#Vietnamese exchange rates plus
#Vietnamese exchange rates series

The value of the US dollar has soared in 2022 in response to the Federal Reserve ( Fed) rapidly hiking interest rates in an effort to tame record inflation. The value of the currency is influenced by Vietnam’s trade flows, foreign currency reserves, economic growth, interest rates and inflation, as well as US monetary policy. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. The two versions were unified when the country became one in 1978. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. What affects the Vietnamese dong’s value? In this article, we look at recent exchange rates trends and some of the latest Vietnamese dong predictions from analysts. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? The VND/USD exchange rate was at a low of 0.00004190 on 30 September.Ī trade surplus and moves by the State Bank of Vietnam (SBV) have supported the dong against other currencies such as the euro (EUR), which is facing its own pressures stemming from the Russia-Ukraine conflict and an economic slowdown. Like other emerging markets currencies, the Vietnamese dong ( VND) has fallen in value against the US dollar (USD) this year as the dollar has rallied to 20-year highs. Vietnamese dong forecast: How will the VND fare against USD and EUR?.What affects the Vietnamese dong’s value?.You’ll have to go first to your bank to order the currency you need, then wait for it to come and go back again to collect it.US30 US Wall Street 30 (USA 30, Dow Jones) Order online to benefit from a price reduction and collect at the branch of your choice. No, prepare for having trouble trying to use high banknote denominations abroad.

#Vietnamese exchange rates plus

The bank sets its own margin plus a commission.Īt Global Exchange, you’ll get a variety of banknotes with different values, adapted to all your payment needs. Online orders also get better rates than at the airport Order your foreign currency online, you will get bigger discounts the higher the amount you exchange. If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can collect your money. Click and collect or walk in to our stores. Immediate availability of currencies in our branches. Travel money is just a secondary business for banks. These are in denominations of 200, 500, 1000, 20 dong and are minted in Finland.

#Vietnamese exchange rates series

On the 17th December 2003, the National Bank of Vietnam issued a new series of currencies. However they were never put in circulation. Since 1986 there are commemorative coins in copper, tin, cupronickel, silver and gold. As a consequence of inflation, did not last very long. Regarding currencies, in 1978 there were aluminium coins in denominations of 1, 2 and 5 hao, dated from 1976. Up today, there have been five series of banknotes. In 1980 banknotes of 2 and 10 dongs were added, followed by 30 dongs and 100 dongs in 1981. In 1978 the National Bank of Vietnam entered the first banknotes of 5 hao, 1, 5, 10, 20 and 50 dongs, dated in 1976. Current Vietnamese dong coins and banknotes This event caused a cycle of inflation that would continue until the mid-nineties. On the 14th September 1985 the dong was revaluated, equalling 10 old dongs. The new dong equalled 1 dong of North Vietnam and 0.80 of South Vietnam. Regarding South Vietnam in 1953 banknotes of piastras and dongs were printed and on the 22nd September 1975, after the fall of Saigon, the currency of this region was replaced by the new dong.Īfter the reunification of Vietnam on the 3rd May 1978, the dong also unified. Two revaluations followed, one in 1951 and one in 1958. This currency was first introduced to the country by the government of North Vietnam in 1946, replacing the piastra of the French Indochina. The Vietnamese dong came in different stages to the country, first entering the North Area and then to the South. The dong is the official currency in Vietnam, although it arrived in different times to North Vietnam and South Vietnam, before the unification of the country.