![]() Currently, only small paper banknotes of less than VND5,000 (VND1,000, VND2,000, VND5,000) are still valid for circulation in Vietnam. Since the use of polymer money, beginning on September 1, 2007, 50,000 and 100,000-denominated banknotes have expired and since 1 January 2013 denominated denominations of cotton VND 10,000, VND 20,000 has also ceased to circulate in the territory of Vietnam. Polymers have many advantages, such as: difficult to fabricate, durable, waterproof, suitable for use in modern equipment such as ATM, and money counter. Polymer money in Vietnam was issued by the State Bank of Vietnam in 2003 and is valid for circulation in parallel with other currencies, with the aim of meeting the demand for monetary circulation in terms of face value (additional currency have large denominations), and categories. Among them, three countries use the polymer money in their whole monetary systems some countries use polymer paper for some face value six countries are currently testing polymer money in the form of souvenir. There are currently 23 countries in circulation that print money on polymers. The 10,000 and 20,000 denominations were printed in 1990, the 50,000 copies were issued on October 15, 1994, and the 100,000 sheets from September 1, 2000.Meanwhile, the coins have a few years to appear on the market but not fit the style of spending money of Vietnamese people, so quickly classified as souvenir items. National Bank of Vietnam issued the currency of 10, 20, 50 VND. This serves the price and wage revolution. In 1985, with the complexity of the economy and the serious scarcity of cash in payment, the State of Vietnam announced a change in the rate of 10 Vietnamese dongs in exchange for a new currency. In the north, the liberation cash can be exchanged for a Vietnamese dong. ![]() In 1978, after the country became stable and unified in terms of finance, the Vietnamese currency continued to change. That is why the inscription “The penalties will be for those who make fake notes issued by the National Bank of Vietnam” was added on the 200 note.Īfter the unification of the country on, the money in circulation in southern Vietnam was renamed to “Liberation Cash”. In this period, Vietnam has appeared many organizations specializing in counterfeit money. In the period from 1954 to 1975, Vietnam was divided into two regions: North and South, each with its own currency but still referred to as “Vietnamese Dong”. The forms of bank money were quite similar to the past and only changed the prints on the back of the same color at each face value. Coordinating with the trade to manage currency and fight currency against French colonialism.Īccordingly, banknotes issued by the National Bank of Vietnam were officially put into circulation.Implementing credit policy for production development.Issuing credit memorandum, treasury management.15 / SL on establishing the National Bank of Vietnam with the following tasks: On May 6, 1951, President Ho Chi Minh signed Decree No. ![]() Paper Money Issued By The National Bank Of Vietnam In 1951 The Vietnamese at that time always called that money “Uncle Ho cash”. The numbers were written in Arabic numerals or in Han, Lao, and Cambodian. The back of the money usually printed other images of the agricultural, industry and military class. Before the State Bank of Vietnam was born, on every money note printed, there were the words “Democratic Republic of Vietnam” in the script language, Chinese characters, and pictures of President Ho Chi Minh. Starting from that point up to now, Vietnam has changed the currency in both form and material for seven times. Uncle Ho Cash After The Revolution Of August 1945Īfter the Revolution of August 1945, the Democratic Republic of Vietnam was born, the dong was officially printed and circulated to assert the sovereignty of the free country. In that currency, there are 3 young women dressed in traditional costumes of Laos, Cambodia and Vietnam. The first banknote to be circulated in Vietnam was the Indochina coin denomination of 100 francs, issued by the French and circulated from 1885 to 1954. Indochina Banknotes – The First Paper Money In Vietnam This article will help you have a general understanding about currency and exchange rates in Vietnam. Throughout the long history of the country, Vietnamese paper money has undergone many great changes.
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