Monetary agreement between France and South Vietnam on the termination of the common currency area with Cambodia and Laos; effective immediately
31.12.1954
Ordinance [No. 8] on the establishment of the National Bank of (South) Vietnam; effective immediately
30.09.1955
Start of currency exchange: - 30.09.1955: Start of issuance of the new banknotes. - 07.11.1955: Demonetization of the Indochinese banknotes.
Valuation Regimes
1955
Fixed rate against French Franc (1795)
1955-1972
Fixed rate against US Dollar
1972-1975
Variable rate
Rate Arrangements
01.01.1955
Fixed
French Franc (1795) at 10 : 1
±0.0%
17.11.1955
Fixed
US Dollar at 1 : 35
±0.0%
18.06.1966
Fixed
US Dollar at 1 : 80
-56.3%
08.07.1972
Variable
initially: US Dollar at 1 : 425
-81.2%
Time Period: 1975-1978
Currency: 2nd South Vietnamese Dong
Transition
1 : 500
Sub-units
Dong / 100 Xu
ISO4217
none (informal: VSD)
Timeline
06.06.1975
Decree [No. 04/PC-75] on the reconstitution of the National Bank of (South) Vietnam as branch of the State Bank of (North) Vietnam; effective immediately
21.09.1975
Proclamation of a currency exchange; effective 22.09.1975: - Between 11am and 11pm all cash had to be presented for exchange at a rate of 1 : 500 (in the borderland to the North, the ratio was 3 : 1'000) - Per family a maximum of 100'000 Dong (1955) were exchanged, another 100'000 Dong (1955) could be deposited on a blocked account, excess cash was invalidated - During 1976, a monthly instalment of 30 Dong (1975) could be withdrawn, then the account was closed.
Valuation Regimes
1975-1976
Fixed rate against US Dollar
1976-1978
Fixed rate against against IMF Special Drawing Rights (SDR) unit and the North Vietnamese Dong (1959)
Rate Arrangements
22.09.1975
Fixed
US Dollar at 1 : 1.51
±0.0%
16.01.1976
Fixed
US Dollar at 1 : 1.85
-18.4%
??.09.1976
Fixed
SDR at 1 : 2.131 - North Vietnamese Dong (1959) at 1 : 0.80