Currency in Vietnam

Let's talk about money, baby! If you landed on this page, it must be you're trying to figure out everything there is to know about money and currency in Vietnam - am I right? Well, you've come to the right place because on today's blog post we'll go deeper into those subjects!

So you decided to book (or thinking about booking) that much deserved holiday to Vietnam hey? We couldn't agree more! Not only is it a beautiful and relatively cheap travel destination, it's also home to crystal clear beaches, bustling cities, colorful nightlife, a magnetic culture and rich historical ruins! So Whether you're looking to explore a city, going for a cruise in Halong bay, relax at the beach  or visit one of the many rice fields, Vietnam has something to offer for everyone!

The best way to discover this country and its highlights is by taking a private tour in Vietnam. This experience will take you deep into the culture and daily life of the local population. If you have never been to Vietnam, it can be overwhelming to figure out what you can all fit into your travel schedule or what the best spots are worth visiting, that's why you should definitely take one of the many tours in Vietnam! 

We at ForeverVacation offer some of the best tours in Vietnam, and our local guides will take you to the best possible spots, all wrapped up in a VIP service so you won't have to worry about anything during your day trip!

With a wealth of affordable cuisine, hotels, and things to do, Vietnam is an excellent destination if you’re looking for value for money. Prepare for your first time in Vietnam by getting to know the local currency and payment systems, so you can enjoy your holiday here even more. Here’s a quick guide to money matters for travelers in Vietnam. 

If you enjoyed reading this blog post, we are sure you're going to love our other Vietnam related blog posts such as: What's the best time to visit Vietnam, the best food in Vietnam, The best beaches in Vietnam or How to travel around Vietnam!

What currency is used in Vietnam?

The official currency in Vietnam is the Vietnamese “Dong,” or simply, Dong. Vietnam has used the Dong as its official currency since 1978, and it is distributed by the State Bank of Vietnam.

There are currently two types of currency notes in circulation (coins were discontinued in 2011): the Polymer notes (500,000 VND, 200,000 VND, 100,000 VND, 50,000 VND, 20,000 VND, and 10,000 VND) and Cotton notes (5,000 VND, 2,000 VND, 1,000 VND, 500 VND, and 200 VND). However, the last two cotton notes are rarely used as their value is too low. The denominations 200, 500, and 1,000 are worth so little that they are not even used for tipping.

What is the exchange rate?

At the moment of writing this article 1 USD= 23,886.673 Vietnamese Dongs but please remember exchange rates are constantly changing, so it's best to check it yourself again before traveling to Vietnam.

Is traveling to Vietnam expensive?

From a Western perspective: no, Vietnam is not expensive. In fact, Vietnam is one of the cheapest countries for travelers not only in Southeast Asia, but in the entire world. But It depends a bit on where you travel and what you do, of course. The costs are highest in the big cities: Hanoi and Ho Chi Minh City. 

In central Vietnam, traveling is the cheapest and only a few places on the planet exist where you get as much bang for your proverbial buck as you do in Vietnam! The most expensive thing about your trip to Vietnam will probably be your plane ticket.

Can I pay with US dollars in Vietnam?

USD can be used in larger cities in Vietnam but only in big shops and hotels. Because the Dong is tied to the USD, you can also pay for a visa on arrival with US Dollars. However, prices in shops will always be shown in the local currency, and they can use higher exchange rates if you want to use USD. 

When exploring local attractions outside of the big cities (or even small shops in the larger cities), make sure you have VND instead of US Dollars. You're gonna need the Vietnamese currency to buy street food and to buy items in local markets and shops.

How much do things cost in Vietnam?

Wondering how much money to prepare for your trip in Vietnam? If you’re on a budget, eating street food and staying in home-stays is a great way to go and will still give you an enriching experience of Vietnam. If you’ve got a little more to spend, Vietnam’s mid-range hotels and local restaurants offer wonderful value and heartfelt service. And if you’re here to indulge, there are plenty of five-star accommodations that offer superb quality and unforgettable moments. The list below will give you an idea of things cost in Vietnam:

• Sidewalk coffee - 25,000 VND (1 USD)
• Street food meal with ice tea - 45,000 VND (2 USD)
• Cappuccino in a cafe - 55,000 VND (2.50 USD)
• Three-course restaurant meal - 450,000 (20 USD)/person
• Inner city taxi - 35,000 to 100,000 VND (1.50 to 4 USD)
• 60-minute foot massage at local spa - 350,000 VND (15 USD)
• Budget hostel - 300,000 VND (13 USD)/night 
• Mid-range hotel - 700,000 VND (30 USD)/night 
• Half-day group tour - 1 million VND (43 USD)
• Luxury hotel - 3.5 million VND (150 USD)/night

Cash or card?

Upon arriving in Vietnam, you’ll want to have some cash in the local currency. ATMs accepting international cards are conveniently located just outside the arrival gates at all major airports.

While cash is used for small purchases and street vendors in Vietnam, most establishments accept payments from major credit card providers such as Visa. Hotels, tour operators, boutiques, restaurants, grocery stores, and spas generally accept international debit and credit cards. Conversion rates and transaction fees are set by your card provider. With a few exceptions, your larger travel expenses in Vietnam can be covered by card, either on the spot or online in advance, reducing the need to carry and convert large sums of cash on the road.

ATMs

Most cities in Vietnam are served by a network of ATMs, which only dispense Vietnamese Dong. Different ATMs offer varying withdrawal limits, typically between two to 10 million VND.

• Most ATMs accept major cards, including Visa, MasterCard, and JCB. Check the ATM signage to avoid any issues with your card.
• It's best to use ATMs linked to a bank and to be cautious of any suspicious activity around.
• Withdraw money during bank operating hours to ensure assistance is available if needed.
• Withdrawal fees generally range between 20,000 and 50,000 VND per transaction.

Exchange Money

You can also find currency exchange vendors inside Vietnam’s international airports just before the exit gates. Once you’re at your destination, currency exchange services are typically available at hotels, in tourist hotspots, and at local banks.

Tipping in Vietnam

Tipping is not customary in Vietnam but is highly appreciated, especially at beauty salons and when taking private tours. In some high-end restaurants, a 5-10% service charge is added to the bill, requiring a tip regardless of service quality. If you’re very satisfied with the service, you can tip an additional 5-10% of the bill, even when a service charge is included. Handing over the tip in person ensures it goes directly to the deserving staff member.

Tour guides play an important role in the success of your trips. Whether the guide is helpful, knowledgeable, or friendly can make your trip either memorable or disappointing. It’s recommended to be generous with your tour guide, especially when traveling on a private tour.

The perfect alternative to tipping can be a bright smile, a good review on TripAdvisor, or even a thumbs-up. Vietnamese people often value genuine, positive feedback more than money. Some locals may feel too proud to accept extra money, but they will appreciate simple gestures like a friendly conversation!

Top Money Tips for Vietnam

• When withdrawing money, always choose “Without Conversion” instead of “With Conversion” to get a better exchange rate.
• Vietnam is generally very safe for travelers, but use common sense to secure your money. Avoid drawing attention to valuables in public, and use the hotel safe for cash, cards, and valuables. Keep wallets and purses close, especially in crowded places.
• Cards with safety features, like Visa’s 3D security system, can protect against loss or fraud.
• Many businesses and taxi services in Vietnam accept Visa contactless payments, which add peace of mind as your card never leaves your hand.
• Bargain: When shopping in Vietnam, bargaining is key. Start with a lower price than what vendors offer. Shopping with a Vietnamese friend can help you avoid “foreigner prices.”
• Break up large notes whenever possible. Local shops may have difficulty providing change, so use big bills in supermarkets or high-end establishments where change is more likely available.
• It’s a good idea to withdraw extra cash before traveling to remote areas in Vietnam, especially if you plan to buy crafts or textiles directly from artisans.

Conclusion

We hope this gives you valuable insights into how money is handled in Vietnam! With these tips in mind, an amazing trip to Vietnam awaits you, and we hope to see you soon on one of our guided tours in Vietnam!