VIETNAM CURRENCY – GUIDE FOR THE FIRST-TIME TRAVELERS
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 by various names, including "the strangest currency" or "funny money." Why are such monikers? Explore further insights on the Vietnam Dong with Endless Vietnam.
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) = VND25,471
British pound ≈ VND32,452
Euro ≈ VND27,645
Australian dollar ≈ VND16,874
Japanese yen ≈ VND162.27
Imagine you are booking a day tour with the price at US$50, you will have to pay 1,250,000₫ (Yes, one million two hundred and fifty thousand 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 25.
2. GET USED TO BANKNOTES
Vietnam Dong is issued in banknotes ranging from 500VND to 500,000 VND by State bank of Vietnam.
In general, Vietnamese dong banknotes come in two “families,” based on their materials which are cotton paper and polymer. While the colors vary by the denominations, 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 backsides. Here, you’ll see the different national symbols or well-known places, which helps you to identify the value of the banknotes.
2.1. Cotton family
Notes in the cotton family are of low value. You actually can’t buy a lot with cotton notes, even for gratuities for your service providers.
500 VND: Dark red cotton paper banknote with an image of Hai Phong’s ships on the back
500 VND - Front side - The portrait of Ho Chi Minh
500 VND - Backside - Hai Phong port
1,000 VND: Purple cotton paper notes with an image of a timbering operation on the back
1,000 VND - Front side - The portrait of Ho Chi Minh
1,000 VND - Backside - Timbering operation in Central Highlands
2,000 VND: Dark brown cotton paper bills with an image of a weaving workshop on the back
2,000 VND - Front side - The portrait of Ho Chi Minh
2,000 VND - Backside - Nam Dinh Textile factory
5,000 VND: Dark blue cotton paper material with an image of Tri An Hydropower Plant on the back
5,000 VND - Front side - The portrait of Ho Chi Minh
5,000 VND - Backside - Tri An Hydropower Plant
2.2. Polymer family
10,000 VND: Dark brown and green polymer material with an image of oil rigs on the back
10,000VND - Front side - The portrait of Ho Chi Minh
10,000VND - Backside - Bach Ho oil field (Vung Tau)
20,000 VND: Dark blue polymer material with an image of the Japanese Covered Bridge on the back
20,000VND - Front side - A portrait of Ho Chi Minh
20,000VND - Backside - Japanese Covered Bridge (Hoi An)
50,000 VND: Red and purplish-brown polymer material with an image of Nghenh Luong Dinh - Phu Van Lau on the back
50,000 VND - Front side - A portrait of Ho Chi Minh
50,000 VND - Back side - Nghenh Luong Dinh - Phu Van Lau (Hue)
100,000 VND: Dark green polymer banknotes with an image of the Temple of Literature on the back
100,000 VND - Front side - A portrait of Ho Chi Minh
100,000 VND - Back side - Temple of Literature (Hanoi)
200,000 VND: Brownish-red polymer banknotes with an image of Ha Long Bay on the back
200,000 VND - Front side - A portrait of Ho Chi Minh
200,000 VND - Back side - Ha Long Bay
500,000 VND: Blue and purple polymer banknotes with an image of Ho Chi Minh’s thatched house in Kim Lien on the back
500,000 VND - Front side - A portrait of Ho Chi Minh
500,000 VND - Back side - Ho Chi Minh’s Hometown
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
3.1. 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.
3.2. 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.
3.3. 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.
3.4. Credit and debit cards are accepted at most hotels, restaurants, and larger establishments in major cities but 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.
3.5. 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.
3.6. 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.
3.7. 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.
At the time of writing this article, I’ve found that WISE is offering a solution for travelers with an auto-converting money card. Please check it out if it is the right for you.
4. IN CONCLUSION
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 25.
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.
So, how has your experience with Vietnamese currency been? Share your experience at the comments below.
