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100 000 Đồng

Issuer State Bank of Vietnam
Year 2004-2023
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Size 144 × 65 mm
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Obverse description Portrait of President Hồ Chí Minh (1890–1969) at centre-right, rendered in intaglio against a red and orange guilloche underprint; the national coat of arms of the Socialist Republic of Vietnam appears to the left, accompanied by the denomination and issuing authority inscriptions.
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Protection description Portrait watermark of Hồ Chí Minh and a stylised flower visible when held to light; embedded security thread with microprinting; optically variable ink on denomination numeral
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Comments

Vietnam's 100,000 Đồng was among the first polymer notes produced domestically at the Hanoi printing plant — a deliberate political decision to demonstrate self-sufficiency in currency production after decades of contracting foreign printers. The Guardian® substrate is manufactured by CCL Secure (formerly Innovia), but the actual printing has been handled in-house since the facility acquired the necessary equipment in the early 2000s.

Counterfeiting of the earlier cotton-paper 100,000 Đồng had become a serious enough problem by the late 1990s that the State Bank accelerated the polymer transition for its highest-value notes. The P#122 series has run continuously since 2004 with no major design revision — an unusually long uninterrupted print run for a denomination at this value level.

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