Vietnam has, for long, been directly affected by the US inflation rates. However, thanks to the economic growth in Vietnam the Vietnamese Dong has continued to rise in value. Today, Vietnam is one of the fastest growing countries in Asia; its growth rate is unparalleled in the continent.

The Dong has been through very tough conditions; it survived severe political instability and various downturns in the economy. Nevertheless, since the economy has turned around for a very bright future and is showing a positive growth trend, now is a good time to invest in the Vietnamese Dong.

There are chances of the Vietnamese Dong getting revalued in the near future. When this happens, the Dong is likely to rise to a value much higher than it is now.

Reasons for Resetting of Vietnamese Dong

As the economy of Vietnam continues to grow, it has attracted foreign investors from various countries into Vietnam. These investors bring in foreign currencies to the country and thus build up on the Vietnam’s foreign exchange reserves. As the foreign exchange reserves increase, there is less demand for foreign currency and its value decreases and consequently, the value of the local currency rises.

In the past, the Vietnamese Dong was devalued by the IMF by placing trade sanctions on the country. With the low value of local currency, most businesses turned to use the Dollar as their base currency for carrying out most of their business activities.

However, when the sanctions were lifted, the Vietnamese economy bounced back rather quickly and soon became one of the top growing economies in Asia.

From Communist to Capitalist Economy

Vietnam made a transition from being a communist economy to a capitalist economy. During the 80s, Vietnam was considered to be one of the poorest countries in the world. However, nowadays, it is common to see large corporate buildings, heavy traffic and modern franchises in various cities. The developments that have occurred over a period of thirty years in the country are amazing. The funds from exports and foreign investment flowing into the country are so great that even global recession had little effect on Vietnam’s economy.

The rapidly growing Economy

Vietnam is one of the fastest growing economies in Asia. It has a very good Debt to GDP ratio and is on its way to become a self-sustaining economy. With this rapid growth rate, the Vietnamese Dong will soon reset itself and achieve its true value in the near future.

About Buy VND

Buy VND is a registered online currency provider for Vietnamese Dong. They provide notes at wholesale prices. The company offers currency notes, coins and stamps.