Vietnamese DONG, VND Smaller Denomination/News

[Waianae]

Vietnam latest news - Thanh Nien Daily (http://www.thanhniennews.com/business/?catid=2&newsid=24147)

Vietnam central bank to issue low denomination money for Tet
http://www.thanhniennews.com/images/newsimages/nganhang-318-05.gif



The Vietnamese central bank will supply paper currency notes of lower denominations to meet the spike in demand during next month’s Lunar New Year (Tet), its chief said Wednesday. Le Duc Thuy, the State Bank governor, said the notes would be of up to a denomination of VND5000 with priority given to 2000, 1000 and 500 notes.


While not specifying the volume, he promised an adequate supply for the festival.
There is a general shortage of low denomination notes after a plan to mint coins partially fell through.
For the last few years the central bank has been promoting the use of coins and hired foreign firms to mint some two billion dong worth.
But after half the amount was minted the plan was postponed when the contractors demanded three times higher prices for minting.
Besides, people remain uncomfortable with using coins and there are not many coin vending machines installed in the country.
Meanwhile, the State Bank had gradually begun to withdraw paper money in circulation.
Source: VnExpress – Translated by Tuong Nhi

[coconut]

Maybe not yet - but stay tuned.


Vietnam latest news - Thanh Nien Daily (http://www.thanhniennews.com/business/?catid=2&newsid=24147)

Vietnam central bank to issue low denomination money for Tet
http://www.thanhniennews.com/images/newsimages/nganhang-318-05.gif



The Vietnamese central bank will supply paper currency notes of lower denominations to meet the spike in demand during next month’s Lunar New Year (Tet), its chief said Wednesday. Le Duc Thuy, the State Bank governor, said the notes would be of up to a denomination of VND5000 with priority given to 2000, 1000 and 500 notes.


While not specifying the volume, he promised an adequate supply for the festival.
There is a general shortage of low denomination notes after a plan to mint coins partially fell through.
For the last few years the central bank has been promoting the use of coins and hired foreign firms to mint some two billion dong worth.
But after half the amount was minted the plan was postponed when the contractors demanded three times higher prices for minting.
Besides, people remain uncomfortable with using coins and there are not many coin vending machines installed in the country.
Meanwhile, the State Bank had gradually begun to withdraw paper money in circulation.
Source: VnExpress – Translated by Tuong Nhi

[prasarthi]

goog news...but how to get them??? here in canada its difficult..no bank sell them...anybody have any idea?

[traveler]

go to dinartrade.com they sell it one million for $115 usd

[AAD]

Any of you guys know what are the restrictions to foreign investors, do they allow opening of bank accounts, buy stock, and are there limits to how much can go in or out? Just curious...;)

[Dinar_OS]

Smells of a lop. Printing smaller bills, pulling larger bills. Yep, she starting to lean.

[Goober]

I purchased a few mil today, wanted the 500,000 notes, only had 200,000 notes, supplier said all out of the biggies. When may we see the Dong on the FOREX? If there's a lop, we'll want to exchange the larger notes for smaller ones.