May 11, 2013

Vietnam Banknotes & Coins collections

Vietnam Banknotes & Coins collections

Vietnam’s current monetary system consists of 2 types: banknotes and coins
Vietnam Curent Banknotes have 12 denominations:
500,000 VND, 200,000 VND, 100,000 VND, 50,000 VND, 20,000 VND, 10,000 VND, 5,000 VND, 2,000 VND, 1,000 VND, 500 VND, 200 VND and 100 VND.
Click on the photo to View Detail picture and desriptions of these vietnam banknotes

1975-  Now Vietnam banknotes

South Vietnam Banknotes Collections 1955 -1966
Curent Vietnam Coins have 5 denominations:  5,000 VND, 2,000 VND, 1,000 VND, 500 VND and 200 VND.

To support growing industrial 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 to5,000,000 đồng.
To prevent counterfeiting, these notes had many degrees of protection, their designs were changed every five to six months, and they had expiration dates five or six months after the date of issue. The checks worked until the banking system was upgraded to handle electronic transfers of large amounts of đồng, making most large cash transactions unnecessary
  • Vietnam Dong VND - The least valued currency
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 the Zimbabwean dollar re-denominated, although in March 2009 the title was briefly held by the São Tomé and Príncipe dobra. Since Zimbabwe abandoned its dollar on 12 April 2009, the Vietnamese đồng has been the least valued currency.

Vietnam currencies in the History

Read more on North Vietnamese đồng

In 1946, the Viet Minh government (later to become the government of North Vietnam) introduced its own currency, the đồng, to replace 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.

Read more on South Vietnamese đồng

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” worth 500 old Southern đồng.

    South Vietnam Banknotes Collections 1966 -1975

    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 started a cycle of chronic inflation that continued through much of the early 1990s.

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