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In response to increasing pressure on the Vietnamese dong as a result of high inflation in the US, on October 17, 2022, the decision was made to increase the dong's trading band from 3 to 5 percent. As a result, from October 16 to October 24 the currency lost 2.98 percent of its value falling from 24,135 to 24,845 Vietnamese dong to the dollar ...
In 1953, 10, 20 and 50 su coins were introduced. In 1960, 1 đồng were added, followed by 10 đồng in 1964, 5 đồng in 1966 and 20 đồng in 1968. 50 đồng were minted dated 1975 but they were never shipped to Vietnam due to the fall of the South Vietnamese government.
The first đồng issued by the communists controlling northern Vietnam was introduced on January 31, 1946, and replaced the French Indochinese piastre at par. Two revaluations followed.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
1960 1962 1964 1966 1968 1970 1972 1974 ... Source: tradingeconomics.com. 1 USD = 23,286 VND) Finance. Vietnam has two stock trading centers, ...
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According to Vietnamese economist Vo Nhan Tri, Vietnam's post-reunification economy was in a "period of transition to socialism." The process was described as consisting of three phases. The first phase, from 1976 through 1980, incorporated the Second Five-Year Plan (1976–80)--the First Five Year Plan (1960–65) applied to North Vietnam only.
Anhao Paper Factory, 1961. South Vietnam had a small industrial sector and fell far behind other countries in the region in this respect. [1] Output increased 2.5 to 3 times over the 20 years of the country's existence, but the share in total GDP remained at only around 10%, even dropping to 6% in some years, while the economy was dominated by strong agricultural and service sectors. [1]