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Vietnam Currency Complete Details | वियतनाम में खाने का खर्च | Indian in Vietnam |

#travel #international #viral #currency The piastre (known in Vietnam as "silver"), was the currency of French Indochina between 1885 and 1952. North Vietnam Main article: North Vietnamese dong In 1946, the Viet Minh government (later to become the government of North Vietnam) introduced its own currency, the dong, to replace the French Indochinese piastre at par. Two revaluations followed, in 1951 and 1959; the first was at a rate of 100:1, the second at a rate of 1,000:1. South Vietnam Main article: South Vietnamese dong South Vietnam 500 dong banknote issued in 1966. Notes dually denominated in piastres and dong were issued in 1953 for the State of Vietnam, which evolved into South Vietnam in 1954. On 22 September 1975, after the fall of Saigon, the currency in South Vietnam was changed to a "liberation dong" worth 500 old Southern dong. United Vietnam and inflation After Vietnam was reunified, the dong was also unified on 3 May 1978. One new dong equalled one Northern dong or 0.8 Southern "liberation" dong. On 14 September 1985, the dong was revalued again, with one new dong worth 10 old dong. At that time, Vietnamese economists believed that revaluing the currency would increase its value, but it turned out to have the opposite effect: savings of many people were wiped out, the currency experienced unprecedently heavy inflation that peaked at 774.7% in 1986 and prices skyrocketed. For example, in 1986, the price of agricultural products increased by 2000% compared to ten years before. To aggravate this problem, the government banned all forms of non-state-owned internal trade, which they believed to be capitalistic, resulting in an economic crisis so severe that Tố Hữu referred to it as a "vertical downturn". Despite the inflation rates having stabilised as part of the Đổi Mới reforms, especially during the 1990s and early 2000s, the effects of the crisis still last in the value of the dong, one of the lowest in the world today. if you like this video please don't forget to subscribe our channel 🙏🙏