Has the Vietnam Dong Revalued?People are always asking if the Vietnam Dong has revalued. We like to tell them yes, it's revaluing every second of every day. We say this in jest, but it is true.
The world's currency markets are never closed. As soon as a currency market in the USA is shutting down, another in Japan, or Australia is opening up so currency markets never really stop. Currencies are changing value all day everyday.
So when someone asks, has such and such currency revalued? The answer is yes it just did. That's not what most people are meaning however. The idea of a currency revalue or a "global currency reset" as some call it is the idea that in the blink of an eye a currency will increase dramatically in value.
Though people claim that Germany, Kuwait, Romania, and others have experienced this, we can't find any hard facts to really back this theory up.
When people ask if the Vietnam Dong has revalued, they tend to be wanting to know if it has greatly increased in value. The Dong does sometimes swing pretty wildly in value, but because you get so much Dong in relation to the Dollar the actual change in value in US Dollars is pretty miniscule. Unless your buying tens or even hundreds of thousands of Dollars worth of Dong, its not going to greatly affect the value for people holding a few million.
If you're interested in reading more about currency revalues checkout this interesting article we did back in 2014 about whether or not the Vietnam Dong had revalued.