dollar. Firstly, the cost of living plays a pivotal role in determining how far one's currency can stretch. In Vietnam, the relatively lower cost of goods and services compared to Western countries allows individuals to afford essential amenities without depleting their financial resources rapidly. From housing to daily necessities, the Vietnamese đồng facilitates a more sustainable lifestyle, enabling individuals to maintain a decent standard of living without undue financial strain. Additionally, the stability of the Vietnamese đồng contributes to its longevity as a viable currency for daily transactions and savings. Unlike the fluctuating nature of the US dollar, which can be subject to market volatility and external economic factors, the Vietnamese đồng maintains a more consistent value, providing a sense of security and predictability for its users. Furthermore, the cultural and societal context of Vietnam fosters a mindset of resourcefulness and frugality, further amplifying the purchasing power of the Vietnamese đồng. Practices such as communal living, traditional craftsmanship, and a focus on family-oriented values contribute to a more sustainable and interconnected way of life, wherein individuals can rely on the local currency to meet their needs over an extended period. In conclusion, while the US dollar may hold prestige on the global stage, the Vietnamese đồng offers its citizens a tangible advantage in terms of longevity and sustainability. Through a combination of factors such as lower living costs, currency stability, and cultural norms, individuals in Vietnam can effectively utilize the Vietnamese đồng to lead fulfilling and secure lives over an extended timeframe.
As a Vietnamese, i am sad to see our currency is much lower than other countries, even it affects to salary. The Earn is low, but the cost of living is high
Actually i am vietnamse and people don't use like 1 đ they use like 1000đ Btw it depend on where you are like countryside,3000 vnđ=1 bags of chip .but in city 25000vnđ=1dollars =1 bags of chip Btw like if you are vietnamse too
Its ok if a currency is weakened to benefit the economy and the economy grows. But in Vietnam's situation, their economy is shrinking as well. This means that the country itself is empty. Growth has been largely due to FDIs and not a real output from the domestic economy. It is a bad sign for Vietnam.
Idk what you're talking about but foreign owned enterprises produce just 20% of the national GDP. State and collective owned enterprises produce nearly 60% of the national GDP while only employing less than a fifth of the national workforce.
The low capitalism gain of communist national is why currency are weak, but reflect the state of Vietnamese, mainly sufficient in economic and living support means, no or low foreign debts or never lose control economic as capitalism nations. But the side effects of communist nations, hard to do business when governments are active prevent any companies become too big and harmful social well fare of nations, in short all Vietnamese have living wages as long they have stable jobs with government. When in capitalism nation always increases cost to earning more money, if do not calculate well, capitalism destroyed the market and salaries of people itself. The weak of đồng, do not count on foreign trading the final prices of products on international market, meaning Vietnamese companies can become very richer very easily, this is the same with China, low living cost, higher quality labors, maximum interest gains, on top of social well-being.
Wrong! The Vietnamese Dong has low value per unit is because of the vey high rate of inflation before Doi Moi. Vietnamese govt used to be cut 0s from its money unit until 1 day VN Govt decided that the number in money is not a problem but the economy strength. So they stopped removing 0s from the money unit value since that day.
The name "Dong" originated in the French colonial period. Since then, the currency always made of bronze(dong). Although when we were independent and eliminated the bronze and replace the paper, we still keep this name. And bronze in Vietnamese written " đồng". So please, don t joke about that.
Tôi không hiểu văn hoá mạng như thế nào , nước chúng tôi khác với hầu hết các quốc gia trên thế giới khi mà gần như xuyên suốt lịch sử hình thành toàn chiến tranh , chúng tôi mới hoà bình được 30 năm và bị Mỹ cấm vận nước tôi 30 năm trước là nước nghèo và tệ nạn nhất thế giới , chúng toii được ăn no đủ đầy là cả 1 quá trình nghìn năm đấu tranh , tôi đọc thật buồn ,nước tôi đã quá khổ rồi , tiền của chúng tôi mất giá đâu phải lỗi chúng tôi ? Hãy nói với những nước đã gây ra chiến tranh và cấm vận ấy , chúng tôi đã bỏ qua cho họ rồi ,mặc cho "đồng " có mất giá rất nhiều và ảnh hưởng đến gdp có sự chênh lệch rất lớn so với USD và thiệt hơn các nước láng giềng .Nhưng tôi có thể tự hào rằng Nhà nước chúng tôi luôn quan tâm đến dân , 30 năm trước người nghèo là nước nghèo nhất thế giới và giwof chỉ còn 1-1,5%, tôi tự hào nước tôi đáng sống hơn bất kì quốc gia nào khác , tôi khẳng định , tôi hạnh phúc khi sinh ra lớn lên tại đây .❤❤❤ Mãi yêu tổ quốc ❤
Đất nước thống nhất từ 1975, nghĩa là gần 50 năm rồi, những cuộc chiến tranh kia không xâm phạm vào biên giới, nhà máy, đồn điền và con người không bị chia cắt,...Một lũ cán bộ "ĂN KHÔNG CHỪA CỦA DÂN MỘT THỨ GÌ" gây nên viễn cảnh tồi tệ này
vietnamese never use "dong", they use "k" meaning 1000dong, so that the lowest value you can pay is 1k (in theory). in HCM city, the lowest price you can see is 10k that mean a half of 1 dollar. people usually by food for 30-40k and average salary is 25m-50m per month (1000-2000usd). you think dong is weak? nah, that is trick that we can bait the west buy our goods because they think it cheap.
I like the current value of Vietnamese currency. It has low value, but it is beneficial for trade transactions between Vietnam and other countries. Many financial institutions want the Vietnamese Government to change the value of Vietnamese currency but that is not necessary. After all, every currency, whether high or low value, must be converted into gold.
Yeah, and the exchange rate between gold and Vietnamese Dong rise and fall significantly just the last few months haha. There is no shy to hear Vietnamese Dong being weak. Listening other people explain our weakness and then improve is more important
Yup, you have to trade it in the country if you replace it with other curency the police will arrest you. It’s abt the obligatory, if not nobody want those worthless paper even the Vietnamese themselves. Sorry for truth.
As a Vietnamese person, the daily struggle for each individual in Vietnam is not solely about the strength or weakness of the dong currency compared to other currencies. The issue lies in the fact that the average hourly wage for Vietnamese laborers is only about $1. Most people have to endure hardship in both living and working conditions due to the meager salaries provided by the Vietnamese communist regime. While Communist Party members in Vietnam constitute only 5% of the population, they amass wealth through the exploitation of the remaining 95% of the Vietnamese people.
tôi ở tây nguyên sao tôi lại thây sống sướng thế. bạn chắc là thành phần đấu tranh cho dân chủ phải không? ở Việt Nam giàu hay nghèo do cái đầu với sự chăm chỉ chứ có liên quan đến đảng cộng sản luôn hả? đã nghèo nhưng lại u mê thích đổ lỗi cho chính quyền bảo sao vẫn mãi nghèo. chửi tôi là bắc kỳ đi. bạn là hậu duệ của lính nguỵ đúng ko?
When i first came here 17yrs ago it was crazy. I put a bucket of money in my local bank and got 14% interest. Properties were bought in gold. If a property was 100 taels of gold you would go to your bank and buy the gold and put it in your bag. They were halicon days for foreigners. Western banks were paying about 3% and we were getting 14% we were all living off our interest like kings. And your bank would ring you for your birthday and give you a present and Christmas also...growing old disgracefully in Vietnam.
@quinguyenmelbourne7680 you should also not ignore the fact that there are countless of homeless in cities in Vietnam. Vietnam's economy is strong or not shouldnt reflect on rich people but how much of wealth a Vietnamese have.
Not asian countries, but rather socialist/communist countries. This is due to the misinformation from the Western propaganda which trick the majority of people to hate on countries like Vietnam unfairly.
In Vietnam, the average salary of state civil servants is about 8-10 million VND a month (about more than 320 dollars), the lowest is about 3.6 million VND (about 150 dollars) and the highest is about 900 dollars. But they all build multi-million dollar mansions, you know ? 😅
I swear most vietnamese in the comment section will get mildly offended and go passive defensive simply because of the fact that statistically speaking, the Dong doesn't fare that well because of very ludicrious blunders in economic decision making from the Vietnamese government, and when things go south, they will just print more money to stimulate short term stability, however the Vietnamese Gov forgot one word that's called "moderation" so that's why our currency is so weak now.
Lạm phát vẫn tăng nhưng lại ít hơn các nước khác nhiều. Nếu năm nay xuất khẩu không gặp vấn đề gì thì tốt. Việc kinh doanh nhỏ, ngành dịch vụ mua sắm có thể chịu thêm 1 năm nặng nề nữa do lạm phát trên toàn thế giới + một phần do người Việt hiện đang tích trữ nữa. Về kinh tế vĩ mô thì có lợi cho VN, bđs dù đang ở giá cao nhưng vẫn sẽ tiếp tục tăng thêm
It actually written as "đồng" in Vietnamese. The "dong" that most foreigners usually speak and know about is lack of our diacritics thus it ended up being something they found as funny.
Chúng tôi định hướng là nước sản xuất và xuất khẩu nên tận dụng tiền thấp.. Khi hàng hóa sản xuất trong nước người dân sẽ được sử dụng giá rẻ hơn và khi xuất khẩu giá sẽ cạnh tranh và sinh lợi nhuận lớn hơn đối thủ
I know that some words maybe funny in different languages so i'm not offended by it :))) Btw, "Dong" meaning "copper" in Vietnamese due to we used coins made of copper in the past (we are now using money made of polymer paper and normal paper instead of copper)
Why do you think the Dong is performing poorly? Let us know down below!
It would be important to make this distinction. The VND is weaker (same with other currencies) relative to the USD in recent times (due to Federal Reserves rate increases), but it has held up very well compared to many other currencies such as the Euro, Thai Baht, Malaysian Ringgit, Indonesian Rupiah and Philippine Pesos. The Japanese Yen has been devalued quite significantly though. The title is also not accurate. The VND would be regarded as relatively weak in the past and that is no longer the case. For the past 10 years the currency has been quite stable with overall inflation below 4%. The strength of a currency rests on its stability or gains in exchange rates, not from its numerical denomination. A re-denomination of a currency is an option for many countries. 1 Japanese Yen can be re-denominated to equal 1 USD, for example. With the creation of the Euro, it was initially set to equal 1.25 USD. A re-denomination of a currency would require a country to reissue new bank notes and for people to readjust to new numerical pricings, wages, so on. No small task though.
Because under useless and stupid of the Vietnam Comunist government, the Vietnam Đong is so damn weak, for God sake, the USA under Joe Biden Comunist Democrats party the USA currency is going down hill now due to high inflation,
Terribley poor management of country
Congratulation to Asian countries. Vietnam will do our best to be better :-)
1 USD = 24,000 VND doesn't mean the Dong is very low. 24K Dong will not even get you a bowl of pho on the side street store, it is about 72,000 VND (3 USD). Most Vietnamese drop the last three zero digits, and instead of saying 24 thousand Dong, most people say 24 Dong, so take it as 1USD = 24VND.
Likewise, for the Japanese Yen, 1USD = 150JPY, and a bowl of ramen in Japan is 1, 000JPY (USD7). Doesn't that mean the Yen is very weak? Not at all.
You determine how weak the currency is by looking at the purchasing power of 1USD in that currency country. Not by how many zero.
1 bowl of Pho in HCMC cost equivalent 3 USD, So the Đông is not as weak as what this stupid video claims it to be.
1 bowl of Raman in Tokyo cost equivalent to 7 USD. So the Yen is not weak
It's cool to see an in deep analysis rather than laughing at the big number or some english slangs.
Yah, totally agree
haha, dong🤭
Pardon me, but I can't understand what u mean. Enlighten me pls :))
@@soncyco02 Dong sounds like a slang for penis
some people in Australia laughing at our Vietnamese dong bc dong mean sth not really nice in their language
I'm a grown-ass man, I'm a grown-ass man
Dong hehe
Dong
Their dong is weak
why is vietnam’s dong so little? 😭
@@rynxuz bruhh 😂
Most people use K instead of three zeros to make price tag shorter. A dollar can be converted to 24,000 then they simply write 24K
Same with rupiah, 1 dollar 15.300
15.3k
really? mostly i see is just the numbers without the k
like 24 = 24.000
@@vinhloctruong4271 ?All I see in his cmt did not have a word telling you that adding a "K" will make đồng more valuable, where did you get that from? Your imagination, sir?
@@vinhloctruong4271 Đã ai nhắc gì đến giá trị của đồng Việt chưa hả họ Trương?
@@vinhloctruong4271 Brainless behaviour
1 Thai bath = ~650 vnd
Currencies are just like cups.
Thailand uses a huge cup to contain water. In contrast, Vietnam uses just a tiny cup.
It's a mere ratio, not relating to weak or strong.
When Russia requires EU to buy russian ruble to purchase gas, Eu had to comply. Or other countries buy Japanese yen to trade with Japan. So it's exactly where a currency shows its strength, not a transfer ratio.
You said "not relating to weak or strong.", that's funny! First, why don't you bring VND500,000 to buy a house in Vietnam? Second, money is not a cup, it's a note and it's definitely easier to bring a note 1 Thai bath than 650 cups.
@@TrevorPham2402 I think you dont understand his point is all. Weak and strong are both relative in this context, 1 MNT (Mongolia currency) = 7.2 VND. But that doesn't mean Mongolia a currency is stronger. Also it seems you dont even understand his metaphor for currencies are just like cups. 1 baht is not even in market anymore, and certainly bring around 20baht is just as easy as bring around 10 000 dong
Ok 2 ông người Van chát tiếng anh vs nhau.
@@quangtrungkl ok & chat la tieng Anh -do' cha noi. Biet noi nguoi ta thoi.
@@quangtrungkl Kênh tiếng Anh nói vậy cho các bạn nước ngoài hiểu thêm, chứ mấy ông kia nói bôi xấu nước mình quá =)))
Its value is small. It doesn't mean it is weak. The exchange rate, to the USD for instance, may change. But as soon as the Dong becomes weaker, the USA would blame the VN state bank for manipulation aiming at promoting export. Protectionist measures would follow immediately.
It is weak and pathetic and the country is an abslolute shdhole😂😂😂😂
Depends on how you interpret the definition of the word "Weak", but statistically speaking, the Dong's exchange rate is very low so yes it's weak in this regard. On the other hand, if you define "Weak" as it's power as a tender in global trade then it's also weak, usually the most prevalent currency would be the Dollar or the Euro.
@@tartzmir7934the money strength is depended on economic power and that is the reason why they might not have highest exchange rate but widely used and be insured by trading goods in that currency(that is the reason why Euro and USD are ruling the world but not china yet). But if you take VND that account we have higher trading volume than other higher exchange rate currency. So that its not the 2rd or 3rd weakest currency.
The Ho Dong is worth less than a sheet of toilet paper; one sheet of toilet paper worth 30 Ho Dong
@@nhachuaracbanhthuinhattoan3702 Better than Diem currency doesn't even exist. DIEM Dong = 0 value
Just want to say that the "South VN đồng" banknote shown at 1:21 is actually a 1951 VietMinh banknote, while the "Liberation đồng" at 1:27 is in fact a South VN (Republic of VN) đồng note. 😅
The title of this video leaves much to the imagination.
lmao
i'm mature enough
i'm mature enough
i'm mature enough
@@lonewolfz08 😆😆
can you stop fucking disrespect the currency?
@@aryscsgto be honest, us vietnamese laugh at china currency "nhân dân tệ"= terrible citizen all the time. don't act as if we are great, mighty and humble
The currency unit is merely a figure that a country chooses to denominate its currency. Essentially, there is no change in the value of goods. For example, a gold ring priced at $200 in the United States would still have the same value of $200 when sold in Vietnam. The only difference lies in the terminology and the number of zeros when converted to the VND currency.
"a weaker dong can attract more foreign tourists and investors"
*cyberpunk 2077 meme song played*
As Vietnam also Cambodia is some of developing countries, so this might be changed in the future.
Greetings from Native indigenous Khmer in Vietnam.
Hello from khmer leu,thai buriram
Campuchia dùng Nhân Dân Tệ và Đô La😂
In fact we already thought about removing the 000 but it will be very hard to reprint all notes and re educate our people with the new currency. It will turn out very costly.
@@vinhloctruong4271 but it will make the currency looks strong
it will cause more chaos and bring no benefit.
It won't be symmetrical with what we do, We should change self values and the quality of the product instead of triple 0.
commie
No need. I live how everyone is making millions lol.
There is something to be said about its relative stability over time though. e.g. the delta for VND to USD over the last 10 years is a 13% decrease in value of VND compare to the delta for JPY to USD is a whopping 36% decrease in value. Having said that, as a recent VN visitor, thank goodness for smartphone's calculator/converters.
I believe Vietnam is able to produce daily basis domestically, which means that the casual citizens will actually live quite comfortable. The low currency doesn't mean much when it comes to daily needs. Meanwhile, luxury goods from abroad will definitely be much more expensive than other countries like Cambodia or Thailand.
You're right. But I'm curious what does a comfortable life look like to you personally?
@@nguyenduyhoang21I think decent house eating 3times a day and children is at school actually some asian live a comfortable and less stressed rather than the west cost of living is high the housing is not affordable for everyone taxes and so on probably i want an average country with decent life rather rich country and everything is expensive.
@@fatimafaris3544 that's life style is very affordable in Vietnam. Rent will be slightly expensive in big cities, but as long as you work 8 hours a day 6 days a week, cook your food and don't touch luxury stuffs (which you don't need anyway), you're be fine
@@nguyenduyhoang21 They same in my country philippines i live in rural area cost of living is little cheap i have minimum wage having a house and lot less stressed and contented.
@@nguyenduyhoang21 In my opinion, the term "comfortable" doesn't apply to all cases the same way. It's always active and approximate to the level of "satisfaction", which also differs for everyone and leads to other multiple definition. That's why people have different opinions about "comfortable". My "comfortable" changes every moments, so do you, so it's unlikely to define it in a correct statement.
The simple answer is: BECAUSE THEY WANT TO. And they are RIGHT in wanting it. Purposedly devaluating their currency (US accused them of that several times) is one of the key factors in the Vietnamese economic miracle.
In Vietnam, we use paper money starting from 100đ. If you remove two zeros from the banknotes, you can see that 1$=250đ in reality. A few years ago, the Vietnamese government had a plan to change the flimsy currency, but it required a significant amount of money and was complicated. Perhaps in the future, as people shift from using cash to internet banking, the government will make a similar change.
Now, let's compare the Vietnamese đồng (VND) with other currencies from 26/1/2019 (1$ = 23,084 VND) to 21/1/2024 (1$ = 24,550 VND). It lost -6.35%.
Japan: USD/Yen from 26/1/2019 (1$ = 109.56 JPY) to 21/1/2024 (1$ = 148.14 JPY), experiencing a loss of -35%.
South Korea: USD/Won from 26/1/2019 (1$ = 1,119 KRW) to 21/1/2024 (1$ = 1,335.86 KRW), facing a loss of -19.37%.
Thailand: USD/Baht from 26/1/2019 (1$ = 31.56 THB) to 21/1/2024 (1$ = 35.5 THB), encountering a loss of -12.48%.
-------------
The long numbers on the paper are not a significant problem; let's evaluate their performance.
Overproud at 1USD = 23000VND 😂
@@shadowblitzo123 One person owns a cow (worth $10), and the other person owns a chicken (worth $1). So, do you think the person who owns cow worth $10 is wealthier than the person with chicken worth $1, right? Well, no, then you don't understand. The cow owner only possesses 5 cows ($50 in total), while the chicken owner has 1000 chickens ($1000 in total). Now you can see whose household is wealthier. We need to consider the overall economic value, and we cannot use different units for comparison to determine who is wealthier.
@@ntienboand the fact here is that we own 1 chicken while they possess 1000 cows...
@@shadowblitzo123 Oh, I see it make you happy 🙂
but the long 000 meaning disaster in controlling money policy in the past.
That was in line with VN communist’s stupidity in 80s, 90s when handling the economy
But the smallest Vietnamese currency that you can hold in your hand right now is 1000VND. And 1USD is 100cents
Wrong, the smallest currency in Vietnam right now is 100VND. Many people think 100VND is not usable but with the fact that the Government hasn't banned it yet so we can still use it. Many people don't know but Vietnam has Coin as money not just paper money. We have 200, 500, 1000, 2000, 5000VND coins and yes these coin are usable but because we don't really like to use coin and rarely use it so the Government stopped producing coin since 2011
@legiahuy9436 Technically, you are not wrong. But the presence of
@@lehoang3532 100VND notes are STILL not disappeared. Sometimes there are events where people refuse to accept 100VND note because they thought the goverment banned it. Here myself currently has a 200VND note and in the past I was lucky enough to had a 500VND coin. But yeah these notes and coins are slowly disappearing. I won’t surprised if soon in the future the Govenrment will acutually banned these notes and all coins
@@legiahuy9436Nhà nước không cấm nhưng nhà nước đã không in đồng 100,200,500 nữa rồi cho lên thực tế 1000 đồng là tiền bé nhất đang lưu hành trên thị trường. 100,200,500 bây giờ chỉ có giá trị với những người sưu tầm tiền cũ. Nếu bạn kiếm được mấy tờ đó mà có số seri đẹp có khi bạn bán được một số tiền rất lớn so với giá trị của nó.😂
So giá ổ bánh mì ăn sáng là ổn nhất.
Hiện giờ một ổ bánh mì lề đường giá 15k VND. Bửa sáng bình dân nhất của Mỹ là bao nhiêu? Nếu đâu đó cỡ 1 USD mà bên Mỹ ăn no bụng có nghĩa là tiền VNĐ quá yếu và người dân VN sống khó khăn hơn bên Mỹ (thu nhập chênh lệch nhiều mà bửa ăn giá như nhau).
It means people of Vietnam are all Billioners and Millioners and not poor😁
It doesn't mean that they're millionaires smh, most probably the prices of goods in Vietnam are much higher in Dong currency as not compared to any other Asian currencies which have strong value than Dong 😅
No , not really billion in vietnam is huge , it is a lifetime of work.
@@ToshiroQuery he just joking bruh
@@telhacbach1281ịt's like 50k US dollars, half of my annual income 😂. I guess I must be rich af in vietnam
When youre currency has a lot of 0s in them it means you are bad at running an economy. It means inflation.
that title is insane
This video didn't explain how much you can get
Let's say you have 5$
You can:
Buy 8-11 soft drink since they mostly sell for 10-15k VND (in small city and town it's mostly 10k vnd and big city some sell for 10k some sell for 15k)
Eat a fancy Lunch and a fancy breakfast since they most sell around 50k (small city/town normal lunch and breakfast sell for 20-30k so you can get 4 of those with 5$)
Buy 3-10 coffee depending on the brand and which store sells them
So yeah people weren't lying when they said you can become a millionaire if you move to vietnam. But idk sh*t about currency trading so idk if they will stop you after you reach a certain amount of money but yeah
5$ can get you alot of stuffs in vietnam
:D which one is weaker :D one can buy 2 drinks or which can buy 10 drinks? (coke 300ml)
No wonder white people say, Vietnamese beers are cheap
50k Breakfast or Lunch is considered usual nowadays in cities. I'd say the fancy word should suit when the price is above 150k per meal, per person.
@@NguyenNatri
Where i live they still sell stuffs for 30k and just a few months ago i went to the city and bought a 60k Hu tieu and it looked and felt fancy af
@@eckysgaming wait until you see the $170 Pho in Landmark 81.
So their exports are more attractive ☕️
And the imports are also on high price. But VN needs to import raw materials to make export products.
Vietnam's Dong might be weak but it has great personality, though.
Yeah ! All Vietnamese are millionaires 😂😂😂.
What personality?
The second part is absolutely incorrect. A weak Vietnamese Dong (VND) does not have a significant impact on import too much because most essential products are manufactured in Vietnam. The government employs high taxes to support local companies in producing new goods that are currently imported at high prices
Really ? We must import source medicine, our manufacturing weak as hell
its significantly right not wrong as you think
@@mihleo6391 nó sai khi chúng tôi đang dần thay thế Trung Quốc làm công xưởng của thế giới.
Ngày nay hàng hóa sản xuất tại Việt Nam đang tràn ngập các siêu thị của Mỹ và Châu Âu.
Một nền sản xuất yếu không có nghĩa là nó không có khả năng tiến lên phát triển cực đại.
Ngày nay bạn mua những đôi giày Nike chính hãng, hầu hết đều sản xuất tại Việt Nam ... và sẽ còn nhiều nữa.
@HigehiroGo nói đến ô tô thì nhớ đến vinfast đợi vị nội địa hoá đc 90% linh kiện ko biết đến bao giờ chứ giá xe vẫn chát quá, mong sao nghành công nghiệp phụ trợ 5 đến 10 năm nữa pt hoàn toàn giúp vin nó bỏ đc thuế nhập khẩu từ linh kiện đi thì xe mới rẻ đc
As a Vietnamese, hearing you say dong still make me crack a smile
I thought it's discussing the digestive issues from Vietnamese food and thought "I thought Vietnamese food is pretty healthy" and then realized I am a trader
What did you eat
It is pretty healthy unless you buy in unauthorized vendors. Bargain-priced in most official or luxury restaurants. As a Vietnamese, I aware and understandable that street foods are not sufficient cleanliness standard so that if you want to avoid eating disorder, please be wary of vendors and merchants, try it in official store, even in authorized shop, food is still cheap and reasonable priced.
Their banks having some issues now...
The value of money is just adding or subtracting the number 0. What matters is how much money you earn a day, that's the most important thing.
200-500k dong,or 10-23 dollar comparing to US 35 dollar,still not that much,and of course, the earning and spending depend a lot in which states/province you're living in
Don't forget prices of things. Vietnam's PPP is way higher than its standard GDP for a reason.
@@dd5083 he not saying vietnam make more than the rest of the world, his mean is how much you can make a day is more important than the exchange rate
everyone knows it takes vietnamese people at least 20 years to buy a car whereas others need only 2 years to buy the same car.
another simple fact: average vietnamese ppl have to work for at least 3 hours a day to buy an average meal. in usa, however u get the wage of 20 usd, which can buy a hamburger and coffee. is it enough?
@@anhtuannguen2229làm ba giờ là khoảng 60k, nấu ăn thì 10-15k 1 bữa th, ăn gì sang dữ v
About a decade ago, my then girlfriend, now wife, went to Vietnam. She was trying to negotiate a lower price for a tour. I was about to say something, but then recognized that it would much wiser to just stay quiet. As we walked away, I asked her why she was trying to negotiate what was the equivalent of 0.50 USD (aka fifty cents, 2 quarters, 5 dimes). Sh elooked at me with wide eyes and started giggling. Said, just let them have the 50 cents. She spent more than 50 cents of my time (based on my salary) trying to bargain them down.
And that’s the reason why everyone stays poor 🙃
Tourists have no idea how small 20k, 10k, 50k is and just try to bargain. How the heck do people bargain from 2usd to 1.5 usd!?? As a tour guide on Vietnam, it cringes me when tourists bargain 2usd in front of me and it is hard to explain them about that.
8:00 problem are most vietnamese consume good are local and not import so weak dong isnt a problem, for philippine it is tho as they import most of the stuff include rice , kinda sad how philippine agri sector was destroy by the elite
yes, you true, we use goods in my coutry, Rice, food, essential goods can all be produced, only the rich use imported goods.
Bro i got the title wrong at first ngl
One person owns a cow (worth $10), and the other person owns a chicken (worth $1). So, do you think the person who owns a cow worth $10 is wealthier than the person with a chicken worth $1, right? Well, no, then you don't understand. The cow owner only possesses 5 cows ($50 in total), while the chicken owner has 1000 chickens ($1000 in total). Now you can see whose household is wealthier. We need to consider the overall economic value, and we cannot use different units for comparison to determine who is wealthier.
The fact that gdp of VN is insanely low compare to the local south east Asia and the population is approximately 100 mil, which mean there are 100 people but only have 90 chicken. Meanwhile in Malaysia 1 people have more than 5 cows. Oh btw, it’s not about the chicken nor a cow, it’s abt the value of your paper, it is worthless like Zimbabwe and the paper not the chicken or the cow it not produce meat. In conclu, your “paper dong” is worthless to trade for anything else even a chicken.
@@user-ic9rh6ly6v You are talking about per capita income, I am talking about currency exchange rates. Can you compare Cambodia's currency to Vietnamese currency? 1 USD = 4000 Cambodian currency. So, is Cambodia richer than Vietnam?
@@ntienbo First of all, you don’t mean anything about the exchange rate since all you talked abt is you have more chicken than someone else’s cows which I assume you mean you have more property than other people and I’m try to point out that you can’t use a chicken nor a cow to represent your curency value, plus you have more population than other people so your property definitely higher for sure and that is not how we compare the economy of a country with the others. Secondly, Cambodia and Laos may have difference type of government than VN but somehow they still have the same in many way of organize, so you should pick some other country from south or from the west like Thailand for fair points.
@@user-ic9rh6ly6v Cambodia is just one example; all Southeast Asian countries have better exchange rates than Vietnam. Therefore, Vietnam is the poorest in Southeast Asia. For instance, in Myanmar, 1 USD equals 4 MYR. I'm not saying that Vietnam has more assets than other countries; what I mean is that the exchange rate doesn't reflect the reality. My point is, as you understand, the Vietnamese currency may have a low value, but the total domestic supply of Vietnamese currency is very high. That's one example.
@@user-ic9rh6ly6v You are probably a poor person. Whether a currency is worthless or not depends on the rate of devaluation over a specific period. The Japanese Yen for example has devalued a lot more than VND in the last 10 years. The Japanese who had exchanged their currency to VND would have kept more of their saving.
Vietnam đang trong giai đoạn có nền kinh tế chú trọng xuất khẩu vì vậy đồng tiền VNĐ có giá trị thấp là một lợi thế, đồng thời chính phủ Vietnam muốn giữ giá của đồng VNĐ ở mức giá trị thấp nhằm mục đích để nó phản ánh Vietnam vẫn còn là một quốc gia kém phát triển hoặc đang phát triển thì sẽ có cơ hội nhận được các ưu đãi về khoản vay với lãi suất thấp của các tổ chức cho vay như WB, ECB,...Trước đây Trung Quốc cũng từng chủ động phá giá đồng Nhân Dân Tệ để hổ trợ xuất khấu, nó đã tạo cho Trung Quốc có một nền kinh tế phát triển nhảy vọt như bây giờ.
Tuyệt vời, Anh ơi.
Nói cách khác là thuận lợi để đi ăn xin ấy hả? 🤣🤣
Nhưng ngược lại bạn nhập khẩu hàng hóa ,dịch vụ , thuê chuyên gia nước ngoài ....sẽ đắt
Những người điều hành rất là khôn...liền.
Dont trust WB or ECB
Fun fact: When the Vietnamese just defeated Japan and gained our short peace and independence, the France and Japan took most of our valuable things, include gold, like lot of golds. So our government have to call out the people, we printed money but with nothing like gold to ensure it, so technically it just a paper, but the people believed in it, they used it to buy and traded, some even gave their valuable things to help ensure the money. Our money survived thanks to our people
You mean thanks to the south Vietnamese sending money home. The communists were broke...
Stop playing the stupid blame game, the VND is low because the communists didn't know how the economy work, they kept printing the money with a naive thought that inflation is the problem of the capitalism 😂😂😂😂
@@hhnguyen1210 And they keep VND at the low price to get advantage on export. So Vietnam GDP growth rate at the high level
@@hhnguyen1210 oh yeah ? Then why most Africa countries followed western and capitalism still poor ? just admit you don't know anything about economy, if a country just keep printing money it will cause inflationary and fall out very quick ? Is Vietnam falling right now ? on the eyes of expert is a no, but on the eyes of some stupid people like you, well, you can imagine about it and wish one day it could happen, but it will never happen XXDDD
Golden Week in 1945, the Vietnamese government collected 370 kg of gold
*Đọc bình luận của nhiều người cứ nghĩ đồng nội tệ Việt Nam đang hơi yếu. Thực tế tôi không nghĩ vậy, người làm video cũng đã chỉ ra lợi thế xuất khẩu, và bất lợi khi nhập khẩu đối với một đồng tiền yếu. Nhưng về bản chất tôi không nghĩ là đồng tiền nước tôi yếu, chính phủ có thể bỏ bớt 3 số 0 ở đằng sau được, nhưng họ không làm thế. Đất nước tôi đang phát triển cực kì mạnh mẽ và người dân cảm thấy đang giàu có và hạnh phúc nếu họ làm việc chăm chỉ trong các nhà máy hay khu công nghiệp.*
Ban suy nghi sai qua nhieu. King te Việt Nam o co noi luc. Tui da chung kien tu 1975 Cho den hien tai. Ban co the se nhin thay $ 1 us se doi duoc 30000 Việt Nam dong Vao Cuoi Nam 2024.
@@phuongchung4112 *bác ảo vừa thôi, không có chuyện đó đâu ạ, những người đứng đầu đất nước họ không có ngố mà để đồng tiền mất giá nhanh vậy được, đọc tin tức nhiều vào ạ 😂😂*
@@phuongchung4112 ko lên 30k thì sao, tao bảo vẫn 24k đấy, nếu 24 k mày gọi tao là bố nhá, nếu lên được 30k tao cho mày 100 tr chơi ko con trai, chắc gì học song cấp 3 chưa mà đi nói chuyện trính trị
Vietnam has controled inflation very well since 2017, even compared to U.S. I have lived in 2 countries, I can tell.
Im Vietnamese... and Im confused with this video 😂😂😂😂
I wish I could see this video earlier because it has applied all things I have learned in macroeconomics (just principle). I love this video so much!!!
The title is missleading .The vietnamese is NOT A WEAK money ,it is exactly the contrary : IN 2013 a viet nam dong : 1 euro = 27000 vnd and now in 2023 ten years later
1 euro = 267000 vnd .
in 10 years the change between vnd and euro remains the same !
so can you still say that vnd is week ????
In the beginning the video said it is not that simple when an American become a millionaire overnight due to the insanely low value of VND to USD, but there is no explanation for this statement in the video. Anyway, the video is very nice
When the money is weak it's good for export but It is bad for import and travel abroad. There's no perfect solution.
They would rather have cheap exports ☕️
If a country enjoys net trade surplus; then a weak currency is good for that country.
yes. That's why as in the video said. It should come with the policy to make it good.
You are correct. We are producers, not retailers.
Viethnam export oriented economy..so it's better to viethnam
as a Vietnamese, we people are so used to the huge number that we forgot about its existence lol
Recently in Vietnam, a person with the highest power in the bank made false invoices to withdraw more than 14 billion dollars of money by appropriating money from idle depositors to get interest. Causes panic Vietnam's international economy is slipping. Caused that bank to go bankrupt and tens of thousands of people cried to get their money back, but the government could only solve 20%.
Stupit comment
Vietnamese Currency is not on a lose, since Vietnam is one of the major exporting countries in Southeast Asia, for its agricultural products and Tax registrations compliance, the DONG is always performing the way it should be, while it preserves its GDP. One of the Cleanest country in the World today due to the discipline of the Vietnamese citizens and its character amongst foreigners who has set foot to their land. Promising Vietnamese people and its economy.
Currencies are like numbers. They don’t really reflect the true value of goods.
25k sounds like a lot in USD but that can barely afford you a bowl of noodle in VN
And what's better, you need like 3 times that amount to afford the same bowl of noodles in the US. Currency is just fiat money, it doesn't have value on its own.
@@dd5083 nếu nhớ không lầm thì 1 tô phở ở mỹ có giá tới 18$ rồi
gấp 8-9 lần việt nam
quan trọng là 1h thằng công nhân làm hãng bên mẽo nó làm 1h là ăn được 2 tô phở. Còn công nhân mình lương một ngày thì ăn được bao nhiêu tô phở mới là vấn đề. Nếu 150k một ngày thì tầm 5 tô thôi. Chưa tính chất lượng thịt nó ra sao. Còn an toàn thực phẩm nữa. Giống như là so sánh cao cấp hơn là công nhân mình làm bao lâu mua được iphone 15 còn công nhân mẽo làm bao lâu mua được iphone 15. Mẽo thì 1 tuần nó mua được. Còn VN mình thì 4 tới 5 tháng. Vậy là biết tiền mình yếu hơn nó và những nước đông nam á xung quanh nhiều rồi
Ah yes the disadvantages is clear. We consumers have to spent lots of money for imported goods, even some basic needs like antibiotics,elec tools,hygiene stuff,etc. It’s just really hard for lower-income( which most of Vietnamese are) to live comfortably
Well, if you are lower-income, chance that you aren’t the people that buy expensive imported drugs anyway.
Là người Việt Nam, tôi thấy thật ấn tượng khi lạm phát kinh khủng và sự phá hoại của ngoại bang nhiều tiền nhưng kinh tế Việt Nam không đến nỗi sụp đổ. Phải nói rằng nhiều nước nếu đứng vào vị trí của Việt Nam khi bị 2/3 cường quốc vả liên tục thì có lẽ đã bẹp dí rồi.
Those were redenominations, not revaluations. In a revaluation the currency's value is raised but no new currency series is issued.
It’s so hurt for Vietnamese manual workers, normal staff. The value of money is lowest but the cost of apartment is highest in the world. The average salary is about 350usd/month but the cost of an apartment is about 70,000 usd 😢😢😢
Đi lấy giá nhà ở nội thành thủ đô so với giá công nhân cơ bản. Học hành kiểu j vậy?
@@U40workoutathome nhà nội thành nào có giá 70k usd? Mày mua giùm tao đi?
@quinguyenmelbourne7680 số ít thôi, trên 60% dân số vẫn nghèo. Người ăn xin, bán vé số khắp nơi. Người yếu thế ko dc bảo vệ. Chênh lệch giàu nghèo ngày càng khủng khiếp.
cry bout it
@@ntgiang0609 thế ở HN lương chỗ nào Bình quân 350$? Mày chỉ dùm t đi?
Will Vietnam's Dong ever rise again? Only viagra will tell...
People usually agree that the Vietnamese dong is very small but it is not weak. Will it become bigger in the future and fully satisfy the Vietnamese who are asking for more? Its hard to tell. Fortunately, due to international exchange, there are other choices in Vietnam nowadays.
While some commenters express satisfaction with their current standard of living, others face financial challenges. There are still pockets of poverty, and some Vietnamese people do choose to seek work abroad for various reasons, not just because they perceive a higher standard of living elsewhere.
It is what it is...
I'm Vietnamese, I'm grateful that I'm not unemployed at this time, in truth, many people in Vietnam are still very miserable with their lives, there's a lot of unemployment and many people don't have enough money to organize events. The traditional holiday we call Tet. Corruption has devastated the country.
Ngụy con vẫn khóc ngày đêm😆@@tinvo5369
@@tinvo5369Ở Việt Nam chết đói thì chỉ có kẻ lười biếng.
@@tinvo5369 Any country has corruption, even developed countries. The only thing we can do is try to reduce it as much as possible. At the moment, the government is really trying to focus on this issue so I expect on better future.
If you look at the ratio of homelessness in Vietnam, it's way lower than in many developed countries. I saw many homeless people sleeping in tents on the street or at public transport stations in France and Germany. I am a Vietnamese living in both countries for a few years. I think the situation in the USA is also similar. And for the homeless here, they almost don't have any chance to make a way back to normal life.
@@phuongnguyen-kn8fy why do you move to developed countries like America? Do you know why so many people are homeless in developed countries?
Our country Vietnam is still poor, we 're efforting day by day. Tks for ur sharing
Imagine a woman married A vietnamese Husband and say
Ive trade my Husband Vietnam Dong to USD
Tôi từng gặp rất nhiều du khách đến Việt Nam bối rối vì họ không thể nhìn nhanh chữ số mệnh giá tiền. Điều đó khá là kỳ lạ đối với tôi. Tôi từng đi nhiều quốc gia ( ex : Korea, France, China, Japan... ) Tôi chưa bao giờ gặp khó khăn khi thanh toán bằng tiền mặt của quốc gia đó. Chỉ cần nhìn lướt qua là có thể phân biệt được mệnh giá ( không dựa vào màu sắc ). Có lẽ do chương trình Môn Toán đào tạo phổ thông suốt 12 năm chăng?
Nhảm. Người ta quen dùng số nhỏ rồi nên khi chuyển qua số lớn thì bối rối là bình thường. Thượng đẳng cái vẹo gì đấy.
Y'all Stop Our Dong is Not SMALL😭😭
it is a bit lower than average by research
As a Vietnamese, this is true aand sellers have to break the price down or too expensive.
the title lmao🤣
Vietnam was in heavy embargo imposed by the US up until 1995. Before that, wars after wars basically destroyed Vietnam economy to the point of having no economy at all. Vietnam has been through:
- Feudal time
- Colonial time & First Indochina War (1858-1954)
- Second Indochina War / Vietnam War (1955-1975)
- Cambodian-Vietnamese War (1977-1991)
- Sino-Vietnamese War & Conflict (1979-1989)
- US sanction (1975-1995)
So, while you can blame it on the domestic policies to a certain extent, you should know that foreign factors actually have a huge impact on Vietnam economy, on why the Dong is so weak.
Wars have torn this country to pieces, exhausting its economy. The country has only had roughly 30 years of peace and free trade. THIRTY. YEARS!
The amount of dongs is killing me 😂😂
Old dongs or new dongs?
Vietnam Dong, Korean Won, Italian Lira (there once was such a currency) are 3 currencies of lowest value, I wonder why they don't just make a new currency replacing existing one with 1000:1 ratio
It bounds to tons of legal issues, and it'll be costly to execute. Printing new paper bills and replacing the old ones will be challenging while it brings very few to none benefits. The biggest benefit I can think of is that the bills look better lol
As a Vietnamese, half of y'all aren't grown up enough.
Kinda agreed this that though, I could sense people getting mildly offended with hearing the fact that Vietnamese currency is not that strong
Bro why do they keep remove every punctuation marks from vietnamese words and laugh about it😂 wtf do "Dong" even mean? Its Đồng😂
@@haahaa2k5 no one knows how to type it, simple answer, they're not going out of their way over a simple matter, stop nit picking like a bigot
@@tartzmir7934 then they are super dumb and so are you.
As a Viet, I found a little funny hearing dong repeatly, however, for a close translation, dong means coin in Vietnamese.
Bruh, it took me off guard at the beginning of this video, wasn’t thinking straight that it’s the Vietnamese dong (currency) we’re talking about, thought it was something else 😂
After the reunification of Vietnam, it's evident that many elements of the old Vietnamese regime continue to exist by resettling abroad, with a notable concentration, particularly in the state of California in the United States. Thanks to your video, I've become aware that these individuals still persist in significant numbers. thanks
The government and people of Vietnam do not want the currency to appreciate while we are still an export surplus country, contributing to the spectacular growth in recent years. We will maintain this until the export incentive is no longer important. Be wise thinkers instead of scoffers. The world ridiculed us in the 20th century but today most of them are speechless and the future is even more so. Americans are proving why they lead the world by accusing us of currency manipulation, while others only know how to mock with a few slang words in English about the Vietnamese local currency.
Packee cope
When the Dong is weak there is sorrow.
do NOT take the title out of context
the secret is the state evaluate the currency, base on the market dynamic, then they make the decision. So we have control over our currency, to suit our people interest.
Its actually true about our currency. I’m Vietnamese myself and I can see why its kinda high. Like, at my school, a bottle of water or just soda cost 10.000 Vietnamese dong. Or in other cases, a meal at a restaurant cost about up to 100k or above. Like its a normal thing to see thousands in our currency. Very normal.
looks at the title
*immediately open comment*
The government is smart.
It forces everyone to buy Vietnamese goods and services as much as possible as it will be cheaper.
They are trash
Lol, we buy chinese stuff.
You has most fk up thinking
@@bahamut149
Low value of Dong will make foreign imports less attractive only of the local products are in competition with the imports.
Economic 101.
@@windsong3wong828 That only work on paper. In reality we bought China stuff. It took 20k and 3 days for a shipment from China to my house. On the other hand, a package from HCM took a week and 40k to get to my house. Furthermore, we don't produce shit, we bought from China and resell it in Viet Nam market. So that logic not work here.
The VND is not performing weaker just because its individual value is less. 1 Baht is equal to 4.16 Yen, does that mean Thailand is 4 times richer than Japan? 1 GBP is equal to 1.26 USD, does that mean the UK is 1.26 times richer than the US?
as Vietnamese , actually i have worked hard since i was 13yo. How money i make, How money i spend to survive . No party, No travel, No luxury . Thats Never enough to save money for what i like . The Government's viewpoint changes contrary to the needs of the people - High inflation is stupidest thing - when i wave 13yo, my family could be full with 10k dong. Nowdays 200k dong is frugally only enough for person per day. STATE 's Corruption though
200k dong a day for 1 person isn't enough ? Did you have 3 meal at Mc'Donald or something ?
@@ahborn6961 for passion ? for Enjoyment ? for save ? for Chilđren. we dont have.
With 500.000 VND, you can live for all week long in Vietnam. Imagining with 20 USD, can you live for more just one day? The value of the money brings is more important than the numbers.
500.000 VND = two days salary
@@luxubulaxaba You're completely wrong. As an expert for Vin, I have the same wage as the others who come from Westerner. The SMIC for a mason is around 350K VND per day, I guess.
@@leduchoan I don't need to know if you are an expert or not, the fact that the most optimistic GDP per capita of Vietnam is around $4163. That is $11 or 279.000 VND per day. 350.000 VND is still far away.
@@luxubulaxabaLiving in a country where the local currency holds more value than the US dollar may seem counterintuitive at first glance, but a closer examination reveals a myriad of factors contributing to this phenomenon. In Vietnam, the Vietnamese đồng has proven its resilience and stability, providing its citizens with a means to sustain themselves for longer periods compared to those reliant solely on the US dollar.
Firstly, the cost of living plays a pivotal role in determining how far one's currency can stretch. In Vietnam, the relatively lower cost of goods and services compared to Western countries allows individuals to afford essential amenities without depleting their financial resources rapidly. From housing to daily necessities, the Vietnamese đồng facilitates a more sustainable lifestyle, enabling individuals to maintain a decent standard of living without undue financial strain.
Additionally, the stability of the Vietnamese đồng contributes to its longevity as a viable currency for daily transactions and savings. Unlike the fluctuating nature of the US dollar, which can be subject to market volatility and external economic factors, the Vietnamese đồng maintains a more consistent value, providing a sense of security and predictability for its users.
Furthermore, the cultural and societal context of Vietnam fosters a mindset of resourcefulness and frugality, further amplifying the purchasing power of the Vietnamese đồng. Practices such as communal living, traditional craftsmanship, and a focus on family-oriented values contribute to a more sustainable and interconnected way of life, wherein individuals can rely on the local currency to meet their needs over an extended period.
In conclusion, while the US dollar may hold prestige on the global stage, the Vietnamese đồng offers its citizens a tangible advantage in terms of longevity and sustainability. Through a combination of factors such as lower living costs, currency stability, and cultural norms, individuals in Vietnam can effectively utilize the Vietnamese đồng to lead fulfilling and secure lives over an extended timeframe.
the title 🤣🤣🤣 i can't
As a Vietnamese, i agree with this :V
As a Vietnamese, i am sad to see our currency is much lower than other countries, even it affects to salary. The Earn is low, but the cost of living is high
Ngu ngốc 🐮🐮 khi đồng tiền thấp hàng hóa khi sản xuất trong nước sẽ rẻ cho người dân và xuất khẩu giá cả sẽ cạnh tranh và lời hơn
Actually i am vietnamse and people don't use like 1 đ they use like 1000đ
Btw it depend on where you are like countryside,3000 vnđ=1 bags of chip .but in city 25000vnđ=1dollars =1 bags of chip
Btw like if you are vietnamse too
Its ok if a currency is weakened to benefit the economy and the economy grows. But in Vietnam's situation, their economy is shrinking as well. This means that the country itself is empty. Growth has been largely due to FDIs and not a real output from the domestic economy. It is a bad sign for Vietnam.
Idk what you're talking about but foreign owned enterprises produce just 20% of the national GDP. State and collective owned enterprises produce nearly 60% of the national GDP while only employing less than a fifth of the national workforce.
@@davidstrelec2000 Theres alot you don't know.
@@marvelcomiks8078 pls, could u share just a little bit about it, im so curious, cuz Vietnam's growth rate in recently years is quite impressive!
@@marvelcomiks8078
If you claim there's a lot Idk... please enlighten me. Point out specific details I got wrong or I am unaware of...
Agree
It’s average size, infact some might say it have a good personality
The low capitalism gain of communist national is why currency are weak, but reflect the state of Vietnamese, mainly sufficient in economic and living support means, no or low foreign debts or never lose control economic as capitalism nations. But the side effects of communist nations, hard to do business when governments are active prevent any companies become too big and harmful social well fare of nations, in short all Vietnamese have living wages as long they have stable jobs with government. When in capitalism nation always increases cost to earning more money, if do not calculate well, capitalism destroyed the market and salaries of people itself. The weak of đồng, do not count on foreign trading the final prices of products on international market, meaning Vietnamese companies can become very richer very easily, this is the same with China, low living cost, higher quality labors, maximum interest gains, on top of social well-being.
Wrong! The Vietnamese Dong has low value per unit is because of the vey high rate of inflation before Doi Moi. Vietnamese govt used to be cut 0s from its money unit until 1 day VN Govt decided that the number in money is not a problem but the economy strength. So they stopped removing 0s from the money unit value since that day.
The name "Dong" originated in the French colonial period. Since then, the currency always made of bronze(dong). Although when we were independent and eliminated the bronze and replace the paper, we still keep this name. And bronze in Vietnamese written " đồng". So please, don t joke about that.
i don’t know about other vnese dong, but mine is pretty strong
Im a native myself and i had to double check to see if the video is real dear lord
Tôi không hiểu văn hoá mạng như thế nào , nước chúng tôi khác với hầu hết các quốc gia trên thế giới khi mà gần như xuyên suốt lịch sử hình thành toàn chiến tranh , chúng tôi mới hoà bình được 30 năm và bị Mỹ cấm vận nước tôi 30 năm trước là nước nghèo và tệ nạn nhất thế giới , chúng toii được ăn no đủ đầy là cả 1 quá trình nghìn năm đấu tranh , tôi đọc thật buồn ,nước tôi đã quá khổ rồi , tiền của chúng tôi mất giá đâu phải lỗi chúng tôi ? Hãy nói với những nước đã gây ra chiến tranh và cấm vận ấy , chúng tôi đã bỏ qua cho họ rồi ,mặc cho "đồng " có mất giá rất nhiều và ảnh hưởng đến gdp có sự chênh lệch rất lớn so với USD và thiệt hơn các nước láng giềng .Nhưng tôi có thể tự hào rằng Nhà nước chúng tôi luôn quan tâm đến dân , 30 năm trước người nghèo là nước nghèo nhất thế giới và giwof chỉ còn 1-1,5%, tôi tự hào nước tôi đáng sống hơn bất kì quốc gia nào khác , tôi khẳng định , tôi hạnh phúc khi sinh ra lớn lên tại đây .❤❤❤ Mãi yêu tổ quốc ❤
Nhìn cộng sản làm đi. Chứ nghe họ nói làm gì.
tôi ở đây cùng bạn .
Đất nước thống nhất từ 1975, nghĩa là gần 50 năm rồi, những cuộc chiến tranh kia không xâm phạm vào biên giới, nhà máy, đồn điền và con người không bị chia cắt,...Một lũ cán bộ "ĂN KHÔNG CHỪA CỦA DÂN MỘT THỨ GÌ" gây nên viễn cảnh tồi tệ này
@@hdsmsmart thống nhất ??? Bn nghĩ v à sau đs là vs trung quốc và Khmer , cấm vận , khủng hoảng...
@@TheTienNguyen-io6eo mik đx tìm hiểu là ng nhân chủ yếu tới q lí yếu kém và độ cấm vận ,khủng hoảng xã hội
vietnamese never use "dong", they use "k" meaning 1000dong, so that the lowest value you can pay is 1k (in theory). in HCM city, the lowest price you can see is 10k that mean a half of 1 dollar. people usually by food for 30-40k and average salary is 25m-50m per month (1000-2000usd). you think dong is weak? nah, that is trick that we can bait the west buy our goods because they think it cheap.
I like the current value of Vietnamese currency. It has low value, but it is beneficial for trade transactions between Vietnam and other countries. Many financial institutions want the Vietnamese Government to change the value of Vietnamese currency but that is not necessary. After all, every currency, whether high or low value, must be converted into gold.
Yeah, and the exchange rate between gold and Vietnamese Dong rise and fall significantly just the last few months haha.
There is no shy to hear Vietnamese Dong being weak. Listening other people explain our weakness and then improve is more important
Yup, you have to trade it in the country if you replace it with other curency the police will arrest you. It’s abt the obligatory, if not nobody want those worthless paper even the Vietnamese themselves. Sorry for truth.
Vietnam is in a phase of growth. His economy is export-oriented. So I think it's better to keep his currency deep now.
As a Vietnamese person, the daily struggle for each individual in Vietnam is not solely about the strength or weakness of the dong currency compared to other currencies. The issue lies in the fact that the average hourly wage for Vietnamese laborers is only about $1. Most people have to endure hardship in both living and working conditions due to the meager salaries provided by the Vietnamese communist regime.
While Communist Party members in Vietnam constitute only 5% of the population, they amass wealth through the exploitation of the remaining 95% of the Vietnamese people.
Sang nước khác mà ở, VN nghèo khổ để bọn tao chịu
3 que nói láo vừa chứ để người ta còn tin.
@@manhhoang887 are you called BACKY?
Giàu nghèo tiền có mang theo được đâu,,đủ ăn đủ sống, sống trên đất quê hương, chết có mộ đất ở quê hương là hạnh phúc hơn ối người rồi
tôi ở tây nguyên sao tôi lại thây sống sướng thế. bạn chắc là thành phần đấu tranh cho dân chủ phải không? ở Việt Nam giàu hay nghèo do cái đầu với sự chăm chỉ chứ có liên quan đến đảng cộng sản luôn hả? đã nghèo nhưng lại u mê thích đổ lỗi cho chính quyền bảo sao vẫn mãi nghèo. chửi tôi là bắc kỳ đi. bạn là hậu duệ của lính nguỵ đúng ko?
When i first came here 17yrs ago it was crazy. I put a bucket of money in my local bank and got 14% interest. Properties were bought in gold. If a property was 100 taels of gold you would go to your bank and buy the gold and put it in your bag. They were halicon days for foreigners. Western banks were paying about 3% and we were getting 14% we were all living off our interest like kings. And your bank would ring you for your birthday and give you a present and Christmas also...growing old disgracefully in Vietnam.
how is most of the comments here literally degrading asian countries??
It is not degrading but fact
@quinguyenmelbourne7680 you should also not ignore the fact that there are countless of homeless in cities in Vietnam. Vietnam's economy is strong or not shouldnt reflect on rich people but how much of wealth a Vietnamese have.
@@Teochewtuahang yeah, homeless not so much. Vietnam is just a normal country, saying it is rich is wrong, saying it is poor is also wrong
Not asian countries, but rather socialist/communist countries. This is due to the misinformation from the Western propaganda which trick the majority of people to hate on countries like Vietnam unfairly.
@@truyennhancuahitler nah vietnam is poor. If youre talking about rich people, it's mostly only people who have connections to the government.
You named the title purposely didn't you
Vietnam meanwhile: *PROCEED TO EXPORT MORE WHILE EVERYONE STILL TRY TO THINK WHY VIETNAMESE DONG SO WEAK*
In Vietnam, the average salary of state civil servants is about 8-10 million VND a month (about more than 320 dollars), the lowest is about 3.6 million VND (about 150 dollars) and the highest is about 900 dollars. But they all build multi-million dollar mansions, you know ? 😅
họ cũng ko bt rằng dân VN cực kì thích độ kị =))))))) chắc công chức chỉ dc phép nghèo thôi.
Và Tôi cũng không thấy vị quan chức ở nước tư bản nào nghèo, con cháu họ cũng vậy. Họ đều là người giàu có trong khi lương của họ không nhiều😂
?? Mới có 5tr thôi mà 8 10 ở đâu ra
I swear most vietnamese in the comment section will get mildly offended and go passive defensive simply because of the fact that statistically speaking, the Dong doesn't fare that well because of very ludicrious blunders in economic decision making from the Vietnamese government, and when things go south, they will just print more money to stimulate short term stability, however the Vietnamese Gov forgot one word that's called "moderation" so that's why our currency is so weak now.
Too late its $1=25000₫ now
good thing or bad thing???
điều đó tốt hay xấu ???
Lạm phát vẫn tăng nhưng lại ít hơn các nước khác nhiều. Nếu năm nay xuất khẩu không gặp vấn đề gì thì tốt. Việc kinh doanh nhỏ, ngành dịch vụ mua sắm có thể chịu thêm 1 năm nặng nề nữa do lạm phát trên toàn thế giới + một phần do người Việt hiện đang tích trữ nữa. Về kinh tế vĩ mô thì có lợi cho VN, bđs dù đang ở giá cao nhưng vẫn sẽ tiếp tục tăng thêm
Got into this video just to check the comment section 🤣
Same Vietnamese toxic top 1st world
Why is the word dong so funny. Man i have a brain of a child 😂
It mean "copper" in Vietnamese.
@@Vantud391
Đồng's meanings:
Copper
Same
Clock (Đồng hồ)
Field (Cánh đồng)
Money (Đồng tiền)
.... those are what I could come up
It actually written as "đồng" in Vietnamese.
The "dong" that most foreigners usually speak and know about is lack of our diacritics thus it ended up being something they found as funny.
Ding dong
@@thearajin đồng(銅or铜) mean copper , đồng hồ (铜壶),cánh đồng(梗垌).. 😂😂..
Chúng tôi định hướng là nước sản xuất và xuất khẩu nên tận dụng tiền thấp.. Khi hàng hóa sản xuất trong nước người dân sẽ được sử dụng giá rẻ hơn và khi xuất khẩu giá sẽ cạnh tranh và sinh lợi nhuận lớn hơn đối thủ
Why did they name it 'Dong'? I almost messed up the class because I laughed so lot💀
I know that some words maybe funny in different languages so i'm not offended by it :)))
Btw, "Dong" meaning "copper" in Vietnamese due to we used coins made of copper in the past (we are now using money made of polymer paper and normal paper instead of copper)
Well for Vietnamese, 'Dong' also means 'Copper'. But based on chemistry Copper is abbreviated as 'Cu' and in Vietnamese "cu" is a p@nis 💀.
@@PhucNe23it all circles back in itself 😂😂
đồng(銅or铜) mean copper , đồng hồ (铜壶)mean clock,cánh đồng(梗垌)mean field.. 😂😂
I was longing for the phrase Purchasing power parity but it did not appear.