Currency in Vietnam

The Southeast Asian nation of Vietnam is known for its varied culture and extensive history. The Vietnamese đồng (VND), denoted by the symbol "₫" is used as its unit of exchange. In every part of the nation, the ng is used for everyday transactions. Vietnam provides breathtaking landscapes, thriving cities, and a cuisine that is well-known all over the world. It has a wonderful blend of heritage and modernity.

What is the currency of Vietnam?

Quick tips for new visitors:

• Typically, a 1.5-litre bottle of Vietnamese water costs between 10,000 and 15,000 VND. Keep a little đồng on hand because it's a tiny expense that adds up.
• Short trips on the city's buses or cyclos could cost between 10,000 and 20,000 VND. Longer taxi rides may cost anything between 50,000 and 200,000 VND.
• The price of a dish in a local restaurant or on the street can range from 20,000 to 50,000 VND. For each meal, set aside between 100,000 and 200,000 VND.

The Vietnamese đồng (abbreviated VND) is used as the national unit of exchange in Vietnam. It is the nation's official form of exchange and is frequently used for a variety of transactions. The value of the ng fluctuates on the foreign exchange market and it is available in numerous denominations. 1 USD is about equal to 24085 VND, and 1 INR is approximately equal to 291.05 VND.

Why do I need to have Vietnamese currency?

Did you know?

• Tipping is not typical in Vietnamese society. Even while it's increasingly typical in tourist locations, it's still not expected like in some other nations.
• Instead of itemising individual spending, it is typical in Vietnam for a group to split the bill in half. This behaviour exemplifies the values of equality and cohesion.

To travel in Vietnam, you must have Vietnamese currency (đồng). You can move through daily activities like eating out, shopping, and taking public transportation with ease. Cash transactions are essential since many smaller companies and markets might not accept credit cards.

Travel tip: Transactions will go smoothly if you have Vietnam currency and use Vietnamese đồng to avoid bad exchange rates and to have a more genuine experience.

Using local currency can also assist you in avoiding unfavourable exchange rates or other costs that could be related to converting money while you're on the go. While major tourist destinations may accept foreign currencies, it's best to have ng on hand for a hassle-free and economical experience while travelling around the nation.

How to acquire Vietnam currency?

An important tip:

• For best exchange rates, use reputed currency exchange offices or nearby banks. Never exchange money with unreliable sources or street vendors.
• Before departing, think about exchanging a small sum of money at home. This makes your first few minutes in Vietnam more comfortable by giving you some ng for urgent expenses.

There are several ways to get Vietnamese Dong (VND) before or after arriving in Vietnam.

1. Exchange of currencies: Before leaving, visit banks, exchange booths, or exchange counters in your native country. To get the best bargain, do some prior research on prices and charges.

2. ATMs: Vietnam has a large number of ATMs, particularly in urban areas. They disburse money, and you can get cash using your debit or credit card. Check with your bank in advance because some ATMs may impose withdrawal fees.

3. Currency Exchange: Currency exchange services are frequently available in airports, hotels, and popular tourist destinations in Vietnam. Although convenient, rates might not be the best; therefore, check before exchanging.

Travel tip: Before exchanging a sizable amount of currency in Vietnam, compare rates at various exchange booths and institutions. It's wise to negotiate for the best price because rates can change slightly.

4. Neighbourhood Banks: To convert your foreign currency into Vietnamese currency, contact a local bank. Rates may be lower than those at popular tourist destinations.

Travel tip: Use the local banks' currency exchange services during regular business hours. Although they frequently provide affordable pricing, be ready for longer wait times during busy times.

5. Credit Cards: High-end hotels, eateries, and stores accept major credit cards. Cash is preferred, nonetheless, in local markets and smaller businesses.

Travel tip: To avoid unexpected card blockages due to international usage, let your credit card provider know about your vacation intentions. Watch your transactions carefully for any unusual behaviour.

6. Traveler's Checks: Traveler's checks can still be exchanged at banks and currency exchange offices, despite becoming less popular.

7. Prepaid Travel Cards: These cards are filled with đồng and can be used like debit or credit cards. They offer security and convenience.

To prevent any problems with card usage, don't forget to let your bank know about your vacation plans. You should also investigate exchange rates and taxes to make wise choices.

Tips to save money when in Vietnam

Do consider:

• A night in a low-cost guesthouse can cost as little as 200,000 VND, while a stay at a luxury hotel may cost as much as 1,000,000 VND. By selecting inexpensive housing, you can use your money to cover more experiences and activities during your trip.
• While a meal at a Western-style restaurant can cost over 200,000 VND, a traditional bowl of pho (noodle soup) from a street seller may cost under 40,000 VND. You can save a lot of money by eating locally.

Here are ten suggestions to help you cut costs while visiting Vietnam:

1. Street food delights: To enjoy authentic Vietnamese food at a fraction of the cost of a restaurant, choose the neighbourhood street food stands and markets.

2. Discount: Hone your negotiating abilities as you shop at markets. Price haggling frequently results in significant savings.

3. Local Transportation: For cost-effective commuting, choose local transportation such as public buses, trains, and trains instead of taxis or private transfers.

Travel tip: For quick excursions, think about using cyclos (pedicabs) and xe om (motorbike taxis). Set up advance fare negotiations. A quick xe om ride, for example, may cost between 20,000 and 30,000 VND ($1 and $1.50).

4. Accommodation Options: Opt for inexpensive guesthouses or hostels rather than pricey hotels, and make reservations in advance for lower prices.

Travel tip: Discounts and specials are frequently available on websites like Booking.com, Agoda, and Airbnb. For a weeklong stay, for example, you might obtain a 15% discount.

5. Tourist traps: Skip costly tourist traps and visit off-the-beaten-path locations instead for a more authentic experience.

6. Water Containers: Refilling your reusable bottle at water stations will save you money by eliminating the need to purchase bottled water.

7. Happy Hour and Specials: Take advantage of pricing reductions by enjoying meals and drinks during happy hours or daily specials.

8. Avoid peak season: Plan your trip during the shoulder seasons to take advantage of lower lodging, airfare, and attraction prices.

Travel tip: Try some wonderful street cuisine for inexpensive lunches. The price of a banh mi sandwich or bowl of pho from a street vendor might range from 20,000 to 40,000 VND ($1-2).

9. Utilise ride-sharing applications: Use ride-sharing applications if necessary to get cheap rides while assuring clear pricing.

10. Free Activities: To fully experience a culture without going over budget, partake in free or inexpensive activities like strolling through parks, browsing marketplaces, and visiting temples.

You may get the most out of your trip to Vietnam without spending a fortune by paying attention to these suggestions.

What are the payment methods accepted in Vietnam?

Did you know?

In Vietnam, there is a huge demand for mobile payment apps. The use of services like GrabPay and MoMo has become standard. These applications are extensively used for splitting costs with pals, from paying for rides to shopping and dining. Vietnam's quick adoption of mobile payment technology demonstrates both the convenience of cashless transactions in an increasingly digital world and the country's tech-savvy culture.

Different forms of payment are accepted in Vietnam. The national currency of Vietnam is the Vietnamese đồng (VND), and cash is frequently utilised for daily transactions. In urban regions, posh hotels, restaurants, and larger institutions accept popular credit and debit cards like Visa and Mastercard. Carrying cash is a good idea, though, for smaller shops and marketplaces.

Travel tip: Keep some Vietnamese dong (VND) on hand at all times, especially while visiting neighbourhood markets and street vendors. Small bills (10, 20, and 50 VND) come in very handy for making quick purchases and avoiding problems with change.

PayPal and other international payment apps might function, but their use may be restricted. For services like transport and small purchases, mobile payment apps like GrabPay and MoMo are popular. There are many ATMs where you can get cash. Always make sure you have enough cash on hand, especially if you're travelling to a remote or rural place.

Can I use INR in Vietnam?

Travel tip:

• Before your journey, keep an eye on the rates of conversion between Indian Rupees (INR) and Vietnamese đồng (VND). swap rates might change, so to get the most out of your currency conversion, attempt to swap your money when the rate is good.
• It's best to utilise Vietnamese đồng for transactions rather than US dollars or other international currencies, even if some locations could take them. By avoiding conversions that involve numerous currencies, you can be sure you're getting the best deal possible.

Although it's uncommon to transact with Indian Rupees (INR) in Vietnam, some larger hotels and tourism destinations in the country's largest cities may do so. However, it is advised to exchange your Indian rupees (INR) for Vietnamese dong (VND) either before or at the airport. Especially in local marketplaces and smaller enterprises, using VND ensures more seamless transactions, better exchange rates, and greater acceptance. To minimise any inconveniences during your trip to Vietnam, you should convert INR into VND at banks or currency exchange booths. ATMs are accessible for withdrawing cash.

Conclusion

Finally, Vietnam offers a mesmerising fusion of culture, history, and unspoiled natural beauty. The Vietnamese đồng, which serves as the native currency, makes it simpler to move through its diverse landscapes and energetic towns. While certain businesses may accept international money like the Indian Rupee, utilising the yuan guarantees smooth transactions and averts unfavourable exchange rates. The trip experience is improved by adopting frugal habits like enjoying street food and taking public transport. Travellers can maximise their time spent exploring this alluring Southeast Asian country by practising financial restraint and acclimating to the indigenous ways of life.

FAQs

1. Is Vietnam a country that accepts credit cards widely?

In premium restaurants, major credit cards like Visa and Mastercard are accepted, however for smaller shops and neighbourhood markets, having cash is crucial, particularly in Vietnamese đồng.

2. Do currency conversion or ATM withdrawals have any additional costs?

There may be charges for using some ATMs and currency exchange services. It is advisable to inquire about potential fees with your bank or service provider.

3. Can I just use my travel card or mobile payment apps to make purchases?

Despite the convenience of travel cards and payment applications like GrabPay, it's still a good idea to carry some cash, especially for minor purchases.

4. Is it better to convert money in Vietnam than in my native country?

For early expenses, exchanging a small sum of money in your own nation can be helpful. The rates may be better in Vietnam if you exchange more money.