Vietnam to suspend two denomination currency notes next year

On September 28, the State Bank of Vietnam announced suspending circulation of VND10,000 and VND20,000 denomination paper currency, as per the Prime Minister’s directive, effective from January 1, 2013.

The above two denomination notes have been suspended because they have been made from cotton, and from January 1, 2013 both the bill denominations will no longer be valid in Vietnam.

From January 1, 2013, any individual or organization with the two above denomination notes will be permitted to exchange them for polymer made bills with equivalent value at branches of the State Bank of Vietnam and at credit organizations, foreign banks and local State Treasury offices.

By VGP - Translated by Uyen PHuong

Other news