vietnam currency,  money exchange...

Exchange rates in Vietnam

For official exchange rates daily between Vietnam Dong and other currencies please visit https://www.vietcombank.com.vn/KHCN/Cong-cu-tien-ich/Ty-gia

What Is Vietnam Currency?

The Vietnam official currency is called Dong. Its symbol is ₫ while the code is VND. Currently, only the State Bank of Vietnam has the legal title to issue Vietnamese banknotes.
According to current Vietnamese law, the Vietnam Dong is the only legal means of payment in Vietnam, which means that goods or services in the Vietnamese market must be listed in VND.

Denominations of Vietnamese currency

Banknotes in circulation in Vietnam range from denominations of 100 Dong to 500,000 Dong. However, the habit of rounding and not saving the small denominations of the Vietnamese is causing the 100 Dong and 200 Dong notes on the bank to disappear. The 500 Dong and 1,000 Dong banknotes are in the same situation but are still in circulation. Coins are available in 200 Dong, 500 Dong, 1000 Dong, 2000 Dong and 5000 Dong but due to inflation, they have not been minted since 2013 but it is still legal to trade in coins. Because of memory value, many decide to keep them for collection.

Currently, both polymer banknotes and paper banknotes are used in Vietnam.
- Polymer banknotes exist of 10,000 Dong, 20,000 Dong, 50,000 Dong, 100,000 Dong, 200,000 Dong, 500,000 Dong
- Paper banknotes that have often circulated in denominations of 500 Dong, 1,000 Dong, 2,000 Dong, 5,000 Dong.

How to change and withdraw cash in Vietnam?

As explained above, the only legal commercial currency in Vietnam is the Dong (VND). However, it is almost impossible to exchange Dong in advance from your country because Vietnamese currency is not so popular all around the world. This means that if you travel to Vietnam, you can bring your currency (USD, Euro, ect�) directly and exchange it for Vietnamese currency.

In Vietnam, you can exchange and withdraw money from:
- Bank: this is the safest transaction method, ensuring that you receive real, new banknotes to use during your trip. Please note that you need to bring your passport with you to exchange or withdraw Vietnam money. Most banks are open from Monday to Friday during business hours while only a few are open on Saturday mornings. Some big banks in Vietnam are Vietcombank, Techcombank, Agribank, BIDV, Vietinbank,...
- ATMs: these are available everywhere and will make it easy for you to withdraw Vietnam money at any time of the day. However, these ATMs usually have a limit of 2,000,000 - 5,000,000 VND for a single withdrawal. My only caveat is that some ATMs can swallow your card, so you have to prepare a reserve card. Some international banks such as Citibank, HSBC and ANZ allow larger withdrawals, limited to a maximum of VND 8,000,000 and VND 10,000,000.
- Hotels, restaurants, jewellers: some locations will allow money to be exchanged (but not all places with currency exchange signs are allowed). You should pay special attention to the exchange rate, the integrity of the banknotes and, if possible, ask a friend or guide to help you see if the banknotes are real or fake.

Withdrawal fees: In addition to any fees you may have to pay to your bank for a cash withdrawal abroad, you will also have to pay an additional fee to the bank operating the ATM. Normally, this is between 30,000 VND and 50,000 VND, with some even charging 100,000 VND for each withdrawal.

What are the payment methods in Vietnam?

There are many convenient payment methods for tourists in Vietnam. Take a look at some of the following
- Cash: this is the most convenient and fastest payment method that you can use anywhere, from fancy restaurants to small shops and even markets. However, try to familiarise yourself with banknotes and exchange rates when you choose to pay in cash!
- Credit cards: can be used in some restaurants, hotels and souvenir shops. Some taxi companies also accept credit cards such as Mai Linh, but not all cars are equipped with Pos machines. Some places may accept your credit card with a fee of 1.7 - 2% for Visa/Master cards and about 4% for Amex cards. Therefore, you should explicitly ask for this fee to avoid unexpected payments. Visa/Master cards in Vietnam are more popular than Amex, so you should also consider and ask in advance if the place where you buy or use the service accepts this card.
- Payment apps: currently in Vietnam it is quite popular to pay via a number of mobile apps such as Momo, Viettel Pay, Zalopay. By simply downloading these apps and linking your current account to the app, you can easily pay via QR codes at convenience stores, supermarkets, restaurants,....
- Traveller's cheques: Not widespread in Vietnam, so to avoid any unforeseen circumstances you do not need to prepare them during your trip.

Our advice is to use cash and credit cards flexibly. You can bring your own country's currency and exchange it when you arrive in Vietnam. You can change a little bit, without changing all your money at once to avoid being confused by too many zeros in Vietnamese banknotes. In fact, with only about 40 euros you can already become a millionaire in Vietnam.
As for using your card, consider when you can use it where the commissions are good and well informed in advance.

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