Explaining Vietnamese Đồng

The currency of Vietnam is the Đồng (VND). It is represented by the symbol “₫” or “đ”. Notes are available in paper denominations of 500,000; 100,000; 50,000; 10,000; 5,000; 2,000; 1,000; 500; 200; 100 VND. However, the last four notes are rarely used because their values are too small. 

There’s no denying that Vietnamese Đồng is confusing. Counting 0’s is tough on your eyes, and the color of some notes can be similar. Here is some information before these zeros.  

Vietnamese Đồng

The best way to ensure you don’t overpay is counting back again, again and again. It also helps you get accustomed to the look and feel of different notes. Keeping their imagery and color in mind will be helpful. Thankfully, the backside of each denomination is unique. And colors are also key to note. They’re presented as below:

Currently, the 500,000đ, 200,000đ, 100,000đ, and 50,000đ denominations are made of plastic.

The 500,000đ note is the biggest note in Vietnam. The main color is cyan-purple, and the back features the birthplace of former President Ho Chi Minh in Kim Liên, Nghệ An Province. You can live extremely comfortably on a budget of 500,000đ a day, and with just two of these, you are a millionaire! The 200,000đ note has a sort of brownish-red color. And on the back is a picture of Hạ Long Bay, the National Relics and Landscapes publication must-visit in Vietnam.

The 100,000đ note is yellowish-green, with the Temple of Literature in Hanoi, one of the most beautiful structures in the country, on the back.

The 50,000đ note is a recognizable shade of pink. On the back of this note is a picture of Phu Văn Lâu, a pavilion located on the main axis of the Imperial Citadel in Huế.

The 20,000đ note is blue and features the Japanese Bridge in Hội An, an emblematic symbol of the city that represents the fusion of diverse cultures in Vietnam. It’s also awfully similar to the 500,000đ note, which means mix-ups happen all the time. They are both blue, and you can distinguish them by the number, the image on the back, or the size. the 500,000đ is slightly larger, 152 × 65 mm, 20,000đ is only 136 × 65 mm. 

The 10,000đ note is dark brown to greenish-yellow and is the smallest value among polymer notes. The picture on the back depicts oil production along Vietnam’s coast, as minerals still account for a considerable share of GDP.

The 5,000đ, 2,000đ, 1,000đ, 500đ, and 200đ notes are placed in cotton notes. The 5,000đ note has a blue color and shows Trị An hydropower plant on the back.

The 2,000đ note is multicolored and shows a textile factory in Nam Định, once the largest in Indochina, on the back.

The 1,000đ note features a multicolored design on a lime background and depicts lumber production in Vietnam’s Central Highlands.

The 500đ note is pink and depicts a seaport in Hải Phòng Province.

And the 200đ notes are orange and show agricultural production on the back.

The 100đ notes have a green color and show Phổ Minh Pagoda in Ninh Binh Province on their backs.

Where to Change Your Money to Vietnamese Dong?

Major currencies can be exchanged practically anywhere throughout Vietnam, but not all exchange places are created equal. Banks and airport moneychangers can exchange your money at a higher cost than a gold and jewelry shop, so it pays to ask around before trading dollars for dong.

• Banks: you’ll be charged a commission rate of between 0.5% and 2% when exchanging money at the banks. There are many banks in Vietnam where you can exchange foreign currency and cash checks, such as Vietcombank, Eximbank, Vietinbank, Agribank, BIDV, ACB… Always bring new notes; any damaged, dirty or old notes will be charged an additional  2% of the note’s value.
• Airports: you will find currency exchange stalls on arrival at Vietnam’s international airports. However, the exchange rate here is not very good. Therefore, it’s best to change a small amount to cover your taxi fare and head to the center for a better rate.
• Hotels: You can offer competitive rates with banks at the big hotel, but smaller hotels may charge an additional fee for the service.
• Gold and jewelry shops: These are the best places to exchange your money, especially for USD, EUR, JPY, GBP, AUD, CAD, CNY, SGD, THB…with no fees.

You can also check the exchange rate on these pages: xe.com, Vietcombank, Google exchange…

Credit cards

Debit and credit cards like Visa and MasterCard are widely accepted in major cities, especially at hotels and shopping malls, but are probably not suitable for roadside stalls. You may be charged around a 3% commission.

Can USD, EUR or other currencies be used?

Throughout the country, American dollars (USD) are widely accepted. However, the bills must be relatively new and free of markings or tears. Also, several major cities, such as Ho Chi Minh City, Ha Noi, Hue, Nha Trang, and Can Tho, use the Euro (EUR). However, it is not recommended to pay in USD, EUR or other currencies, as they will be converted at a lower exchange rate, resulting in higher costs.

How much can you withdraw cash at ATMs in Vietnam?

ATMs are available in major cities and tourist areas of Vietnam, but it is quite hard to find one in smaller towns. That’s not guaranteed, though, so it still makes more sense to withdraw in the cities before making your way to rural areas. ATMs only provide VND. When you withdraw from ATMs, all foreign currencies will be automatically converted to VND at the bank rate at that time. Generally, the maximum amount is VND 2,000,000 to 5,000,000; for a few global banks, it is VND 8,000,000 to 10,000,000. Charging fees also vary from bank to bank. Most banks charge from VND 40,000 to 100,000 each time. ANZ and Citibank are recommended as they charge the lowest transaction fee.  As millions of dong can add up to a thick wad of cash, be careful when withdrawing large amounts from an ATM.

How much money do I need in Vietnam?

To keep costs down, eat street food for every meal; it’s not just good money sense, it’s an experience you shouldn’t miss when in Vietnam.

• Accommodation: Usually, the price of budget hotels (2-3 stars) is 500,000-1,200,000đ per night; if you choose more modest accommodations like a guesthouse, the price is around 200,000-400,000đ per night. Or at a luxury hotel room, the cost is from 2,000,000đ per night.
• Food & Drink: a simple dish in Vietnam costs 30,000-60,000đ. A meal in a restaurant costs from 500,000đ – 800,000đ. A cup of coffee at a local shop costs from 15,000đ – 30,000đ, and a glass of Bia hơi (draught beer) costs from 10,000 đ.
• Transportation: for short distances, taxis or Grab cost around 20,000đ per km. For long distances, trains and bus tickets are the cheapest options. Domestic airfare varies by season; booking fees are extremely high during public holidays.
• Tours: booking fees vary depending on the type of tour (daily group tour, private tour, size of your group, special requirements)… The cheapest one is a daily group tour, which costs from 200,000- 600,000đ. Therefore, 1,000,000đ per day or less is enough for backpackers. 

Here are some tips for using Vietnamese Dong

• Tipping is not expected in Vietnam, but it’s much appreciated. A tip of a few dollars per day for cleaning staff, porters, drivers, waiters or waitresses… is reasonable if you think they have really done a good job of making your trip memorable.
• More tips for changing and using money in Vietnam
• Don’t change money on the black market as it is probably just the lead-up to a scam.
• Do not change too much money at once, or you will probably need a suitcase to carry your Vietnamese Dong around.
• Don’t accept any damaged or discolored notes, as they will be hard for you to use again.
• The new polymer notes easily stick to each other, especially when it’s wet, so count your money carefully and try not to pay more money than you need.
• Double-check rates to avoid getting scammed.
• Avoid using high-denomination notes, especially with 500,000đ, for street vendors, taxi drivers, and small family shops, even small markets. Often, people don’t have enough change to break large notes. So make sure you’re carrying smaller bills when going shopping.
• Divide your notes and split your wallet into two parts. One part is keeping large denominations like 500,000đ, 200,000đ, 100,000đ, and 50,000đ. Another part is keeping other notes such as 10,000đ, 5,000đ, 2,000đ…. This greatly helps reduce any mix-ups in transactions.

If you have any questions about the Vietnamese Đồng or want professional travel tips for your trip to Vietnam, feel free to contact our team for more suggestions.

Source: collected by An