50 000 Đồng

This note belongs to the third series of đồng banknotes issued after the 1985 redenomination failed to contain inflation — by the early 1990s, Vietnam's money supply had expanded so aggressively that a 50,000-đồng denomination, unthinkable a decade earlier, had become a practical necessity for everyday transactions. The State Bank had already issued a 50,000 note in 1990 (P#105); this 1994 paper issue ran alongside the polymer versions being introduced concurrently as the government began transitioning to more durable substrates.

Watermark security on paper issues of this period was relatively basic, and counterfeiting of high-denomination đồng notes was a documented problem throughout the 1990s — one reason the polymer program accelerated.