Vietnamese Đồng

Đồng
Country:	Vietnam
Subdivision:	10 Hào = 100 Xu
ISO 4217 code :	VND
Abbreviation:	₫, D
Exchange rate : (29 Mar 2020)	1  EUR  = 25,880 VND 10,000 VND = 0.3864 EUR 1  CHF  = 24,050 VND 10,000 VND = 0.4158 CHF

₫

The Đồng (₫, IPA: dôŋ ), also spelled Dong , has been the official currency of Vietnam since May 3, 1978 . It is issued by the Vietnamese State Bank.

The currency symbol for the Đồng is a superscript lowercase d with a slash , which is often underlined. In international payments it is abbreviated as VND . 1 Đồng is divided into 10  Hào or 100  Xu . Due to their low value, there are almost no coins in circulation; the smallest banknote in circulation is the 200 Đồng note (equivalent to around 0.8 cents).

Origin of name

In the Vietnamese language the term Đồng is also an expression for copper . This is because the coins were minted from copper before the colonization by the French . When Vietnam was part of French Indochina , the French Indochina piaster was considered the standard currency of the colonial area. The Vietnamese text on this currency referred to them as Đồng or, less commonly, Bạc (“silver”).

history

North and South Vietnam

In 1946, the North Vietnamese government introduced its own currency, the Đồng , which has been equated with the piaster . This was followed by a re-evaluation in 1951, in which the Đồng against the piaster was set with an exchange ratio of 100: 1 and in 1958 a ratio of 1000: 1.

In 1953, the piasters and Đồng alike were spent on the territory of the South Vietnamese state . On September 22, 1975, after the fall of Saigon, a new “liberation Đồng” (“ Liberation Đồng ”) was issued in South Vietnam to 500 old South Vietnamese Đồng.

United Vietnam

After the reunification of Vietnam, the Đồng was set on May 3, 1978 with an exchange rate of one Đồng = 1 North Vietnamese Đồng = 0.8 South Vietnamese Đồng.

On September 14, 1985, the Đồng was finally reassessed and a ratio of one new to ten old Đồng was established. This was the beginning of a long-running inflation that lasted into the late 1990s.

Course development

year	1 euro	1 US dollar
1989	-	3,500 Đồng
1992	-	8,000 Đồng
2006	20,000 Đồng	16,000 Đồng
2008	24,000 Đồng	16,200 Đồng
2012	25,000 Đồng	20,500 Đồng

After the Zimbabwean dollar was revalued on August 1, 2006, the Đồng was the currency with the lowest value in the world for a few months. Around March 21, 2007, the Zimbabwean dollar regained this dubious top position (in terms of black market value ) and on September 7, 2007 also in the official exchange rate. Since the re-evaluation of the Zimbabwean currency on August 1, 2008 (the Zimbabwean currency was also suspended on September 30, 2015), the Đồng has again been the currency with the lowest value.

Coins

First Đồng

In 1978 aluminum coins (minted in 1976) with the face values ​​1, 2 and 5 Hào and 1 Đồng were introduced. However, due to the ongoing inflation, coins were no longer circulated for many years.

Second Đồng

Commemorative coins

Commemorative coins made of copper, bronze, copper-nickel, silver and gold have been issued since 1986 until today. However, these never came into free circulation.

Edition from 2003

The State Bank of Vietnam started issuing coins again on December 17, 2003. The new coins minted in the Mint of Finland were issued with face values ​​of 200, 500, 1000, 2000 and 5000 Đồng. Before that, you had to exchange banknotes for tokens at a ticket clerk before goods could be removed from a machine. Many residents of Vietnam were very astonished to see coins again after such a long time and immediately expressed their concern about the usability of the 200 Đồng coins.

image	values	Technical parameters				description		Issue date
		diameter	thickness	Weight	material	front	back
[1] [2]	200 ₫	20 mm	1.45 mm	3.2 g	Nickel-plated steel	Coat of arms of Vietnam	National symbols	December 17, 2003
[3] [4]	500 ₫	22 mm	1.75 mm	4.5 g	Nickel-plated steel			April 1, 2004
[5] [6]	1000 ₫	19 mm	1.95 mm	3.8 g	Steel coated with a copper-zinc alloy		Water temple , Đô temple	December 17, 2003
[7] [8]	2000 ₫	23.5 mm	1.8 mm	5.1 g	Steel coated with a copper-zinc alloy		Local house	April 1, 2004
[9] [10]	5000 ₫	25.5 mm	2.2 mm	7.7 g	Copper alloy ( Cu Al 6 Ni 2 )		Chùa Một Cột (One Pillar Pagoda)	December 17, 2003

Banknotes

First Đồng

In 1978 the State Bank of Vietnam ( Ngân hàng Nhà nước Việt Nam ) issued banknotes with a face value of 5 Hào, 1, 5, 10, 20 and 50 Đồng, dated 1976. In 1980, notes of 2 and 10 Đồng were added, which were supplemented by 30 and 100 Đồng notes in 1981.

Second Đồng

In 1985 the new Đồng was released with notes with a face value of 5 Hào, 1, 2, 5, 10, 20, 30, 50, 100 and 500 Đồng. After inflation continued, notes of 200, 1000, 2000 and 5000 Đồng followed in 1987, then 10,000 and 50,000 Đồng in 1990, 20,000 Đồng in 1991, 100,000 Đồng in 1994, 500,000 Đồng in 2003 and finally 200,000 Đồng in 2006.

There have been a total of five banknote series so far. With the exception of the series from 2003, all previously issued notes were more or less confusing and did not have a uniform thematic design.

On June 7, 2007, the government ordered the issue of 50,000 and 100,000 cotton dong bills to stop. These have been taken out of circulation since September 1, 2007. Instead, the notes have since been printed on polymer .

Banknotes in circulation before 2003
image	value	format	description		Issue date
			front	back
	100 ₫	120 × 59 mm	National drafts	Phổ Minh Pagoda	May 2, 1992
	200 ₫	130 × 65 mm	Ho Chi Minh	Agricultural production	September 30, 1987
	500 ₫	130 × 65 mm		Port Haiphong	August 15, 1989
	1000 ₫	134 × 65 mm		Logging	October 20, 1989
	2000 ₫	134 × 65 mm		Textile factory
	5000 ₫	134 × 65 mm		Trị To Hydroelectric Plant	January 15, 1993
	10,000 ₫	140 × 68 mm		Vịnh Hạ Long	October 15, 1994
	20,000 ₫	140 × 68 mm		Canning factory	March 2, 1993
	50,000 ₫	140 × 68 mm		Nhà Rồng Port	October 15, 1994
	100,000 ₫	145 × 71 mm		Ho Chi Minh's ethnic house	September 1, 2000

2003 polymer bills
image		value	format	description		Issue date
front	back			front	back
		10,000 ₫	132 × 60mm	Ho Chi Minh	Sea platform	August 30, 2006
		20,000 ₫	136 × 65 mm		Japanese bridge in Hoi An	May 17, 2006
		50,000 ₫	140 × 65 mm		Huế	December 17, 2003
		100,000 ₫	144 × 65 mm		Văn Miếu	September 1, 2004
		200,000 ₫	148 × 65 mm		Vịnh Hạ Long	August 30, 2006
		500,000 ₫	152 × 65 mm		Ho Chi Minh's birthplace in Kim Liên	December 17, 2003

A 50 Đồng commemorative polymer note was issued to commemorate 50 years of the Vietnamese State Bank in 2001. However, their face value was so low that it was only of interest to collectors. The banknote was usually delivered in a display folder.

Another use of the term Đồng

In the Vietnamese language, Đồng is used as a single term for any currency. The country name is then added to the currency for specific identification. This practice is becoming more common for more and more currency units. In some Vietnamese communities that live, for example, in overseas territories outside the country, the term is even used to denote the local currency there (e.g. USD ), while the VND is called đồng Việt Nam ( Vietnamese Đồng ). In the same way one speaks of Hào and Xu when one means “Dime” (10 cent piece) or “Cent”.

Nowadays, when the value of the currency is very low, the indication of one Đồng can also be understood as one thousand Đồng.

The 1/100-Đồng unit, the Xu , is one of the shortest terms that contains the letter "X", which is important in the board game Scrabble , for example .

See also

• Vietnam's economy

Web links

Wiktionary: ₫  - Explanations of meanings, word origins, synonyms, translations

• Coins and Banknotes of Vietnam and French Indochina (English)

Individual evidence

1. ^ LOC Country Study Vietnam.
2. ↑ ^{a b c} State Bank of Vietnam: Technical characteristics of Vietnamese currency ( Vietnamese ) Archived from the original on July 22, 2006. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 9, 2006. 
3. ↑ Curious Vietnamese sneak a peek at no-tear notes, coins . December 19, 2003. Archived from the original on June 1, 2004. Retrieved on December 30, 2010.
4. ↑ Vietnamese State Bank: Đình chỉ lưu hành tiền cotton loại 50,000 đồng và 100,000 đồng . Retrieved on June 8, 2007.  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.  
5. ↑ NGÂN HÀNG NHÀ NƯỚC VIỆT NAM THÔNG BÁO PHÁT HÀNH TIỀN MỚI VÀO LƯU THÔNG ( Memento of the original from September 27, 2006 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.