State Bank to Circulate VND20,000 Polymer Banknotes This Month
The State Bank of Vietnam (SBV) will put a new polymer banknotes with denomination of VND20,000 into circulation from May 17 after it has received approval from the government.
The issue of the polymer bills is aimed to improve currency longevity and cleanness, impede counterfeits, and save state funds in money issuance, said SBV’s press release.
Such banknotes will also meet the payment demand for small-value money because the Government has not printed more cotton bills worth less than VND20,000 for a long time.
The current VND20,000 paper notes will be still valid, the SBV said.
The newest bill is the fourth polymer note in circulation in Vietnam beside the VND50,000, VND100,000 and VND500,000 denomination notes are already in use.
Banks have also asked to issue VND10,000 polymer notes to replace the paper bills, however the State bank said it has not released a definite time for the issuance.
Vietnam first launched polymer notes in 2003.
VnExpress, VNS
Vietnamese
