Vietnamese dong coins have five denominations, including 200VND, 500VND, 1000VND, 2000VND, and 5000VND. At the same time, the face value of the currency is now issued from 100 VND to 500,000 VND. Since 2003, the government has released more polymer notes, zinc coins (metal coins) and cotton-paper money notes. Existing denominations of Vietnam currencyīefore 2003, there existed only money in Vietnam made from cotton paper with par value from 100 VND to 100,000 VND. This helps you avoid having some minor problems when your own currency is not accepted in Vietnam, but you need to buy something right away. Therefore, if your vacation falls on a Vietnamese weekend, you need to prepare in advance.Īt Vietnam’s international airports like Tan Son Nhat in Ho Chi Minh City, Noi Bai in Hanoi, and Da Nang Airport in Da Nang, you will recognize several bank branches to serve money exchange demand of tourists.Īnd good advice is given to you that if you have not prepared the Vietnamese money earlier, you should convert your money into VND immediately before stepping out of the airport, or using any services. However, you will not be able to find any of these banks that operates on Saturdays and Sundays. Asia Commercial Joint Stock Bank – ACB.Vietnam Joint Stock Commercial Bank for Investment and Development – BIDV.Vietnam Joint Stock Commercial Bank for Industry and Trade – Vietinbank.Vietnam Joint Stock Commercial Bank for Foreign Trade – Vietcombank.Here are the good banks in Vietnam to exchange your money into VND: It’s not too difficult to find a bank or bank branch in all cities of Vietnam. Therefore, to be sure to avoid unintended troubles such as too low exchange rates, illegal exchange of foreign currencies of business establishments, losing high fees and unreasonable fees, visitors should choose to go to banks or bank branches to change foreign money into Vietnam Dong. The last major change to the dong occurred in 2003 when the began to replace the cotton banknotes with plastic polymer and added the 500,000 note.In Vietnam, the government regulates the exchange of foreign currencies to be conducted only at licensed establishments.Īt the same time, all trading activities taking place in Vietnamese territory must be managed in Vietnam Dong. Over the past 30 years, additional exchanges and revaluations of the currency have occurred and new notes with more zeros and updated artwork have been printed. On September 22, 1975, the Provisional Revolutionary Government of the Republic of South Vietnam organized launched a new national currency, called "Bank of Vietnam Money" (also known as liberation money) at the rate of 1 dong of the new currency for 500 dong of the old one and equivalent to US$1. 04/PCT - 75 on the establishment of the National Bank of Vietnam, led by Governor Tran Duong. The exchange rate was 10 dong of the old banknotes to 1 dong of the new and took place over 20 months.Īfter the fall of Saigon, the new government took over the National Bank of Vietnam but retained the old currency until Jwhen the Provisional Revolutionary Government of the Republic of South Vietnam enacted Decree No. On May 6, 1951, the National Bank of Vietnam was established and released banknotes to replace the money issued under the Ministry of Finance in 1947. At this time, the State switched out the old Dong Duong banknotes in favor of the Viet Nam dong banknote, at a 1 to 1 rate. On the government issued Decree 48/SL for circulation of the country's banknotes with face values of 1 dong (1 dong!!!), 5 dong, 10 dong, 20 dong, 50 dong, 100 dong and 500 dong. In 1945, the Democratic Republic of Vietnam issued the first aluminum coins to replace the mishmash of currencies that existed in the country. In addition to the above coins, The Indochina Bank also issued banknotes, with images of three girls in the traditional costumes of Vietnam, Laos and Cambodia. Eventually, colonial authorities instituted the use of Mexico coins, weighing in at 27.73 grams and later the Dong Duong coin weighing 27 grams. Like Vietnamese history, the country's currency has undergone significant changes over the past century.ĭuring French occupation, the monetary unit in Indochina was the Piastre, often referred to as " bac".
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