Vietnamese Dong | VND | Vietnam currency notes
Vietnamese dong Currency:
Since May 3, 1978 Vietnamese dong is the official currency of Vietnam, although it arrived in different times to North Vietnam and South Vietnam, before the unification of the country. Dong was subdivided into 10 hao, which were further subdivided into 10 xu, neither of which is now used. The government of North Vietnam introduced the dong in 1946, to replace the French Indochinese piastre. Two revaluations followed, in 1951 and 1958; the first was at a rate of 100:1, the second at a rate of 1,000:1.
In 1953, banknotes of piastras and dongs were printed for the State of Vietnam, which evolved into South Vietnam in 1954. On the 22nd September 1975, after the fall of Saigon, the currency of this region was changed to a "liberation dong". On May 3, 1978, after reunification of Vietnam the dong was also unified. 1 new dong = 1 Northern dong or 0.8 Southern "liberation" dong. The dong was revalued, with the new dong equaling 10 old dongs on September 14, 1985. This event caused a cycle of inflation that would continue until the mid-nineties through much of the early 1990s.
In 1978, the State Bank of Vietnam first introduced bank notes in denominations of 5 hao, 1, 5, 10, 20, and 50 dong, dated 1976. Up today, State Bank of Vietnam introduced the five series of banknotes. Regarding currencies, in 1978 there were aluminum coins which were introduced in denominations of 1, 2 and 5 hao, dated from 1976. As a consequence of inflation, these coins lost all their relevant value and no coins circulated for many years after this series.The National Bank of Vietnam issued a new series of currencies on the 17th December 2003.
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Vietnamese Dong (Vietnam):
1/100 = xu
(Both subunits have been unused in Vietnam for several years)
1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, 500,000₫, 100, 200, 500₫
200, 500, 1000, 2000, 5000₫ (no longer minted or in active use; still legal tender)
Central bank :
State Bank of Vietnam