checks out new bills at the Viet Nam Bank for Private
Enterprises headquarters in Ha Noi. — VNS Photo Truong
Vietnamese sneak a peek at no-tear notes, coins
HA NOI —
Thousands of people crowded into banks across Viet Nam on
Wednesday to see for themselves the new bank notes and coins
issued by the State Bank of Viet Nam.
At the Ha
Noi head office of VP Bank the new money quickly ran out as
everyone wanted a sample of the new notes, valued at VND500,000
and VND50,000, and coins of VND5,000, VND1,000 and VND200.
looks really nice," said the bank’s first customer, a
resident of Hoang Cau Street, as she took possession of a
agreed the tear-resistant polymer notes were at least the equal of
other currencies they had seen abroad. For a 65-year-old woman on
Ton Duc Thang Street, the big excitement was seeing coins for the
first time in 20 years.
residents wondered if the VND200 coin would be of much use, given
its tiny value, and suggested a VND500 coin would be more useful
for use on buses, where fares were sometimes VND2,500.
of the Bank for Foreign Trade of Viet Nam (Vietcombank) said she
had changed her own money as she planned to give the new notes to
her family as lucky gifts in the coming lunar new year festival, Tet.
afternoon Vietcombank’s two ATMs at its Ha Noi headquarters were
already stocked with new notes, the head of the bank’s treasury
department, Tran Thi Hoa, said.
officials said many people rushed to change their money out of
curiosity, rather than any real need for cash.
therefore set a limit of VND650,000 in new money per person,
comprising one VND500,000 note, two VND50,000 notes and 10
Even so, its
entire VND15 billion (US$962,000) supply of new notes and coins
was handed out before the close of business, public relations
officer Nguyen Huu Kien said.
officials suggested that businesses would be the main
beneficiaries of the new money.
will definitely be easier for us businesses to make our cash
transactions, given that banking transactions are currently not
yet developed in Viet Nam," said Nguyen Trung Vu, director of
Truong Thanh Century 21 company.
notes were issued, experts feared the new bills would drive up the
price of goods. However, prices have remained stable while the US
dollar and gold prices have gone down. — VNS