Vietnam, known for its vibrant culture and breathtaking landscapes, uses the Vietnamese Dong (VND) as its official currency. Understanding the local currency, how to exchange money, and the best practices for using ATMs and credit cards can significantly enhance your travel experience. This detailed guide provides everything you need to know about handling money in Vietnam.

The Vietnamese Dong (VND)

The Vietnamese Dong (VND) is the official currency of Vietnam.

The symbol for the dong is "₫," and the ISO code is "VND."

Banknotes are the most common form of currency, with denominations ranging from 1,000 VND to 500,000 VND. Coins are rarely used in everyday transactions.

Key Denominations

1,000 VND

2,000 VND

5,000 VND

10,000 VND

20,000 VND

50,000 VND

100,000 VND

200,000 VND

500,000 VND

Currency Valuation Against Major Currencies

As of the latest update, here are the approximate exchange rates for some major currencies:

1 USD (United States Dollar) ≈ 23,000 VND

1 EUR (Euro) ≈ 27,000 VND

1 GBP (British Pound) ≈ 31,000 VND

1 AUD (Australian Dollar) ≈ 16,000 VND

1 CAD (Canadian Dollar) ≈ 17,000 VND

1 INR (Indian Rupee) ≈ 280 VND

1 JPY (Japanese Yen) ≈ 200 VND

These rates are approximate and can fluctuate. It’s advisable to check the current exchange rates before your trip.

Currency Conversion Tips

Exchange at Banks or Official Exchange Counters

For the best rates and security, exchange your money at banks or official exchange counters. Avoid street money changers as they may offer poor rates or counterfeit notes.

ATMs

ATMs are widely available in cities and tourist areas. They dispense cash in VND and usually offer competitive exchange rates. However, be aware of withdrawal fees from both your home bank and the Vietnamese ATM.

Avoid Large Denominations

While 500,000 VND notes are common, they can be difficult to use for small purchases. Keep a mix of smaller denominations for convenience.

Count Your Cash

Always count your cash immediately after exchanging to avoid any discrepancies.

Using Credit and Debit Cards

Credit Cards

Major credit cards like Visa, MasterCard, and American Express are widely accepted in hotels, upscale restaurants, and shops in urban areas. However, smaller establishments and rural areas may only accept cash.

Notify Your Bank

Inform your bank of your travel plans to avoid your card being blocked for suspicious activity.

Foreign Transaction Fees

Check if your bank charges foreign transaction fees. Some travel-friendly cards waive these fees.

Keep Cash Handy

While cards are convenient, always carry some cash for small purchases, transportation, and places that do not accept cards.

Tips for Handling Money in Vietnam

Use ATMs Wisely

Withdraw larger amounts to minimize fees but ensure you have a safe place to store your cash.

Be Cautious with Tipping

Tipping is not mandatory in Vietnam, but it is appreciated. Small tips (10,000-20,000 VND) for good service in restaurants or for hotel staff are common.

Understand Pricing

Prices are often quoted in thousands of VND. Make sure you understand whether the price quoted is per item or per unit to avoid misunderstandings.

Secure Your Belongings

Keep your money, cards, and valuables secure, especially in crowded areas to avoid pickpocketing.

Conclusion

Understanding the currency and financial practices in Vietnam will help ensure a smooth and enjoyable trip. By following these tips and being prepared, you can handle your finances confidently while exploring this beautiful country.