Vietnamese Dong (VND)

The Vietnamese Dong (VND) is the official currency of Vietnam. It is controlled by the State Bank of Vietnam and is commonly referred to as the “đồng.” The VND is the legal tender used for all types of payments in Vietnam, ranging from daily transactions to large commercial deals.

The Vietnamese Dong is closely tied to Vietnam’s historical and economic development. In 1978, Vietnam introduced the Vietnamese Dong by merging the former currencies known as the “North Vietnam Dong” and “South Vietnam Dong.” Since then, the VND has been the country’s currency.

The Vietnamese Dong follows a decimal system. 1 Vietnamese Dong is divided into 100 xu. However, xu is not commonly used in practice due to its low value and is more of a symbolic unit.

Vietnam’s economic structure and exchange rate policies can influence the value of the Vietnamese Dong. The VND can fluctuate against other international currencies. Therefore, individuals traveling or conducting trade in Vietnam need to monitor the exchange rates of the VND and make currency conversions carefully.

It’s important to note that the Vietnamese Dong is generally not accepted outside of Vietnam. Therefore, individuals traveling or conducting trade in Vietnam need to use the local currency, VND. Currency conversions can be done at banks, currency exchange offices, and some major hotels.

In summary, the Vietnamese Dong (VND) is the official currency of Vietnam and is used for all types of payments within the country. It follows a decimal system and can fluctuate against other international currencies. Individuals traveling or conducting trade in Vietnam should use the local currency, VND, and monitor exchange rates.