Which of the following is the currency of Vietnam?
A. Rupiah
B. Baht
C. Dong
D. Yuan
Explanation:
The currency of Vietnam is the Vietnamese Dong, denoted by the symbol “₫” or “VND”.
The Vietnamese Dong: Vietnam’s Currency
The Vietnamese Dong (VND) serves as the official currency of Vietnam, a vibrant Southeast Asian nation known for its rich cultural heritage, picturesque landscapes, and rapid economic growth. The Dong, represented by the symbol “₫,” plays a crucial role in facilitating trade, commerce, and financial transactions within the country.
Since its introduction in 1978, the Vietnamese Dong has gone through various denominations and revisions, reflecting Vietnam’s evolving economic landscape. The currency is issued and regulated by the State Bank of Vietnam, the country’s central bank responsible for maintaining monetary stability and promoting economic growth.
One important aspect of the Vietnamese Dong is its subdivision into smaller units. The currency is divided into multiple denominations, including banknotes and coins. Banknotes are available in denominations of 1000₫, 2000₫, 5000₫, 10,000₫, 20,000₫, 50,000₫, 100,000₫, 200,000₫, and 500,000₫. Additionally, there are coins available in denominations of 200₫, 500₫, 1000₫, 2000₫, and 5000₫. These different denominations cater to the varying needs of daily transactions in Vietnam.
The Vietnamese Dong has played a significant role in supporting Vietnam’s economic growth and development. Over the years, Vietnam has experienced rapid industrialization and emerged as a global manufacturing hub. The currency’s stability and exchange rate management have been vital in attracting foreign investment and fostering economic activities.
Furthermore, the Vietnamese Dong reflects the nation’s resilience and determination to overcome economic challenges. Vietnam has made significant strides in poverty reduction and improving living standards for its population. The currency’s value and effective monetary policies have contributed to the country’s economic stability and sustainable growth.
While the Vietnamese Dong primarily circulates within Vietnam, it is important to note that its international acceptance is limited. Due to currency exchange regulations, it may be challenging to use the Dong for transactions outside of Vietnam. Travelers and individuals engaging in international trade often convert their Dong into widely accepted currencies like the US Dollar or Euro.
In recent years, the Vietnamese government has undertaken initiatives to enhance the Dong’s international recognition and promote its use in regional trade. Efforts are being made to strengthen economic ties with neighboring countries and establish mechanisms that facilitate cross-border transactions in local currencies.
In conclusion, the Vietnamese Dong serves as the official currency of Vietnam, representing the nation’s economic progress and stability. As Vietnam continues to evolve as a dynamic player in the global economy, the Dong remains a symbol of the country’s growth and resilience. Whether exploring the bustling streets of Hanoi, enjoying the scenic beauty of Ha Long Bay, or engaging in business activities, understanding the Vietnamese Dong is essential for anyone visiting or doing business in Vietnam.
Current Affairs 2024 MCQs by CSS MCQs
CURRENT AFFAIRS MCQs CSS PAST PAPER QUIZZES
2024JulyJuneMayAprMarFebJan 2023DecNovOctSepAugJulyJuneMayAprilMarFebJan 2022DecNovOctSepAugJulyJuneMayAprilMarFebJan 2021DecNovOctSepAugJulJunMayAprilMarFebJan 2020DecNovOctSepAugJulJunMayAprilMarFebJan PPSC, FPSC Past Papers Sub Inspector MCQs PaperHere, you can seek Current Affairs MCQs for the years 2021, 2022, and 2023. Covering issues of Pakistan including political, economic, and social affairs, as well as the country's relations with neighbours and global entities. Current Affairs MCQs CSS Past Paper QuizzesDomestic Affairs MCQsOur repository offers MCQs covering Pakistan’s Domestic Affairs such as Political, Economic, and Social Issues. External Affairs MCQsMCQs of Pakistan’s External Affairs cover Pakistan’s relations with its Neighbors (India, China, Afghanistan, Russia), the Muslim World (Iran, Saudi Arabia, Indonesia, Turkey) and with the United States and with Regional and International Organizations (UN, SAARC, ECO, OIC, WTO, CW). Global Issues Multiple Choice QuestionsWe also have a broad range of Global Issues Multiple Choice Questions. Additionally, you can also Submit an MCQ of Current Affairs. Current Affairs Online QuizIf you are willing to take Current Affairs Online Quiz, Click HERE. MCQs of Current Affairs 2022 & 2023Here, you can seek Current Affairs 2021, 2022 & 2023 MCQs of Pakistan Current issues 2021, 2022 & year 2023. Pakistan Current Affairs sample test and practise questions for job Test. Current Affairs of Pakistan, first in Pakistan, Important issues, current govt etc. Here you will find updated Current affairs of Pakistan Mcqs. Furthermore, there are lots of Global Issues Multiple Choice Questions. You can also Submit MCQ of Current Affairs. If you are willing to take Current Affairs Online Quiz, Click HERE
|