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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]
The đồng circulated in those parts of Vietnam not under the control of the Communist forces, which by 1954 coincided with South Vietnam. Coins denominated in su were also introduced in 1953. In 1955, an independent issue of đồng banknotes was produced by the National Bank of Vietnam. A South Vietnamese 1 đồng Coin from 1964
List of all Asian currencies Present currency ISO 4217 code Country or dependency (administrating country) Currency sign Fractional unit Russian Ruble [1]: RUB Abkhazia ...
The State Bank of Vietnam (SBV; Vietnamese: Ngân hàng Nhà nước Việt Nam) is the central bank of Vietnam. Organized as a ministry-level body under the Government of Vietnam, it is the sole issuer of the national currency, the Vietnamese đồng. [3] As of 2024 it holds over USD 100 million in foreign exchange reserves. [2]
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.
The exchange rate between the U.S. dollar and the Vietnamese đồng is important because the dong, although not freely convertible, is loosely pegged to the dollar through an arrangement known as a "crawling peg". This mechanism allows the dollar–dong exchange rate to adjust gradually to changing market conditions. [36]
In 1954, this became the currency of the newly recognized state of North Vietnam, with an exchange rate to the still circulating piastre and South Vietnamese đồng of 32 northern đồng = 1 piastre or southern đồng. In 1956, the đồng was pegged to the Chinese renminbi yuan at a rate of 1.47 đồng = 1 yuan.
According to that ratio, a French Indochinese piastre coin is worth from 200 to 600 traditional Vietnamese cash coins. [1] The obverse of the banknotes and coins were inscribed in the French language , while the reverse side had inscriptions written in Traditional Chinese , Vietnamese Latin script , Lao , and Khmer scripts , but sometimes only ...