Vietnamese đồng
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The Vietnamese đồng is the official money used in Vietnam for buying and selling goods and services. It matters because it's the standard currency that allows the Vietnamese economy to function, from everyday purchases to international trade.
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The dong (Vietnamese: đồng; /dɒŋ/; Vietnamese: [ˀɗɜwŋ͡m˨˩]; sign: ₫ or informally đ and sometimes Đ in Vietnamese; code: VND) is the currency of Vietnam, in use since 3 May 1978. It is issued by the State Bank of Vietnam. The dong was also the currency of the predecessor states of North Vietnam and South Vietnam, having replaced the previously used French Indochinese piastre.
Formerly, it was subdivided into 10 hao (hào), which were further subdivided into 10 xu, neither of which are now used due to inflation. Since 2003, Vietnam has replaced cotton banknotes with polymer (plastic) for denominations of 10,000₫ and above to increase durability and security. The Vietnamese dong has recently switched to exclusively using banknotes and moving towards digital payments, with lower denominations printed on paper and denominations over 10,000 dong, worth about 40¢ dollar or euro, printed on polymer. As of 2022, no coins are used. The 500,000-dong note (VND) is the highest-denomination banknote in circulation in Vietnam. The note is dark blue in color and has been in circulation since 2003.