Time Period: 1859-1875

Timeline

  • 10.04.1862
  • Governor's resolution for Cochinchina on the unlimited legal tender status of the "Mexican Piastre" (even countermarked); effective immediately:
    - 14.08.1862: Governor's resolution for Cochinchina, revoked the legal tender status of countermarked ("chop" marked) Piastres; effective immediately.
  • 05.03.1863
  • Treasury resolution on the rating of 1 Mexican Piastre = 5.37 French Francs; effective immediately.
    - 24.01.1864: Ordinance on the rating of 1 Mexican Piastre = 5.55 French Francs (5 French Francs = 0.90 Mexican Piastre), confirming an earlier resolution of 14.07.1853; effective immediately.
  • 13.06.1863
    12.11.1863
  • Rating of the former Vietnamese currencies as 1 ligature of 600 Cash (Sapek) = 1 French Franc; 1 Vietnamese tien silver = 0.10 French Franc; 1 Siamese tical silver = 4 French Francs.


Time Period: 1875-1954

Currency: Indochinese Piastre


Timeline

  • 21.01.1875
  • Presidential decree on a 20 years' privilege for the Bank of Indochina as colonial and issuing bank of the south-east Asian and Indian possessions; effective upon constitution of the bank on 10.04.1875.
    - Paper money issuance began on 08.01.1876.
  • 24.12.1878
  • Ordinance on the creation of silver subsidiary coins of 0.50, 0.20, 0.10 Piastre for Cochinchina; effective immediately.
    - The issuance of the coins began on 01.01.1880.
  • 22.12.1885
  • Ordinance on the creation of silver coins of 1, 0.50, 0.20, 0.10 Piastre for all French possessions in Indochina; effective immediately
  • 08.07.1895
  • Ordinance on the weight reduction of the silver Piastre (to 27 grams instead of 27.215 grams silver 0.900; effective immediately
  • 03.06.1903
  • Ordinance on the demonetization of the Mexican coinage; effective 31.12.1904.
  • 29.12.1904
  • Ordinance on the issuance of a zinc subsidiary coin of 1 Sapek = 1600 Piastre for the Tonkin protectorate; demonetized by ordinance of 30.07.1914.
  • 30.05.1930
  • Decree on the adoption of the gold standard; effective immediately.
    - 31.12.1931: Demonetization of the silver coinage; extended to 14.04.1932 in Laos.
  • 17.11.1945
  • Ordinance on the withdrawal of the paper money issued during the Japanese occupation; effective immediately:
    - Notes of 500 Piastres were invalidated without compensation, all other cash was deposited on blocked account and converted without confiscation after 20.09.1946.
  • 26.12.1945
  • Decree [No. 45-0135] on the post-war exchange rate against the French Franc; effective immediately.
  • 25.09.1948
  • Law [No. 48-1482] on the revocation of the issuing privilege of the Bank of Indochina; effective immediately.
    - The bank remained acting issuing institute until the establishment of a successor.
  • 23.12.1950
  • Agreement of the Inter-Government Conference (of the Indochinese States) on the establishment of a joint Indochinese currency institute
  • 28.12.1951
  • Decree [No. 51-1477] on the transition from the Bank of Indochina (acting) to the Currency Institute of the States of Cambodia, Laos and Vietnam; effective 01.01.1952
  • ??.??.1953
  • Start of issuance of the new banknotes and coins, in three distinct series each per member country.

Valuation Regimes

  • 1875-1930
  • Metallic currency based on circulating silver coins; on 20.01.1920 the convertibility of paper money got suspended.
  • 1930-1954
  • Fixed rate against French Franc (1795); gold parity was abolished on 02.10.1936

Rate Arrangements

  • 24.12.1878
  • Metallic
  • Piastre: 24'493.50mg AG fine
  • Piastre at 27.215 grams silver 0.900 fine.
  • 08.07.1895
  • Metallic
  • Piastre: 24'300.00mg AG fine
  • Piastre at 27 grams silver 0.900 fine.
  • 31.05.1930
  • Fixed
  • French Franc (1795) at 10 : 1 - [Gold parity] 589.50mg AU fine
  • +0.7%
  • 26.12.1945
  • Fixed
  • French Franc (1795) at 17 : 1
  • +70.0%
  • 11.05.1953
  • Fixed
  • French Franc (1795) at 10 : 1
  • -41.2%