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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
Italy has actively supported greater cooperation between Vietnam and the European Union (EU) and the normalisation of relations between Vietnam and international financial, commercial and monetary institutions. [4] Two-way trade between Vietnam and Italy reached US$4.3 billion in 2015. The two countries are striving for US$5 billion per year. [5]
Currency ISO 4217 code Symbol or Abbrev. [2] Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp
In 1946, the Viet Minh government (later to become the government of North Vietnam) introduced its own currency, the dong, to replace the French Indochinese piastre at par. Two revaluations followed, in 1951 and 1959; the first was at a rate of 100:1, the second at a rate of 1,000:1.
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 agreement deepens the Vietnam–European Union relations and was adopted by Council Decision (EU) 2020/753 of March 30, 2020 on the conclusion of the free trade agreement between the EU and Vietnam. [2] The agreement was passed in Vietnam on June 8, 2020, in the Vietnamese National Assembly and entered into force on August 1 of that year. [3]
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.
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.