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In response to increasing pressure on the Vietnamese dong as a result of high inflation in the US, on 17 October 2022, the decision was made to increase the dong's trading band from 3 to 5 percent. As a result, from 16 October to 24 October the currency lost 2.98 percent of its value falling from 24,135 to 24,845 Vietnamese dong to the dollar. [44]
Banking in Vietnam started in 1976 with the State Bank Vietnam, which became the central bank of the country. Vietnam's banks suffer from low public confidence, regulatory and managerial weakness, high levels of non-performing loans (NPL), non-compliance with the Basel capital standards, and the absence of international auditing.
VND Index also known as the Trade Weighted Vietnam Dong Index, ... Export (bil USD) Y08 Import (bil USD) Y08 Index US 12.00 2.60 16.67% EU 10.50 8.20 19.60% JP
Phạm Nhật Vượng (born 5 August 1968) [3] is a Vietnamese property developer and Vietnam's first USD billionaire. [4] He is the founder and chairman of Vingroup, the largest conglomerate in Vietnam. As of November 2024, Vượng has a net worth of $4.2 billion according to Forbes. [5]
In 1806, Emperor Gia Long of the new Nguyễn dynasty imposed the "Sea Ban policy", which banned all Vietnamese overseas business and stopped Western merchants from entering Vietnam. [ dubious – discuss ] This policy led to stagnation of the Vietnamese economy in the early-19th century, and contributed to Vietnam becoming a French colony.
The Vietnamese cash (chữ Hán: 文 錢 văn tiền; chữ Nôm: 銅 錢 đồng tiền; French: sapèque), [a] [b] also called the sapek or sapèque, [c] is a cast round coin with a square hole that was an official currency of Vietnam from the Đinh dynasty in 970 until the Nguyễn dynasty in 1945, and remained in circulation in North Vietnam until 1948.
Vu continues his parallel career as a tournament poker player. As of 2017, he had won more than $1,975,000 in casino poker tournaments, including a second-place finish in a no limit Texas hold 'em event at the 2007 World Series of Poker [4] and a 22nd-place finish at the 2005 World Series of Poker championship event. [5]
The Military Industry and Telecoms Group (Vietnamese: Tập đoàn Công nghiệp - Viễn thông Quân đội, lit. 'the Army Industry - Telecommunications Group'), [3] [4] trading as Viettel or Viettel Group (Tập đoàn Viettel), is a Vietnamese state-owned multinational telecommunications, technology and manufacturing conglomerate headquartered in Hanoi, Vietnam.