100 Đồng

The National Bank of Vietnam — the southern state's central bank established in 1954 after the Geneva Accords partitioned the country — issued this note during a period when the piastre-based dong was under sustained inflationary pressure from war expenditure and US dollar inflows through the military economy. Thomas De La Rue handled production for much of the southern series, a common arrangement for non-aligned and Western-backed governments that lacked domestic intaglio capacity.

P#26 is among the later issues before the series was superseded by higher denominations made necessary by accelerating inflation in the early 1970s.