1. A brief information about the currency of Vietnam
Denominations of Vietnamese dong
The Vietnamese Dong is the official currency of Vietnam and is represented by the ISO code VND. The word “dong” means the money in Vietnamese; it means adding a word after a country name will refer to any currency. For example, the US dollar will become the US dong, and so the Vietnamese currency will appear as the Vietnam dong.
The term VND refers to the abbreviated currency of the Vietnamese dong. Dong is the national currency of Vietnam, which replaced the separate use of money by North and South Vietnam in 1978. Dong is considered an exotic currency because it is not interested in the foreign exchange market. or in global finance. Until 2016, it was loosely pegged to the US dollar through an arrangement known as a crawling peg.
Therefore, the Vietnamese currency is managed by the State Bank of Vietnam through pegging to the US dollar. The word dong is used in Vietnamese to describe any currency or currency generally, and so the national currency should always indicate the Vietnamese dong.
The Vietnamese Dong was transferred to the country in various stages, first to the North and then to the South.
This currency was first introduced to the country by the Tonkin government in 1946, replacing the piastra of French Indochina. Two reevaluations followed one in 1951 and one in 1958.
Returning to South Vietnam in 1953, piastra banknotes and dong coins were printed and on September 22, 1975, after the fall of Saigon, the currency of this region was replaced with a new dong.
After Vietnam reunified on May 3, 1978, the dong was also unified. The new dong equals 1 dong for North Vietnam and 0.80 of South Vietnam. On September 14, 1985, the dong was revalued at 10 old dongs. This event caused an inflationary cycle that would continue until the mid-nineties.
VND replaced the previous currency that was depreciated in 1978, equivalent to one-tenth of VND. At some point, the VND was subdivided into the hao, but since the hao is no longer legal tender, the dong is considered the smallest unit of currency. VND was issued by the State Bank of Vietnam and suffered from severe inflation.
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2. How to distinguish Vietnamese dong banknotes?
2.1. Banknote 500,000 VND.
The highest denomination of Vietnam currency
– Release date: December 17, 2003
– Dimensions: 152mm x 65mm.
– Printing paper: Polymer.
– Overall color: Dark purple.
– Contents on the front side: Inscription “The Socialist Republic of Vietnam” National emblem – Portrait of President Ho Chi Minh – Denomination of 500,000 VND in letters and numbers – Decorative picture of ethnic patterns and current grid pattern grand.
– Contents on the back: The words “State Bank of Vietnam” – Landscape of President Ho Chi Minh’s house in Kim Lien – Denomination of 500,000 VND in letters and numbers – Decorative pictures of ethnic patterns and current grid patterns grand.
2.2. Banknote 200,000 VND.
Banknote 200,000 VND
– Release date: August 30, 2006
– Dimensions: 148mm x 65mm.
– Printing paper: Polymer.
– Overall color: Red-brown.
– Contents on the front side: Inscription “The Socialist Republic of Vietnam” National emblem – Portrait of President Ho Chi Minh – Denomination 200,000 VND in letters and numbers – Decorative pattern of ethnic and current grid patterns grand.
– Contents on the back side: The words “State Bank of Vietnam” – Landscape of Ha Long Bay – Denomination of 200,000 VND in words and numbers – Ethnic decorative pattern and modern grid pattern.
2.3. Banknote 100,000 VND (new type printed on polymer).
Banknote 100,000 Vietnam dong
– Release date: September 1, 2004
– Dimensions: 144mm x 65mm.
– Printing paper: Polymer paper, with high durability, no impact on the environment, with special security factors such as transparent windows, hidden or embossed images in the window.
– Color: The overall decorative pattern and content on the front and back are dark green.
– Contents on the front: Inscription “Socialist Republic of Vietnam” – National emblem – Portrait of President Ho Chi Minh – Denomination of 100,000 VND in letters and numbers – Decorative pattern of ethnic and grid patterns modern.
– Contents on the back side: The words “State Bank of Vietnam” – Landscape of the Temple of Literature – Quoc Tu Giam – Denomination of 100,000 VND in words and numbers – Decorative pictures of ethnic patterns and modern grid patterns.
2.4. Banknote 50,000 VND (new type printed on polymer).
Banknote 50,000 Vietnam dong
– Release date: December 17, 2003
– Dimensions: 140mm x 65mm.
– Printing paper: Polymer.
– Overall color: Red purple brown.
– Contents on the front: Inscription “Socialist Republic of Vietnam” – National emblem – Portrait of President Ho Chi Minh – Denomination of 50,000 VND in letters and numbers – Decorative pattern of ethnic and grid patterns modern.
– Contents on the back: The words “State Bank of Vietnam” – Hue landscape – Denomination of VND 50,000 in letters and numbers – Decorative pictures of ethnic patterns and modern grid patterns.
2.5. Banknote 20,000 VND (new type printed on polymer).
Banknote 20,000 Vietnam dong
– Release date: May 17, 2006
– Dimensions: 136mm x 65mm.
– Printing paper: Polymer.
– Overall color: Dark blue.
– Contents on the front: The words “Socialist Republic of Vietnam” – National emblem – Portrait of President Ho Chi Minh – Denomination of VND 20,000 in letters and numbers – Decorative pattern of ethnic and grid patterns modern.
– Contents on the back: The words “State Bank of Vietnam” – Landscape of Cau Pagoda, Hoi An, Quang Nam – Denomination of 20,000 VND in words and numbers – Decorative pictures of ethnic patterns and modern grid patterns.
3. Payment in cash or by credit card in Vietnam: which to choose?
You can make the payment by cash or a card is accepted
When traveling, visitors should usually only use a little cash in case the points do not accept payment, the rest should use a card to experience more convenience.
Unlike a few years ago, Vietnam is much more modern now. Almost all tourist attractions in Vietnam already have online payment methods or pay by bank card. You can easily see a QR code when entering a restaurant or cafe, a souvenir shop, etc.