5 Xu Ho Chi Minh Trail Note; third issue

The "Ho Chi Minh Trail notes" — xu denominations issued for use along the supply corridor running through Laos and Cambodia — were produced specifically for military and logistical personnel operating outside the northern monetary zone. They circulated in a shadow economy where standard northern Vietnamese currency was impractical or politically inconvenient to use. The third issue of this series falls within the final years of active American bombing of the Trail network.

These small-denomination xu notes were not redeemable through ordinary banking channels and had no meaningful exchange relationship with southern currency. After reunification in 1975, they became immediately obsolete.