The đồng has been the currency of Vietnam since May 3, 1978. It is issued by the State Bank of Vietnam. The đồng currently ranks as the second least valuable currency in terms of exchange rate. It used to be subdivided into 10 hào which was further subdivided into 10 xu. However, neither the xu or the hao are currently in use in Vietnam.
The word đồng is from the term “đồng tiền” (lit. money) which is a cognate of the Chinese tóng qián.
Since 2003, Vietnam has replaced its cotton banknotes with plastic polymer banknotes, which it claims will save money.
The front of this polymer note features the portrait of Ho Chi Minh at the right and the Vietnamese Coat of Arms at centre left. The back depicts the Japanese covered bridge over the Thu Bon river in the ancient town of Hoi An in the Quang Nam province. The bridge was built by the Japanese in 1593 and is still intact today.
Obverse: Ho Chi Minh
Reverse: Covered bridge in Hoi An
Many thanks to Joe. S. from USA.
