- Vietnamese đồng
Vietnamese đồng đồng Việt Nam (Vietnamese) 500,000 đồng 500 đồng ISO 4217 code VND User(s) Socialist Republic of Vietnam Inflation 2.4% Source Vietnam Business Finance, September 24, 2009 Subunit 1/10 hào 1/100 xu
both subunits have been unused in Vietnam for several years
U+20AB ₫ dong sign (HTML:
Coins 200₫, 500₫, 1000₫, 2000₫, 5000₫ Banknotes 100₫, 200₫, 500₫, 1,000₫, 2,000₫, 5,000₫ (these first six are old issue, but still in circulation), 10,000₫, 20,000₫, 50,000₫, 100,000₫, 200,000₫, 500,000₫ Central bank State Bank of Vietnam Website www.sbv.gov.vn
The đồng (English pronunciation: /ˈdɒŋ/, Vietnamese: [ɗôŋm]) (sign: ₫; code: VND) has been the currency of Vietnam since May 3, 1978. It is issued by the State Bank of Vietnam. It has the symbol ₫. The đồng currently ranks as the least valuable currency in terms of exchange rate. It used to be subdivided into 10 hào which was further subdivided into 10 xu. However, neither the xu or the hao are currently in use in Vietnam.
The word đồng is from the term “đồng tiền” (lit. money) which is a cognate of the Chinese tóng qián (Traditional Chinese: 銅錢; Simplified Chinese: 铜钱). The term refers to Chinese bronze coins which were used as currency during the dynastic periods of China and Vietnam. The term hào is a cognate of the Chinese "háo" (Chinese: 毫) which means 1/10 a currency unit.
The sign is encoded U+20AB ₫ dong sign (HTML:
In 1946, the Viet Minh government (later to become the government of North Vietnam) introduced their own currency, the đồng, which replaced the French Indochinese piastre at par. Two revaluations followed, in 1951 and 1958. The first was at a rate of 100:1, the second at a rate of 1000:1.
Notes dual denominated in piastre 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 the "liberation đồng" worth 500 old southern đồng.
After Vietnam was reunified, the đồng was also unified, on May 3, 1978. 1 new đồng = 1 northern đồng = 0.8 southern "liberation" đồng.
In 1978, aluminium coins (dated 1976), were introduced in denominations of 1, 2 and 5 hào and 1 đồng. Due to chronic inflation, no coins circulated for many years.
Commemorative coins in copper, brass, copper-nickel, silver, and gold were issued since 1986 but these coins have never been 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. Before that, Vietnamese had to exchange banknotes for tokens with a clerk before purchasing goods from vending machines. Many residents expressed excitement of seeing coins again after many years, as well as concern for the usefulness of the 200 đồng coins.
2003 Series  Image Value Technical parameters Description Date of Diameter Thickness Mass Composition Obverse Reverse first minting issue   200₫ 20 mm 1.45 mm 3.2 g Steel plated with nickel Coat of arms Denomination 2003 December 17, 2003 500₫ 22 mm 1.75 mm 4.5 g Steel plated with nickel April 1, 2004   1,000₫ 19 mm 1.95 mm 3.8 g Steel plated with a copper-zinc alloy Coat of arms Water Temple, Đô Temple 2003 December 17, 2003   2,000₫ 23.5 mm 1.8 mm 5.1 g Steel plated with a copper-zinc alloy Ethnic house April 1, 2004 5,000₫ 25.5 mm 2.2 mm 7.7 g Copper alloy (CuAl6Ni92) Một Cột Pagoda (One Pillar Pagoda) December 17, 2003 These images are to scale at 2.5 pixels per millimeter. For table standards, see the coin specification table.
In 1978, the State Bank of Vietnam (Ngân hàng Nhà nước Việt Nam) introduced notes in denominations of 5 hào, 1, 5, 10, 20 and 50 đồng dated 1976. In 1980, 2 and 10 đồng notes were added, followed by 30 and 100 đồng notes in 1981.
In 1985, notes were introduced in denominations of 5 hào, 1, 2, 5, 10, 20, 30, 50, 100 and 500 đồng. As inflation took hold, these first banknotes were followed by 200, 1,000, 2,000 and 5,000 đồng notes in 1987, 10,000 and 50,000 đồng in 1990, 20,000 đồng in 1991, 100,000 đồng in 1994, 500,000 đồng in 2003 and 200,000 đồng in 2006.
There have been five banknote series. Except for the current 2003 series, all previous series were rather confusing and did not have a unified design theme. The first table below shows the latest banknotes prior to the 2003 series, 100 đồng or higher.
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.
Pre-2003 Banknotes in Circulation Image Value Dimensions Main Color Description Date of Obverse Reverse Obverse Reverse printing issue 100₫ 120 × 59 mm Brown on green background National designs Phổ Minh Pagoda 1991 May 2, 1992 200₫ 130 × 65 mm Orange Ho Chi Minh Agricultural production 1987 September 30, 1987 500₫ 130 × 65 mm Pink Port Haiphong 1988 August 15, 1989 1,000₫ 134 × 65 mm Multicolor on lime background Lumber productions October 20, 1989 2,000₫ 134 × 65 mm Multicolor Textile factory 5,000₫ 134 × 65 mm Blue Trị An hydropower plant 1991 January 15, 1993 10,000₫ 140 × 68 mm Red Halong Bay 1993 October 15, 1994 20,000₫ 140 × 68 mm Blue Canned food factory 1991 March 2, 1993 50,000₫ 140 × 68 mm Green Nhà Rồng Port 1994 October 15, 1994 100,000₫ 145 × 71 mm Brown Ho Chi Minh's ethnic house September 1, 2000 These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.
Since 2003, Vietnam has replaced its cotton banknotes with plastic polymer banknotes, which it claims will save money. Many newspapers in the country criticized these changes, citing mistakes in printing and alleging that the son of the governor of the State Bank of Vietnam benefited from printing contracts. The government clamped down on these criticisms by banning two newspapers from publishing for a month and considering other sanctions on other newspapers.
2003 Polymer Series Image Value Dimensions Main Color Description Date of Obverse Reverse Obverse Reverse printing issue 10,000₫ 132 × 60mm Dark brown on greenish yellow Ho Chi Minh Offshore platform First 2 digits of serial August 30, 2006 20,000₫ 136 × 65 mm Blue Japanese bridge in Hoi An May 17, 2006 50,000₫ 140 × 65 mm Pink Huế December 17, 2003 100,000₫ 144 × 65 mm Yellowish green Temple of Literature September 1, 2004 200,000₫ 148 × 65mm Brownish-red Halong Bay August 30, 2006 500,000₫ 152 × 65 mm Cyan-Green Ho Chi Minh's birthplace in Kim Lien December 17, 2003 These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.
A commemorative, polymer 50 đồng banknote dedicated to the 50th anniversary of the State Bank of Vietnam was issued in 2001, however, its face value is so minimal it was meant only for collectors. The note usually comes with a presentation folder.
Bearer's checks 1992-2002
To support the growing industry's need for large money transactions, the State Bank issued Bearer's Checks or State Bank Settlement Checks (Ngân Phiếu Thanh Toán) in denominations from 100,000 to 5,000,000 đồng. To prevent counterfeiting, these notes had many degrees of protection, changed their design every 5–6 months, and had expiration dates in 5 or 6 months from the day of issue. The checks worked until the banking system was upgraded to handle electronic transfers of large amounts of đồng, so most large cash transactions were no longer needed.
Other uses of đồng
In the Vietnamese language, đồng can be used as a generic term for any currency by adding the country name as a qualifier. This practice is more common for more esoteric units of currency. In some overseas Vietnamese-speaking communities, notably Vietnamese Americans, it is used to denote the local currency (USD) and one must refer to VND as đồng Việt Nam (Vietnamese đồng). Similarly, hào and xu are occasionally used to translate U.S. "dime" and "cent" respectively into Vietnamese.
In modern-day Vietnam, because the value of the currency is so small, one đồng could also be understood as one thousand đồng.
Current VND exchange rates From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY From OzForex: AUD CAD CHF EUR GBP HKD JPY USD CNY From XE.com: AUD CAD CHF EUR GBP HKD JPY USD CNY From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD CNY
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. Since the revaluation of the Zimbabwean dollar on 1 August 2008 the đồng was again the least valued currency unit until 11 September 2008, when the Zimbabwean dollar once again surpassed it and on about 20 October in terms of cash rate. On 17 November 2008, the official rate of the Zimbabwean dollar fell below the đồng.
On 3 February 2009, the đồng had this title again as Zimbabwean dollar re-denominated, although in March 2009 the title was briefly held by São Tomé and Príncipe dobra. Since Zimbabwe abandoned its dollar on 12 April 2009, the Vietnamese đồng has been the least valued currency.
- Vietnamese Dong
- Current exchange rates
- Coins and Banknotes of Vietnam and French Indochina
- VND Index, a measure of global strength of Vietnam Dong
- Vietnam money through time
- Bringing money to Vietnam
- Vietnam Forex & Currency Exchange
- ^ LOC Country Study Vietnam.
- ^ a b c d State Bank of Vietnam. "Technical characteristics of Vietnamese currency" (in Vietnamese). Archived from the original on 2006-07-22. http://web.archive.org/web/20060722002337/http://www.sbv.gov.vn/CdeHTTT/kthuat.asp. Retrieved 2006-08-09.
- ^ "Curious Vietnamese sneak a peek at no-tear notes, coins". 2003-12-19. Archived from the original on 2004-06-01. http://web.archive.org/web/20040601230923/http://vietnamnews.vnagency.com.vn/2003-12/18/Stories/12.htm.
- ^ http://art-hanoi.com/collection/vncoins/vn-20003-r.jpg
- ^ http://art-hanoi.com/collection/vncoins/vn-1k03-r.jpg
- ^ http://art-hanoi.com/collection/vncoins/vn-2k03-r.jpg
- ^ State Bank of Vietnam. "Đình chỉ lưu hành tiền cotton loại 50.000 đồng và 100.000 đồng". http://www.sbv.gov.vn/home/TinHDNH.asp?tin=2040. Retrieved 2007-06-08. [dead link]
- ^ No longer used
- ^ a b BBC (2006-10-21). "Vietnam censorship concern grows". BBC News. http://news.bbc.co.uk/2/hi/asia-pacific/6073038.stm.
- ^ NGÂN HÀNG NHÀ NƯỚC VIỆT NAM THÔNG BÁO PHÁT HÀNH TIỀN MỚI VÀO LƯU THÔNG
- ^ Ngan Phieu (Bearer's Checks) 1992-2002 Coins and banknotes of Vietnam and French Indochina
- ^ "Zimbabwe money loses three zeros". BBC News. July 31, 2006. http://news.bbc.co.uk/1/hi/world/africa/5231836.stm.
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
First đồng Preceded by:
North Vietnamese đồng
Location: North Vietnam
Reason: currency unification
Ratio: at par
Currency of Vietnam
1978 – 1985
Note: banknotes are dated 1976
Ratio: 1 second đồng = 10 first đồng
South Vietnamese liberation đồng
Location: South Vietnam
Reason: currency unification
Ratio: 1 new đồng = 0.8 liberation đồng
Reason: Vietnamese invasion of Cambodia
Note: It is unclear whether the North, the South đồng, or nothing at all was used after the invasion in January 1980 and before the issuance of a united đồng in May
Currency of Cambodia
1978 – 1980
Concurrent with: Thai baht and some other foreign currencies, to some extent
Reason: reintroduction of a national currency
Ratio: 1 riel = 3 đồng = 0.25 U.S. dollar = 1kg rice
Second đồng Preceded by:
Ratio: 1 second đồng = 10 first đồng
Currency of Vietnam
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