The official currency of Vietnam is dong (abbreviated as VND or ₫). It has a value system that might initially seem confusing, with notes ranging from small denominations to millions. Before your trip, it's wise to learn about the currency exchange for Vietnam, the payment methods available in the country and other essentials.
This guide will help you understand the Vietnamese monetary system, recognise different banknotes and find the best payment methods and exchange options.
List of currency notes in Vietnam
Recent Vietnamese currency dong is made of plastic polymer. You can find the traditional paper currency still in circulation. However, paper money is less common. Here is a breakdown of the Vietnamese monetary system:
- Polymer banknotes: These notes are available in ₫10,000 (brown note), ₫20,000 (blue note), ₫50,000 (pink note), ₫100,000 (green note), ₫200,000 (red/brown note) and ₫500,000 (yellow/green note).
- Cotton paper banknotes: Paper money is less common but still in circulation in the country. They are available in ₫1,000 (grey note), ₫2,000 (brown note) and ₫5,000 (purple note). You can use these denominations for various transactions like eating out, making cyclo payments or more.
Using Indian currency
India currency in Vietnam is not legally accepted, so you need to exchange it for Vietnamese Dong before making purchases. It can be done through authorised exchange centres or banks on arrival. The exchange rates vary, so check the Vietnamese dong value before completing any transaction.
There are plenty of currency exchange facilities in Ho Chi Minh City and Hano, so you won't have any problems buying Vietnamese dong. You may also pay through credit and debit cards in a few cities.
Methods of payment in Vietnam
In Vietnam, you can use cash currency for everyday transactions in places where card payment is less common. You can use VND cash for essential daily expenses, transportation and small purchases. Debit and credit cards are accepted across major tourist hotspots of Vietnam. A lot of places have ATMs, making it easy to access cash. Alternatively, you can use MoMo and ZaloPay mobile payment solutions for transactions.
Tips to save money when travelling in Vietnam
In Vietnam, you can opt for budget-friendly hostels or dormitories. They are safe and affordable and allow you to interact with people from different cultures. For a more authentic experience, you can consider homestays. You can enjoy local street foods like pho, bun cha, and banh mi, which are delicious and cheap. Additionally, you can also bargain at markets and with street vendors. Instead of cabs or taxis, use local buses or rent bicycles to get around larger towns. You can reach major cities via buses and the extensive train network.
FAQs
- Is it better to exchange money in Vietnam or before arriving?
It's recommended to exchange money upon arrival in Vietnam. Airports, banks, and authorised exchange counters offer competitive rates.
- Can I use US dollars in Vietnam?
While some vendors in tourist areas may accept US dollars, it's best to use Vietnamese Dong for all transactions.
- Are credit cards widely accepted in Vietnam?
Credit cards are easily accepted in cities and tourist areas. However, carrying some cash for smaller shops and rural areas is always a good idea.
- What is the best way to keep my money safe in Vietnam?
Use a money belt or hidden pouch to secure your cash and cards, and only carry what you need for the day. Store the rest in a hotel safe.
Conclusion
Being aware of Vietnamese dong can help you a long way. It smoothens your travel experience and enables you to recognise fair prices without being overcharged. However, before travelling, review the current Vietnamese dong to home currency exchange rates and keep some cash readily available for immediate expenses. Remember to purchase travel insurance online to ensure immediate coverage against emergencies.
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