VIETNAM CURRENCY – GET FAMILIRIZED AND TIPS FOR THE FIRST-TIME TRAVELERS
- Mo Endless Vietnam
- Aug 15
- 5 min read
Updated: Aug 16
The currency in Vietnam is the Vietnamese Đồng, of which symbol is ₫ while the code is VND. Its name comes from the Vietnamese word for “copper.”
In addition, Vietnam Dong has been called with different names such as: the strangest currency or funny money. Why is that? Let’s learn more about Vietnam Dong with Endless Vietnam.
Table of Contents
1. GET USED TO VIETNAM DONG (VND)
The first and foremost thing to learn about Vietnam Dong is its value. Most of visitors are so surprised to find that Vietnamese people are spending “million dongs” as if they were millionaires. In contrast with the overwhelm, the sad fact is that the Vietnamese đồng is the second-lowest-valued currency in the world (just behind Iranian Rial).
With that said, having a million Vietnamese dong does not make you wealthy.
To get an idea of typical exchange rates for Vietnam money, refer the approximate rates in June 2024 for the đồng with popular currency pairings.
For the updated conversion rates, use an online currency converter or check your preferred money transfer app. We recommend you use the Vietcom Bank for checking the exchange rates.
American dollar (1 USD) = VND26,050
British pound ≈ VND36,623
Euro ≈ VND29,810
Australian dollar ≈ VND16,625
Japanese yen ≈ VND171.77
Imagine you are booking a day tour with the price at US$50, you will have to pay 1.302.500₫ (Yes, one million three hundred and two thousand five hundred đồng); and you are becoming a millionaire when travelling in Vietnam.
TIP: If you’re confused by too many zeros in the number, simply remove the last three zero. To quickly convert from VND to USD, just remove three zeros and divide by 26.
2. GET USED TO THE BANKNOTES
Vietnam Dong is issued in banknotes ranging from 500VND to 500,000VND by State bank of Vietnam.
In general, Vietnamese dong banknotes come in two groups, based on their materials, which are cotton paper and polymer. While the colors vary by the denomination, all Vietnamese bills have a portrait of Ho Chi Minh on the front side.
If you find it difficult to distinguish between the banknotes, take a look at the backside. Here, you’ll see the different national symbols, which helps you to identify the value of the banknotes.
Let’s look into each banknote to get familiarized with them.
2.1. Cotton group
Notes in the cotton group are of low value. You actually can’t buy a lot with cotton notes, even for tipping for your service providers.
500 VND: Dark red cotton paper banknotes with an image of ships on the back.
1,000 VND: Purple cotton paper notes with an image of a timbering operation on the back.
2,000 VND: Dark brown cotton paper bills with an image of a weaving workshop on the back.
5,000 VND: Dark blue cotton paper material with an image of Tri An Hydropower Plant on the back.
There are 100VND and 200VND notes but their values are so small that we have rarely seen them in the market.
2.2. Polymer group
10,000 VND: Dark brown and green polymer material with an image of oil rigs on the back.
20,000 VND: Dark blue polymer material with an image of the Pagoda Bridge on the back.
50,000 VND: Red and purplish-brown polymer material with an image of Nha Rong Port on the back.
100,000 VND: Dark green polymer banknotes with an image of the Temple of Literature on the back.
200,000 VND: Brownish-red polymer banknotes with an image of Ha Long Bay on the back.
500,000 VND: Blue and purple polymer banknotes with an image of Ho Chin Minh’s home in Kim Lien (Nghe An province) on the back.
NOTE: We used to have coins but it was so inconvenient that we stopped using them in 2011.
TIP: The 20,000 VND bill and the 500,000 VND bill come in similar shades of blue -- double check before you pay.
3. USEFUL TIPS FOR PAYMENT AND EXCHANGING CURRENCY IN VIETNAM
1. When traveling to Vietnam, it is essential to familiarize yourself with the local currency, which is the Vietnamese Dong (VND). We would recommend you change some cash from home so that you can get used to the banknotes before your arrival in Vietnam.
2. In order to exchange your foreign currency for Vietnamese Dong, you can visit authorized exchange counters at airports, banks, hotels, or currency exchange offices. It is advisable to compare rates and fees before making an exchange.
4. When making purchases in Vietnam, it is recommended to use smaller denominations of VND as some businesses may not have enough change for larger notes.
5. Credit and debit cards are accepted at most hotels, restaurants, and larger establishments in major citiesbut you have to pay a surcharge of 3% or 4%. However, it is always wise to bring with you some cash for smaller vendors and markets that may only accept cash, especially when you are in the rural/ remote areas.
6. Be cautious when handling Vietnamese Dong, as counterfeit currency is a common issue in Vietnam. It is advisable to only exchange money at reputable locations and to inspect bills for security features such as watermarks and holograms.
7. ATMs are widely available in Vietnam, especially in urban areas, and dispense cash in Vietnamese Dong. However, be aware that some ATMs may charge a service fee for foreign card transactions. In this case, choose to be charged in Vietnam currency to avoid paying more than you need to.
8. When leaving Vietnam, it is advisable to exchange any remaining Vietnamese Dong back into your home currency before departing, as it may be difficult to exchange once outside of the country. Or, you can keep a few small banknotes as souvenirs.
By searching information for this article, I’ve found that WISE is offering a solution for travelers with a travel money card. Please check it out if it is the right for you.
To sum up, there are some notes for you to remember about the Vietnamese currency:
- The banknotes are issued in cotton paper and polymer. All have the portrait of Ho Chi Minh in front and another national symbol in the back side.
- There are no coins used in Vietnam.
- To quickly convert from VND to USD, just remove three zeros and divide by 26.
- Double check before you pay 20,000VND and 500,000VND banknotes.
- Remember to withdraw cash before you go to rural/ remote areas.
By following these instructions, you can ensure a smooth and hassle-free experience when using Vietnam currency during your travels in Endless Vietnam.
Product Title
16 px collapsible text is perfect for longer content like paragraphs and descriptions. It’s a great way to give people more information while keeping your layout clean. Link your text to anything, including an external website or a different page. You can set your text box to expand and collapse when people click, so they can read more or less info.
$320
Product Title
16 px collapsible text is perfect for longer content like paragraphs and descriptions. It’s a great way to give people more information while keeping your layout clean. Link your text to anything, including an external website or a different page. You can set your text box to expand and collapse when people click, so they can read more or less info.
$900
Product Title
16 px collapsible text is perfect for longer content like paragraphs and descriptions. It’s a great way to give people more information while keeping your layout clean. Link your text to anything, including an external website or a different page. You can set your text box to expand and collapse when people click, so they can read more or less info.
$560
Comments