Why is Vietnam's Dong so Weak?
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- čas přidán 28. 05. 2024
- The Vietnamese Dong has often been the center of debate due to its high exchange rate, but is it really that bad?
Narrated by Tom McKay
Video Edited by Iyanbriandi
Inquiries: behindasian@gmail.com
Brought to you by the Behind Asian Team.
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
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 😂
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
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.
@@TruongPhamVN2402 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 =)))
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. 😅
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
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?
@@Tangomangle351to 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.
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 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!!!
Thank you for the interesting information❤
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😂
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.
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.
Very good!
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).
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.
Great content. I haven't known that much about my country. Thank you for the insight.
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.
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.
"a weaker dong can attract more foreign tourists and investors"
*cyberpunk 2077 meme song played*
As a Vietnamese, hearing you say dong still make me crack a smile
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.
Vietnam's Dong might be weak but it has great personality, though.
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.
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.
that title is insane
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?
this is so true fr fr 🔥🔥🔥
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.
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?
@@kenshinhimura5965 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?
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.
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
the title lmao🤣
Simply put, weak currencies are not always bad. Whether a country is poor or rich should not be valued based on its monetary value.
So what is good??
Copium
@@nhatuphong1579 dm nó giải thích trên vd r mà
@@shadowblitzo123 Don't you see the words "Speak simply"? Or you're blind. What did I copy?
@@nhatuphong1579. Hãy cầm một triệu VNĐ sang Mỹ mua đồ ăn xem bạn sống được 2 ngày không. Còn ở VN thì chắc chắn sống được nửa tháng.😂
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.
As a Vietnamese, this is true aand sellers have to break the price down or too expensive.
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.
@@mihleo6391 người ta nói đúng rồi đấy. năm nào việt nam chẳng xuất siêu kể từ 2015. mà đã xuất siêu thì bao giờ việt nam cx dư ra ngoại tệ để mua các mặt hàng thiết yếu bắt buộc phải nhập từ bên ngoài như xăng dầu, thuốc, đồ xa xỉ, linh kiện điện tử,... trong khi đó, để kích thích các ngành sản xuất trong nước thì các mặt hàng cùng loại từ nước ngoài bao giờ nhập vào cx bị đánh thuế và ví dụ điển hình là ô tô
@@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
the title 🤣🤣🤣 i can't
as a Vietnamese, we people are so used to the huge number that we forgot about its existence lol
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.
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%.
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.
glad to hear..
I was longing for the phrase Purchasing power parity but it did not appear.
Bro i got the title wrong at first ngl
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 ????
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.
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.
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
Hello admin, I want to make an English voice like the channel, which website should I choose the voice from? To avoid monetization from CZcams. Thank you
Purchasing power is more important how much one unit of the local currency compared to the Dollar.
You can buy a beer for 75c in Vietnam
The amount of dongs is killing me 😂😂
Old dongs or new dongs?
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 😂
it does not depend on the exchange rate, in simple terms, let's say 1 Lao dollar is equal to 1 US dollar and 4 VND is equal to 1 US dollar. But every month in Laos, you receive a salary of 5 Lao dollars and in Vietnam you receive 150 VND, which one will you choose?
Vietnam has controled inflation very well since 2017, even compared to U.S. I have lived in 2 countries, I can tell.
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.
Y'all Stop Our Dong is Not SMALL😭😭
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
Our country Vietnam is still poor, we 're efforting day by day. Tks for ur sharing
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
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
Vietnam is in a phase of growth. His economy is export-oriented. So I think it's better to keep his currency deep now.
Ah yes, suffering
My class favorite joke when talking new electronics like laptops and phones: "I'm too poor"
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.
When the Dong is weak there is sorrow.
do NOT take the title out of context
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.
In theory, weak currency sounds good from export, tourism and foreign investment perspective. However, in practise, I have yet to see any significant positive impact from this. Vietnam's currency remain weak compare to US dollars and continue it's downfalls.
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.
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
*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
Can’t stop laughing…. Tell me about the old dong again😂😂😂😂
as a vietnamese, i read the title horribly wrong 💀💀💀💀
i don’t know about other vnese dong, but mine is pretty strong
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.
looks at the title
*immediately open comment*
As a Vietnamese, i agree with this :V
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).. 😂😂..
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.
We like to see big numbers
As a Viet, I found a little funny hearing dong repeatly, however, for a close translation, dong means coin in Vietnamese.
Is it on purpose that you don't have digraph and diacritic on the word đồng?
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
It is wrong about the diaadvantages of import cost.
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
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.
Lạm phát cao mới đáng sợ. Muốn không thấp thì bỏ 3 con số 0 phía sau là được. Nhưng mà tốn thời gian , tốn sức , tốn của ….. nhìn vào Venezuela đi . Cắt bỏ 10 số 0 thì giá trị đồng tiền của nó cũng thế . Kinh tế mạnh thì đồng tiền nó mạnh. Hiện tại 1$ = 35,69bath thái, 1$= 147,89¥ Nhật , ai dám mạnh miệng nền kinh tế thái lớn hơn nhật không?
0:51 thats right, currency is not about those zero number... same as rupiah.
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.
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.. 😂😂
if we write English reading of dong, it would be Đoong, the -ông pronunciation have no English equivalent, maybe like French -on? like hon hon hon?
I’m Vietnamese. I think Vietnam will release 1,000,000 VND bill soon 😢
Remember long time ago 1usd=10000vnd and you can see how VND loose value over the year. Interest rate in VN is very high and government strictly control money going overseas.
Im Vietnamese... and Im confused with this video 😂😂😂😂
I mean it's average size dong 😔
My Indian dong size is 8
Người nước ngoài tiêu tiền đô ở VN thì sướng như vua vì tỷ giá chênh lệch lớn , nhưng dân trong nước thì đắt đỏ vô cùng so với thu nhập
Its social media where everybody can become an expert ☝🤓
Their banks having some issues now...
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.