The State Bank of Vietnam (SBV; ) is the central bank of Vietnam. Organized as a ministry-level body under the Government of Vietnam, it is the sole issuer of the national currency, the Vietnamese đồng.[3] As of 2024 it holds over US$100 billion in foreign exchange reserves.[4]
History
When Indochina was under French rule, the colonial government governed the Indochinese monetary system through Banque de l'Indochine, which also acted as a commercial bank in French Indochina.
After the August Revolution in 1945, the government of the Democratic Republic of Vietnam gradually attempted to exercise a monetary system independent from France. On 6 May 1951, president Hồ Chí Minh signed decree 15/SL on establishment of Vietnam National Bank (Ngân hàng Quốc gia Việt Nam). On 21 January 1960, the governor of the bank signed an ordinance on behalf of the prime minister to rename the bank State Bank of Vietnam (Ngân hàng Nhà nước Việt Nam).
After the fall of Saigon, the two Vietnams were united but not until July 1976 did the two countries’ administrations and institutions unite.