What is the currency of Vietnam?
"USD = 22,769 VND)"" Vietnam has two stock trading centers, the Ho Chi Minh City Securities Trading Center and the Hanoi Securities Trading Center, which run the Ho Chi Minh Stock Exchange (HOSE) and the Hanoi Stock Exchange (HNX), respectively. Vietnam's currency is the Vietnamese đồng. The exchange rate between the U.S. dollar and the Vietnamese đồng is important because the dong, although not freely convertible, is loosely pegged to the dollar through an arrangement known as a ""crawling peg"". This mechanism allows the dollar–dong exchange rate to adjust gradually to changing market conditions. As of December 5, 2018, a"
"Vietnamese đồng The đồng (; ; sign: ₫; code: VND) has been the currency of Vietnam since May 3, 1978. Issued by the State Bank of Vietnam, it is represented by the symbol ""₫"". Formerly, it was subdivided into 10 ""hào"", which were further subdivided into 10 ""xu"", neither of which are now used. Since 2012 the use of coins has decreased greatly, and since 2014 coins are generally not accepted in retail, but will still be accepted in some, but not all, banks. The word đồng is from the term ""đồng tiền"" (""money""), a loanword from the Chinese ""tóng"
"least valued currency unit after the Iranian rial as of 28 November 2014. Since 19 June 2014, the Vietnamese dong has been devalued a total of five times in an effort to help spur exports and to ensure the stability of the currency. ""(Sources: tradingeconomics.com, imf.org)"" Vietnamese đồng The đồng (; ; sign: ₫; code: VND) has been the currency of Vietnam since May 3, 1978. Issued by the State Bank of Vietnam, it is represented by the symbol ""₫"". Formerly, it was subdivided into 10 ""hào"", which were further subdivided into 10 ""xu"", neither of which are now used."
"Vietnamese cash Vietnamese cash ( ; chữ Nôm: ; ) is a cast round coin with a square hole that was an official currency of Vietnam from the Đinh dynasty in 970 until the Nguyễn dynasty in 1945, and remained in circulation in North Vietnam until 1948. The same type of currency circulated in China, Japan, Korea, and Ryūkyū for centuries. Though the majority of Vietnamese cash coins throughout history were copper coins, lead, iron (from 1528) and zinc (from 1740) coins also circulated alongside them often at fluctuating rates (with 1 copper cash being worth 10 zinc cash in"
"Vietnamese currency were ""quan"" (貫, ""quán""), ""tiền"", and ""đồng"". One ""quan"" was 10 ""tiền"", and one ""tiền"" was between 50 and 100 ""đồng"", depending on the time period. Under French colonial rule, Vietnam used the units ""hào"", ""xu"", ""chinh"", and ""cắc"". After independence, Vietnam used ""đồng"", ""hào"", and ""xu"", with 1 ""đồng"" equaling 10 ""hào"" or 100 ""xu"". After the Vietnam War, chronic inflation caused both subdivisions to fall out of use, leaving ""đồng"" as the only unit of currency. However, Overseas Vietnamese communities continue to use ""hào"" and ""xu"" to refer to the tenth and hundredth denominations, respectively, of"
"US dollar is worth 23,256 Vietnamese đồng. Gold still maintains its position as a physical currency to a certain extent, although it has seen its economic role declining in recent years. Vietnam's economy experienced a hyperinflation period in its early years of the extensive reform program, especially from 1987 to 1992. In 2008, inflation was tracking at 20.3% for the first half of the year, higher than the 3.4% in 2000, but down significantly from 160% in 1988. In 2010, inflation stood at 11.5%, and 18.58% in 2011. At the end of 2012, inflation stood at 7.5%, a substantial decrease"
"and 1000 đồng, with 5000 đồng notes added in 1953. These were the only circulating currency between 1951 and 1958. In 1958, the National Bank introduced notes for 1 xu, 1, 2 and 5 hào, 1, 2, 5 and 10 đồng, with the 1 xu notes an overprint on an earlier, unissued type of 10 đồng note. In 1964, the State Bank of Vietnam (""Ngân hàng Nhà nước Việt Nam"") introduced 2 xu notes, followed by 5 xu, 1 and 2 hào in 1975. North Vietnamese đồng The đồng (; ) was the currency of North Vietnam from 3 November"
"as a qualifier. This practice is more common for more esoteric units of currency. In present-day Vietnam, ""một ngàn"" / ""một nghìn"" (one thousand) is widely understood as one thousand đồng. After the revaluation of the Zimbabwean dollar on 1 August 2006, the đồng became the least valued currency unit for months. Around 21 March 2007, the revalued Zimbabwean dollar regained least valued currency status (in terms of black market exchange rate), and on 7 September 2007 in terms of official exchange rate. After the use of the Zimbabwean dollar ceased on 12 April 2009, the đồng was the second"
"of the ""Ngân-Hàng Việt-Nam"" (Bank of Vietnam). The 2 xu coin was dated 1975. The 1 and 5 xu were not dated but Krause & Mishler date them to 1976. The ""Ngân-Hàng Việt-Nam"" (Bank of Vietnam) issued notes in denominations of 10, 20 and 50 xu, 1, 2, 5, 10 and 50 đồng. The notes were dated 1966. South Vietnamese đồng The đồng () was the currency of the Republic of Vietnam (South Vietnam) from 1953 to 2 May 1978. It was subdivided into 100 ""xu"", also written ""su"". In 1953, the Vietnam branch of the ""Institut d'Emission des Etats"
"in 1997. After the Democratic Republic of Vietnam declared their independence in 1945 they began issuing their own money, but cash coins continued to circulate in the remote areas of Bắc Bộ and Trung Bộ where there was a lack of xu, hào, and đồng coins for the population. The Democratic Republic of Viet Nam Decree 51/SL of January 6, 1947 officially set the exchange rate at 20 Vietnamese cash coins for 1 North Vietnamese đồng making them equal to 5 xu each. Vietnamese cash coins continued to officially circulate in the Democratic Republic of Vietnam until April 13, 1948."
"(English ""th"" in ""this""). Eth (ð) is more commonly used for this purpose, but the crossed ""d"" has the advantage of being able to be typed on a standard typewriter, by overlaying a hyphen over a ""d"". A minuscule form of the letter, đ, is the symbol of the đồng, the currency of Vietnam, by a 1953 decree by Ho Chi Minh. The South Vietnamese đồng, on the other hand, was symbolized ""Đ."", in majuscule. In Unicode, the Vietnamese đồng symbol is properly represented by , but is often used instead. In Vietnamese, the đồng sign is written after the"
"denominations of up to 10 tiền being minted. These coins continued to be minted in varying quantities into the 20th century in French Indochina, although circulating alongside the French Indochinese piastre. Tiền The tiền (Hán tự: ) was a currency used in Vietnam during the 19th and 20th centuries. The name is a cognate with the Chinese ""qián"" (錢), a unit of weight called ""mace"" in English. In the early 19th century, silver and gold bars were traded as currency in imperial Vietnam with values of up to 10 tiền (approximately 40 grams, or 1 tael). Bars of 1 tiền"
"foreign banks are balancing their strong interest in serving multinationals in Vietnam and frustration with continuing restrictions on their activities. Although Vietnam is a cash-based society, there were 12,811 automated teller machines (ATMs) as of January 2012, and 40 million ATM Cards in circulation. Foreign investment limit into national banks of Vietnam is currently set to 30 percent. The government is working on a law that would include this FDI cap. Vietnam's top 5 banks by registered capital (as of May 2013, USD/VND exchange rate = 21,000 VND) Banking in Vietnam Following its reorganization in 1976, the State Bank of"
"South Vietnamese đồng The đồng () was the currency of the Republic of Vietnam (South Vietnam) from 1953 to 2 May 1978. It was subdivided into 100 ""xu"", also written ""su"". In 1953, the Vietnam branch of the ""Institut d'Emission des Etats du Cambodge, du Laos et du Vietnam"" issued notes dual denominated in piastre and đồng. At the same time, the two other branches of the Bank made similar issues with the riel in Cambodia and the kip in Laos. The đồng circulated in those parts of Vietnam not under the control of the Communist forces, which by 1954"
"victory. Following the defeat of South Vietnam by North Vietnamese forces, the first đồng was replaced by a new currency, known as the ""liberation đồng"", at a rate of 1 liberation đồng = 500 first đồng on September 22, 1975. The liberation đồng circulated until May 2, 1978, when the two Vietnamese currencies merged and the liberation đồng was replaced by the new Vietnamese đồng at a rate of 1 new đồng = 0.8 liberation đồng. Coins were issued in denominations of 1, 2 and 5 xu. All were holed coins struck in aluminium and were issued in the name"
"the currency of the newly recognized state of North Vietnam, with an exchange rate to the still circulating piastre and South Vietnamese đồng of 32 northern đồng = 1 piastre or southern đồng. In 1956, the đồng was pegged to the Chinese renminbi yuan at a rate of 1.47 đồng = 1 yuan. On 28 February 1959, another đồng replaced the second at a rate of 1 1959 đồng = 1000 1951 đồng. An exchange rate with the Soviet ruble was established in 1961, with 3.27 đồng = 1 ruble. On May 3, 1978, following the unification of Vietnam, the"
"was unknown belong to the state. Notable recent large finds of cash coins in Vietnam include 100 kilogrammes of Chinese cash coins and 35 kilogrammes of Vietnamese cash coins being unearthed in the province of Quảng Trị in 2007, 52.9 kilogrammes of Chinese and Vietnamese cash coins being unearthed in a cemetery in Haiphong in 2008, 50 kilogrammes of cash coins in the province of Hà Nam in 2015, and some Nagasaki trade coins in the province of Hà Tĩnh in 2018. Vietnamese cash Vietnamese cash ( ; chữ Nôm: ; ) is a cast round coin with a square"
"silver, and gold have been issued since 1986, but none of these have ever been used in circulation. The State Bank of Vietnam resumed issuing coins on December 17, 2003. The new coins, minted by the Mint of Finland, were in denominations of 200, 500, 1,000, 2,000, and 5,000 đồng in either nickel-clad steel or brass-clad steel. Prior to its reintroduction, Vietnamese consumers had to exchange banknotes for tokens with a clerk before purchasing goods from vending machines. This was also to help the state ease the cost of producing large quantities of small denomination banknotes which tended to wear"
"100:1, the second at a rate of 1,000:1. <nowiki> </nowiki> Notes dually denominated in piastres and đồng were issued in 1953 for the State of Vietnam, which evolved into South Vietnam in 1954. On September 22, 1975, after the fall of Saigon, the currency in South Vietnam was changed to a ""liberation đồng<nowiki>""</nowiki> worth 500 old Southern đồng. After Vietnam was reunified, the đồng was also unified, on May 3, 1978. One new đồng equalled one Northern đồng or 0.8 Southern ""liberation"" đồng. On September 14, 1985, the đồng was revalued, with the new đồng worth 10 old đồng. This"
"Tiền The tiền (Hán tự: ) was a currency used in Vietnam during the 19th and 20th centuries. The name is a cognate with the Chinese ""qián"" (錢), a unit of weight called ""mace"" in English. In the early 19th century, silver and gold bars were traded as currency in imperial Vietnam with values of up to 10 tiền (approximately 40 grams, or 1 tael). Bars of 1 tiền weighed between 3 and 4 grams. During this time, silver and gold coins were minted (using Vietnamese characters and design, but of types resembling either Chinese cash or Western coins) with"
"North Vietnamese đồng The đồng (; ) was the currency of North Vietnam from 3 November 1946 to 2 May 1978. It was subdivided into 10 ""hào"", each itself divided into 10 ""xu"". The first đồng issued by the communists controlling northern Vietnam was introduced on January 31, 1946, and replaced the French Indochinese piastre at par. Two revaluations followed. In 1951, the second đồng was introduced at a rate of 1 1951 đồng = 100 1946 đồng. However, some sources say there were two consecutive revaluations in 1951 and 1953, each with factor of 10. In 1954, this became"
"a foreign currency, such as ""xu"" for the American cent. Vietnamese units of measurement Vietnamese units of measurement () are the largely decimal units of measurement traditionally used in Vietnam until metrication. The base unit of length is the ""thước"" (chữ Nôm: 𡱩; lit. ""ruler"") or ""xích"" (). Some of the traditional unit names have been repurposed for metric units, such as ""thước"" for the metre, while other traditional names remain in translations of imperial units, such as ""dặm Anh"" for the English mile. Originally, many ""thước"" of varying lengths were in use in Vietnam, each used for different purposes."
"45% to 50-60%. GDP of the North and South Vietnam (unit: billion USD, 2015 price). GDP per capita of the North and South Vietnam (unit: USD) Pre-1965 period saw a rather rapid GDP growth rate of the South Vietnam's economy, accompanied by a reasonable CPI rise. The state budget of the Republic of Vietnam enjoyed a surplus in the early stage but soon turned into deficit from 1961. Investment remained strong, industry and agriculture generally retained a high growth rate. In 1955, the government of Ngô Đình Diệm founded the National Bank, Foreign Exchange Bureau, issued new currency replacing French"
"down to 4-5% growth ""per annum"", its economy began to recover in 1999, with growth at an annual rate of around 7% from 2000 to 2005 and making the country as one of the world's fastest growing economies. According to General Statistics Office of Vietnam (GSO), growth remained strong even in the face of the late-2000s global recession, holding at 6.8% in 2010, although Vietnam's year-on-year inflation rate hit 11.8% in December 2010 with the country currency, the Vietnamese đồng are being devalued three times. Deep poverty which defined as the percentage of the population living on less than $1"
"State Bank of Vietnam The State Bank of Vietnam () is the central bank of Vietnam. It currently holds an about 65% stake of VietinBank - the country's largest listed bank by capital. When Indochina was under French rule, the colonial government governed the Indochinese monetary system through Indochinese Bank, which also acted as a commercial bank in French Indochina. After the August Revolution in 1945, the government of the Democratic Republic of Vietnam gradually attempted to exercise a monetary system independent from France. On 6 May 1951, president Hồ Chí Minh signed decree 15/SL on establishment of National Bank"
"coincided with South Vietnam. Coins denominated in su were also introduced in 1953. In 1955, an independent issue of đồng banknotes was produced by the National Bank of Vietnam. In 1953, 10, 20 and 50 su coins were introduced. In 1960, 1 đồng were added, followed by 10 đồng in 1964, 5 đồng in 1966 and 20 đồng in 1968. 50 đồng were minted dated 1975 but they were never shipped to Vietnam due to the fall of the South Vietnamese government. It is reported that all but a few examples were ""disposed of as scrap metal"" and the coin"
"VND Index VND Index also known as the Trade Weighted Vietnam Dong Index, is a measure of the value of the Vietnam Dong (VND) relative to majority of its most significant trading partners. VND Index is a measure of global strength of Vietnamese Dong relative to currency of Vietnam's major trading partners. In 2009, following regions whose currency has been selected into calculation of VND Index are: United States, China, Japan, Europe, Singapore, Taiwan, and South Korea. Those seven regions are chosen, whose currencies selected into the index, based on the value of their export and import to Vietnam: Both"
"""protection"", pursued the struggle against communism; the Việt Cộng replaced the Viet Minh, in the Vietnam War. Following the signing of the 1949 Élysée Accords in Paris, Bảo Đại was able to create a National Army for defense purposes. It fought under the State of Vietnam's banner and leadership and was commanded by General Nguyễn Văn Hinh. The currency used within the French Union was the French Indochinese piastre. Notes were issued and managed by the ""Issue Institute of the States of Cambodia, Laos and Vietnam"" (""Institut d’Emission des Etats du Cambodge, du Laos et du Viêt-Nam""). State of Vietnam"
"started a cycle of chronic inflation that continued through much of the early 1990s. For earlier modern Vietnamese coins, please see North Vietnamese đồng or South Vietnamese đồng. In 1978, aluminium coins (dated 1976), were introduced in denominations of 1, 2, and 5 hào and 1 đồng. The coins were minted by the Berlin mint in the German Democratic Republic and bear the state crest on the obverse and denomination on the reverse. Due to chronic inflation, these coins lost all their relevant value and no coins circulated for many years after this series. Commemorative coins in copper, brass, copper-nickel,"
"dollar. Every year or two Vietnam undergoes a cycle staff report based off Article IV Consultation and hold discussions of their economic developments. As of July 2016, Vietnam has found some promising progress as they have decreased their poverty rate by one percent and managed to lower their inflation. Their main source of exports are crude oil, electronics, coffee, rice, and rubber, while their key export buyers are the US, Japan, and the developing members of ASEAN. As of July 2017, IMF credits Vietnam's economy with ""growth momentum [that] remains robust underpinned by strong manufacturing activity and foreign direct investment."""
"still in wide circulation. Five banknote series have appeared. Except for the current series, dated 2003, all were confusing to the user, lacking unified themes and coordination in their designs. The first table below shows the latest banknotes, of 100 đồng or higher, prior to the current series. On June 7, 2007, the government ordered cessation of the issuance of the cotton 50,000 and 100,000₫ notes. They were taken out of circulation by September 1, 2007. State Bank of Vietnam 10,000 and 20,000₫ cotton notes are no longer in circulation as of January 1, 2013. In 2003 Vietnam began replacing"
"real and nominal VND Indexes started 100 point in the beginning of 2009. VND Index VND Index also known as the Trade Weighted Vietnam Dong Index, is a measure of the value of the Vietnam Dong (VND) relative to majority of its most significant trading partners. VND Index is a measure of global strength of Vietnamese Dong relative to currency of Vietnam's major trading partners. In 2009, following regions whose currency has been selected into calculation of VND Index are: United States, China, Japan, Europe, Singapore, Taiwan, and South Korea. Those seven regions are chosen, whose currencies selected into the"
"1967 to 1975. The Stock Trading Center of Vietnam is also the official mechanism through which new government bonds are issued, and it functions as the secondary market for a number of existing bond issues. All securities traded on the Stock Trading Center of Vietnam are denominated in Vietnamese dong (VND). Par value is standardized at VND10,000 for equities and VND100,000 for bonds. Trading is conducted daily with two matching sessions: morning (9 a.m. - 11.30 a.m.) and afternoon (1 p.m. - 3 p.m.). The State Securities Commission (SSC), a body established formally in 1996, is responsible for capital markets"