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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]
Calling the US dollar a piastre is still common among speakers of Cajun French and New England French. Modern French uses dollar for this unit of currency as well. The term is still used as slang for US dollars in the French-speaking Caribbean islands, most notably Haiti. Piastre is another name for kuruş, 1 ⁄ 100 of the Turkish lira.
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.
This mechanism allows the dollar–dong exchange rate to adjust gradually to changing market conditions. [37] This was set at 3 percent either side of a fixed rate set each day by the SBV, however, it was increased to 5 percent in October of 2022. [91] As of December 27, 2024, a US dollar is worth 25,448 Vietnamese đồng.
20 Dong, 1946 5 Dong, 1947 100 Dong, 1948. The government (Việt Nam Dân Chủ Cộng Hòa) issued two forms of paper money for this currency, "Vietnamese banknotes" (Giấy Bạc Việt Nam) and "Credit notes" (Tín Phiếu). In 1946, banknotes were introduced in denominations of 20 and 50 xu, 1, 5, 20, 50, 100 đồng, together with credit ...
In 2018, OCB was recognized by the State Bank of Vietnam for successfully completing the implementation of Basel II. Basel II is an international set of standards for bank risk management. [20] [21] In January 2020, Aozora Bank of Japan purchased a 15% stake in OCB. [22] In 2021, OCB was officially listed on the Ho Chi Minh City Stock Exchange ...
In 1946, the North Vietnamese đồng was introduced, which replaced the piastre at par. In 1952/53, the Lao kip (1952), Cambodian riel (1953), and South Vietnamese đồng (1953) were introduced at par with the piastre. Initially, the paper money bore denominations both in the local currency and the piastre, but coins were denominated in the ...
The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietnamese: Ngân hàng Thương mại Cổ phần Công thương Việt Nam), trading as Vietinbank, is a state-owned Vietnamese bank. As of 2023, it is Vietnam's second-largest bank, with VND 1,800 trillion (around $76 billion) of assets under management .