Vietnamese Dong
a.k.a. VND
Vietnam's currency, managed by the central bank within a band around a daily reference rate against the…
In plain English
Vietnam's currency, managed by the central bank within a band around a daily reference rate against the dollar.
The Vietnamese dong (VND) is Vietnam's money. The State Bank of Vietnam sets a daily reference rate against the US dollar and lets the dong trade only within a band around it. Prices run to many zeros: a cup of coffee can cost tens of thousands of dong.
Vietnam has become a manufacturing hub, so export strength and foreign investment flows support the dong, while US trade policy is a recurring risk.
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