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Clubs · Oct 5, 2024 · 12 min read
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Discover Vietnamese Dong and useful tips for your travel with iGuide.ai
Before embarking on your journey to explore Vietnam, it is essential to familiarize yourself with the local currency - the Vietnamese Dong (VND). This currency not only reflects Vietnam's economic diversity but is also the key to exploring the vibrant local markets. Join iGuide.ai to learn about the Vietnamese Dong and how to use it effectively during your trip.
The Vietnamese currency is called the Vietnamese dong (VND), with the symbol "₫". The word "dong" comes from the copper material used to mint the country's first coins. Since 1978, the dong has been the official currency of Vietnam and is issued by the State Bank of Vietnam.
Currently, there are two types of banknotes in circulation: Polymer banknotes with denominations of 500,000 VND, 200,000 VND, 100,000 VND, 50,000 VND, 20,000 VND, and 10,000 VND; and Cotton banknotes with denominations of 5,000 VND, 2,000 VND, 1,000 VND, 500 VND, and 200 VND. However, due to their small value, the last two denominations are rarely used. Coins have been discontinued in Vietnam since 2011.
Vietnam has a long history of using different currencies, starting with Chinese coins during the Han Dynasty. During the French colonial period, the Piastre, also known as "Bac", was used as the currency. Later, the Bank of Indochina issued banknotes depicting traditional costumes of Vietnam, Laos and Cambodia, replacing the Piastre. In 1945, the Democratic Republic of Vietnam introduced the first Vietnamese currency - aluminum coins to replace the existing currencies.
The Vietnamese Dong (VND) has a history closely linked to complex socio-political changes in Vietnam. The Dong was introduced as the official currency in Northern Vietnam on May 3, 1946, replacing the French Indochinese Piastre. After the reunification of North and South Vietnam in 1976, the Dong became the unified currency of the whole country.
Despite economic difficulties and inflation over the years, the Vietnamese government has kept its currency modern and stable, maintaining Vietnam’s competitive edge in the world market. The Dong continues to be an important component of the national economic landscape, reflecting Vietnam’s history and economic progress.
Please note that the exchange rate of the Vietnamese Dong can change frequently and may vary depending on the source of information. This table provides the exchange rates according to Vietcombank, updated as of 12/11/2024 08:11. At different transaction points and times, exchange rates and fees may vary, so please check before making a transaction to ensure you get the best value for your money.
Currency Code | Currency Name | Cash Buying | Telegraphic Buying | Selling |
AUD | AUSTRALIAN DOLLAR |
In Vietnam, cash remains the most common and widely accepted method of payment. It is important to carry cash, especially in small towns, markets and rural areas where electronic payment capabilities may not be readily available. Cash is often preferred by street vendors, small businesses and local markets. For various transactions, a mix of small and large bills is recommended. Some tourist-focused establishments accept US dollars for larger transactions, especially in larger hotels and restaurants, but payment in VND is still more common and change can be received in VND.
Credit cards are widely accepted in urban areas and tourist-centric locations throughout Vietnam. Hotels, upscale establishments, shopping malls, large retailers and department stores generally accept major credit cards such as Visa, MasterCard and, to a lesser extent, American Express. Conversion rates and card swipe fees will be set by your card provider. Even though using a credit card is safe and convenient, it is a good idea to have some cash on hand in case using a credit card is impractical.
Here are some tips for paying and exchanging Vietnamese currency that tourists should keep in mind:
16,377.75 |
16,903.25 |
CAD | CANADIAN DOLLAR | 17,722.53 | 17,901.54 | 18,475.93 |
CHF | SWISS FRANC | 28,013.22 | 28,296.18 | 29,204.10 |
CNY | CHINESE YUAN | 3,420.74 | 3,455.29 | 3,566.16 |
DKK | DANISH KRONE | - | 3,550.58 | 3,686.57 |
EUR | EURO | 26,289.73 | 26,555.28 | 27,731.37 |
GBP | UK POUND STERLING | 31,737.15 | 32,057.73 | 33,086.34 |
HKD | HONG KONG DOLLAR | 3,173.59 | 3,205.64 | 3,308.50 |
INR | INDIAN RUPEE | - | 299.17 | 311.13 |
JPY | JAPANESE YEN | 158.82 | 160.42 | 168.06 |
KRW | KOREAN WON | 15.62 | 17.36 | 18.84 |
KWD | KUWAITI DINAR | - | 82,192.39 | 85,478.73 |
MYR | MALAYSIAN RINGGIT | - | 5,675.01 | 5,798.81 |
NOK | NORWEGIAN KRONE | - | 2,250.40 | 2,345.96 |
RUB | RUSSIAN RUBLE | - | 251.00 | 277.86 |
SAR | SAUDI ARABIAN RIYAL | - | 6,722.44 | 6,991.23 |
SEK | SWEDISH KRONA | - | 2,289.22 | 2,386.42 |
SGD | SINGAPORE DOLLAR | 18,499.77 | 18,686.64 | 19,286.22 |
THB | THAI BAHT | 646.83 | 718.70 | 746.23 |
USD | US DOLLAR | 25,090.00 | 25,120.00 | 25,480.00 |
For Australian travelers, the Australian Dollar (AUD) can be exchanged for Vietnamese Dong at authorized banks and exchange counters. As of the update on 12/11/2024 08:11, one AUD is approximately equivalent to 16,213.98 VND when the bank buys directly at the counter, and 16,377.75 when buying via transfer. When exchanging money, check the exchange rate and fees to ensure you get the best value for your money.
Canadian travelers can exchange the Canadian Dollar (CAD) for Vietnamese Dong at authorized banks and exchange counters. As of the update on 12/11/2024 08:11, one CAD is approximately equivalent to 17,722.53 VND when the bank buys directly at the counter and 17,901.54 VND when buying via transfer. When exchanging money, ensure to check the current exchange rate and associated fees to get the best value for your money.
Swiss travelers can exchange the Swiss Franc (CHF) for Vietnamese Dong at authorized banks and exchange counters. As of the update on 12/11/2024 08:11, one CHF is approximately equivalent to 28,013.22 VND when the bank buys directly at the counter and 28,296.18 VND when buying via transfer. Check the rates and related fees before exchanging money.
Chinese travelers can exchange the Chinese Yuan (CNY) for Vietnamese Dong at authorized banks and exchange counters. As of the update on 12/11/2024 08:11, one CNY is approximately equivalent to 3,420.74 VND when buying directly at the counter and 3,455.29 VND when buying via transfer. Check the rates and fees to ensure you get the best value.
Travelers from Denmark can exchange the Danish Krone (DKK) for Vietnamese Dong at authorized banks and exchange counters. Currently, only the transfer purchase rate is available at 3,550.58 VND for one DKK. Confirm the rates and fees when needed to exchange money.
Travelers from the EU region can exchange the Euro (EUR) for Vietnamese Dong at authorized banks and exchange counters. As of the update, one EUR is approximately equivalent to 26,289.73 VND when buying directly and 26,555.28 VND when buying via transfer. Ensure to check the rates and fees before making a transaction.
Travelers from the United Kingdom can exchange the British Pound (GBP) for Vietnamese Dong. As of the update, one GBP is valued at approximately 31,737.15 VND when buying directly and 32,057.73 VND when buying via transfer. Check the rates and fees for the best value.
Travelers from Hong Kong can exchange the Hong Kong Dollar (HKD) for Vietnamese Dong. As of the update, one HKD is approximately equivalent to 3,173.59 VND when buying at the counter and 3,205.64 VND when buying via transfer. Consider checking the rates and fees.
Indian travelers can exchange the Indian Rupee (INR) for Vietnamese Dong at authorized banks and exchange counters. Currently, the rate only applies to transfer transactions, at 299.17 VND for one INR. Evaluate the rates and fees before exchanging.
Japanese travelers can exchange the Japanese Yen (JPY) for Vietnamese Dong. One JPY is valued at approximately 158.82 VND when buying directly and 160.42 VND when buying via transfer. Check the rates and fees before making a transaction.
Korean travelers can exchange the Korean Won (KRW) for Vietnamese Dong. As of the update, one KRW is valued at approximately 15.62 VND when buying cash and 17.36 VND when buying via transfer. For the best experience, check the rates and fees before exchanging money.
Travelers from Kuwait can exchange the Kuwaiti Dinar (KWD) for Vietnamese Dong. The current rate only applies to transfer transactions, at 82,192.39 VND for one KWD. Before exchanging, confirm the rates and fees to ensure a reasonable exchange value.
Malaysian travelers can exchange the Malaysian Ringgit (MYR) for Vietnamese Dong. Only applicable for transfer transactions with a rate of 5,675.01 VND for one MYR. Check the rates and fees when making a transaction.
Travelers from Norway can exchange the Norwegian Krone (NOK) for Vietnamese Dong. The current rate only applies to transfer transactions, at 2,250.40 VND for one NOK. Evaluate the rates and fees for optimal benefits.
Travelers from Russia can exchange the Russian Ruble (RUB) for Vietnamese Dong. The current rate only applies to transfer transactions, at 251.00 VND for one RUB. Check the rates and fees to ensure efficiency.
Travelers from Saudi Arabia can exchange the Saudi Arabian Riyal (SAR) for Vietnamese Dong. Only the transfer rate is available at 6,722.44 VND for one SAR. Consider the rates and fees for a reasonable choice.
Travelers from Sweden can exchange the Swedish Krona (SEK) for Vietnamese Dong. The current rate only applies to transfer transactions, at 2,289.22 VND for one SEK. Check the fees and rates before converting.
Travelers from Singapore can exchange the Singapore Dollar (SGD) for Vietnamese Dong. As of the update, one SGD is valued at approximately 18,499.77 VND when buying directly and 18,686.64 VND when buying via transfer. Before making a transaction, check the rates and fees to ensure maximum benefits.
Travelers from Thailand can exchange the Thai Baht (THB) for Vietnamese Dong. Currently, one THB is valued at approximately 646.83 VND when buying cash and 718.70 VND when buying via transfer. Ensure to check the rates and fees.
American travelers can exchange the US Dollar (USD) for Vietnamese Dong. As of the update, one USD is valued at approximately 25,090.00 VND when buying cash and 25,120.00 VND when buying via transfer. Check the rates and fees for the best value.
Before exchanging money, it is important to know the current exchange rates and any associated fees. In Vietnam, currency can be exchanged at various locations, offering convenience and accessibility. When you arrive in Vietnam, one of the first things you need to do is exchange your currency for Vietnamese Dong. There are several options available for exchanging Vietnamese currency:
You should research and compare exchange rates and fees among different options before deciding where to exchange your Vietnamese currency. This can help save time and money and ensure that you have enough Vietnamese currency to enjoy your trip in Vietnam.
Vietnam’s currency can be a little tricky to navigate for first-time visitors, but with these tips in mind, you can handle your money with confidence as you travel through the country. Be sure to check for compatible ATMs, beware of counterfeit notes and street vendors using similar colors to Vietnamese currency, and consider keeping smaller denominations on hand. By following these guidelines, you can enjoy your travels throughout Vietnam without any currency issues.
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