Validity of a contract denominated in US$ and settled in VND

According to newspaper report, in June 2015, a district court in Hanoi has just held that an apartment sale and purchase contract the price of which is denominated in USD but settled in VND is not invalid. Instead, the price of such contract will be converted into VND at the exchange rate of the signing date of such contract. This is just a first instance judgment which can be changed or cancelled by higher courts. However, this decision has helped to clarify the long-term uncertainty about the validity of a contract denominated in US$ but settled in VND.