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[37] 17 August 2010, The SBV further devalued the VND by 2.04% to 18,932 VND/USD, an increase of 388 dong from the previous rate. [37] [38] On 11 February 2011, the State Bank of Vietnam (SBV) announced a decision to increase the interbank exchange rate between USD and VND from 18,932 VND to 20,693 VND (a 9.3% increase).
List of all Asian currencies Present currency ISO 4217 code Country or dependency (administrating country) Currency sign Fractional unit Russian Ruble [1]: RUB Abkhazia ...
Instead the euro's stability and future existence was put into doubt, which reduced its share of global reserves to 19% as of year-end 2015 (vs 66% for USD). As of year-end 2020 these figures stand at 21% for EUR and 59% for USD. The percental composition of currencies of official foreign exchange reserves from 1995 to 2022. [14] [15] [16]
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. [89] As of December 27, 2024, a US dollar is worth 25,448 Vietnamese đồng.
In 2009, following regions whose currency has been selected into calculation of VND Index are: United States, China, Japan, Europe, Singapore, Taiwan, and South Korea.Those seven regions are chosen, whose currencies selected into the index, based on the value of their export and import to Vietnam:
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.
In many countries there is a distinction between the official exchange rate for permitted transactions within the country, and a parallel exchange rate (or black market, grey, unregulated, unofficial, etc. exchange rate) that responds to excess demand for foreign currency at the official exchange rate.
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. [1]Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe.