Currency VND
Navigating money in Vietnam is a crucial skill for any traveler. The local currency, the Vietnamese Đồng, features large denominations with many zeros, which can be confusing at first. Understanding how to get cash, typical prices, and where cards are accepted is essential for a smooth and budget-friendly trip, as Vietnam remains a predominantly cash-based economy, especially for the best local experiences like street food and markets.
Understanding the Vietnamese Đồng (VND)
The Banknotes
The first thing visitors notice about the Đồng is the number of zeroes. Don't be intimidated; you'll quickly become a temporary millionaire. All modern banknotes feature the portrait of revolutionary leader Hồ Chí Minh on one side. The currency is divided into two types: older, traditional paper notes for small denominations (1,000, 2,000, 5,000) and durable polymer notes for all higher values. Each polymer note has a distinct, vibrant color to aid recognition:
- 10,000₫: Yellow (~$0.4 USD)
- 20,000₫: Light Blue (~$0.8 USD)
- 50,000₫: Pink (~$2 USD)
- 100,000₫: Green (~$4 USD)
- 200,000₫: Brownish-Red (~$8 USD)
- 500,000₫: Dark Blue/Cyan (~$20 USD)
⚠️ The polymer notes have a small, transparent window, a key security feature to prevent counterfeiting. Pay special attention to the 20,000 VND and 500,000 VND notes. To the unfamiliar eye, their similar blueish hues can cause confusion, especially in poor lighting. Always take a moment to double-check the number before paying.
What Things Cost: A Quick Snapshot
To help you calibrate, here are the approximate costs for common purchases as of mid-2025. Current Exchange Rate Used: ~$1 USD = 25,400 VND.
- Bottle of water: 10,000 VND (~$0.40 USD)
- Bowl of Phở: 50,000 - 70,000 VND (~$2 - $2.75 USD)
- Short taxi ride (2-3 km): 40,000 - 60,000 VND (~$1.60 - $2.35 USD)
- Vietnamese iced coffee: 20,000 - 40,000 VND (~$0.8 - $1.6 USD)
Getting and Exchanging Money
ATMs: Your Most Reliable Option
- ATMs are widespread in all cities and towns. Most accept international cards (Visa, Mastercard). Withdrawal limits typically range from 2,000,000 to 5,000,000 VND per transaction, with foreign card transaction fees averaging 40,000-60,000 VND.
Banks
- Exchanging money at a bank is the most secure method for large amounts. You will need your passport for the transaction. While safe, this process is slower than using an ATM or a licensed money changer.
Gold Shops & Money Changers (Tiệm Vàng)
- In major cities like Hanoi and Ho Chi Minh City, you will find licensed gold shops and currency exchange booths that often provide slightly better rates than banks. Look for official signage indicating they are authorized to exchange currency. Always count your money carefully at the counter before you leave.
Airport Exchange
- Airport exchange counters offer convenience at the cost of less favorable rates. It is wise to exchange only a small amount upon arrival, perhaps $50 USD to cover your initial taxi ride and a meal. You will find better rates in the city center.
Planning Your Finances: Daily Use
- Cash is King: For the majority of your daily transactions in Vietnam, cash is non-negotiable. Street food vendors, local markets, cyclos, and many small family-run shops operate exclusively with cash. Even in established restaurants, the card machine might be "broken." Always have a sufficient amount of cash on hand.
- Credit & Debit Cards: Credit and debit cards are commonly accepted at international hotels, upscale restaurants, large supermarkets, and modern shopping malls. Be aware that many businesses will add a surcharge of 3-4% to card transactions to cover their processing fees.
- Tipping Etiquette: Tipping is not a cultural requirement in Vietnam, and there is no automatic expectation for it. However, it is always appreciated as a gesture for excellent service.
- Bargaining Culture: In local markets and with street vendors (including some cyclo drivers), bargaining is part of the interaction. Approach it with a friendly smile. The price first offered is often inflated for tourists. A fair price is usually somewhere between the asking price and your first offer. Bargaining is not practiced in restaurants, convenience stores, or anywhere with clearly listed prices.
Tips from locals
Local tips
🪙 The polymer banknotes are waterproof but can be very slippery and often stick together, especially when new. Always separate and count your notes carefully when paying to avoid accidentally giving two notes instead of one.
🏦 The 500,000 VND note is a large amount that many small vendors, street food stalls, and market sellers cannot easily provide change for. Break large notes by making small purchases at convenience stores like Circle K or FamilyMart whenever you get them.
🏧 To minimize fees, use ATMs with higher withdrawal limits. Banks like TPBank, MB Bank, or international banks like HSBC and Citibank often allow for larger withdrawals (up to 8,000,000 VND or more) compared to other local banks.
💡 Be extra careful with the colors of the banknotes. The light blue 20,000 VND note ($<1 USD) and the darker blue 500,000 VND note (>$20 USD) can look similar in poor lighting. A quick glance can lead to a very expensive mistake, so always double-check the number of zeros before handing over your cash.
Be aware
🚕 In taxis without a fixed-price app, some drivers may use a "fast meter" or claim it is broken to negotiate a high fare. To avoid this entirely, use ride-hailing apps like Grab or Xanh SM, which provide fixed, upfront prices for your journey. If you must take a traditional taxi, stick to reputable companies like Vinasun (white cars) or Mai Linh (green cars).
💸 When receiving change, especially from a large note, take a moment to slowly count it before leaving. With many zeros on the bills, it's easy to get confused, and some vendors may take advantage of this. Use a calculator app on your phone if you are unsure.
🚨 Avoid exchanging money with individuals on the street. They may offer attractive rates but often use sleight-of-hand tricks to give you less money than you agreed upon or use counterfeit currency. Only use official banks or licensed gold shops for all currency exchange transactions.
FAQs
What is the currency of Vietnam?
The official currency is the Vietnamese Đồng (VND), symbolized as ₫. It is a closed currency, meaning you can only obtain it once you arrive in Vietnam.
Is it better to use cash or card in Vietnam?
Cash is king in Vietnam. While major hotels and high-end restaurants accept cards, you will need cash for the vast majority of purchases, including food, transport, and shopping in local markets.
Should I bring USD to Vietnam?
Yes, bringing some US dollars is a good idea. USD is the most easily exchanged foreign currency, and having some on hand for your initial expenses upon arrival is useful before you can get to an ATM.
Where is the best place to exchange currency in Vietnam?
The best places are licensed gold/jewelry shops (tiệm vàng) and banks. They offer the most competitive rates, far better than those found at airport exchange counters or hotels.
How much cash should I carry per day in Vietnam?
For a mid-range travel style, carrying around 1,500,000 VND ($60 USD) per person should be sufficient for a day's worth of food, activities, and transport.
Are ATMs common in Vietnam?
Yes, ATMs are very common and easy to find in cities and towns. However, they may be scarce in very remote, rural areas, so it is wise to withdraw enough cash before heading off the beaten path.
What is the typical ATM withdrawal limit in Vietnam?
Most local ATMs have a withdrawal limit of 2,000,000 to 5,000,000 VND per transaction. Some banks, like TPBank or international banks, may offer higher limits.
Is tipping expected in Vietnam?
No, tipping is not expected. It is a voluntary gesture to show appreciation for excellent service and is always welcomed but never required.
Can I use US dollars to pay for things in Vietnam?
While some hotels and tour operators may quote prices in USD, all payments must legally be settled in Vietnamese Đồng. It is best practice to always pay in the local currency to avoid unfavorable exchange rates.
How do I avoid getting scammed with Vietnamese money?
Always count your change carefully, be aware of the similar-colored 20k and 500k notes, and only use reputable taxis or ride-hailing apps. For currency exchange, stick to official banks and licensed gold shops.
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