The official currency of Vietnam, abbreviated as VND and issued by the State Bank of Vietnam. The dong operates under a managed floating exchange rate system where the central bank sets a daily reference rate with an allowed trading band. Vietnam's export-oriented manufacturing economy, particularly in electronics, textiles, and footwear, supports steady foreign currency inflows that influence the dong's value.
Example
“USD/VND edged higher to 24,250 after the State Bank of Vietnam widened the trading band to allow greater exchange rate flexibility.”