Continuous vacuum ultraviolet (VUV) spectra of diatomic inert-gas molecules are ideal objects of investigation when solving many fundamental and applied problems. Problems in plasma physics, molecular spectroscopy, development of sources of VUV radiation, and formation of inverted media in gas lasers (including those in the VUV range) are some of the principal ones. This review covering the last two decades discusses experimental and theoretical methods of studying the VUV spectra of dimers of inert gases. The principal parameters of dimers, and the rate constants for various processes involving them, are given. The most interesting practical applications of the spectroscopic properties of these molecules are examined.