Vietnam - P-124 - 2019 dated 500,000 Vietnamese Dong Polymer Note - Extremely Popular Foreign Paper Money

500,000 Dong. P-124o Polymer Note. The Vietnamese Dong has served as the official currency of Vietnam since May 3, 1978, when it was issued by the State Bank of Vietnam. Prior to this, the Dong was utilized in both North and South Vietnam, replacing the French Indochinese piastre. Initially, the Dong was divided into 10 hào, with each hào further subdivided into 10 xu; however, these subdivisions are no longer in circulation. Since 2012, the prevalence of Dong coins has significantly diminished, and by 2014, they were largely rejected in retail transactions, although some banks continued to accept them. As of May 2021, the Vietnamese Dong ranks as the third weakest currency in circulation worldwide, with an exchange rate of 23,112.04 Dong per US dollar, surpassed only by the Venezuelan bolívar and the Iranian rial. Following the reunification of Vietnam, the Dong was consolidated on May 3, 1978, with one new Dong equating to one Northern Dong or 0.8 Southern "liberation" Dong. On September 14, 1985, the Dong underwent a revaluation, with one new Dong being equivalent to 10 old Dong, which initiated a prolonged period of chronic inflation that persisted into the early 1990's.