Ever wonder how to exchange currency in Vietnam since you are due to make a long trip to this beautiful country? It is actually crucial for your Vietnam tours to rural destinations, so you’d better grab a specific amount of knowledge about the Vietnamese currency.
How to exchange currency in Vietnam
Vietnamese Currency
Denominations
The official currency used in Vietnam is VND (the dong). Before reading how to exchange currency in Vietnam, you should learn how to recognize all denominations in the money system of this country. It is possible to say that you will find it easy to remember the denominations since each of them has a specific color. In total, there are kinds of paper notes, consisting of 500; 5,000; 50,000; 500,000; 1,000; 10,000; 100,000; 2,000; 20,000; 200,000.
Exchange Rate
Exchange rates for converting other currencies into VND are depending on where to exchange, but as a rule of thumb, we often obtain VND22,000 for USD1. Xe.com is a reputable website in which you can find the exact rate at the present time. For instance:
– 1.00 USD = 22,311.47 VND (31 August, 2016)
– 1.00 EUR = 24,874.66 VND (31 August, 2016)
– 1.00 GBP = 29,228.85 VND (31 August, 2016)
– 1.00 JPY = 216.510 VND (31 August, 2016)
Where to Exchange Money
At Your Home
Many people often advised you that you’d better exchange currency in the area where you are travelling to; in fact, it is totally trustworthy. However, imagine how you must do if you need to pay for small bills in the foreign country while you have just landed here and not converted your money. It is difficult to solve this situation, right? Then, do have the money exchanged before leaving. Just go to your bank and require the bank staff to help you.
In Vietnam
The airport
While the airport is also where you can exchange your money and even the easiest and most convenient way, this is not always encouraged as the exchange rate is terrible or you will be charged a large transaction fee. You are just advised to use it if you are in hurry.
The local banks
Certainly, the safest way to exchange your money is at a local bank, you can easily find out when moving towards the downtown area. It often opens from 8:00AM to 11:30AM and from 1:00PM to 4PM on Monday-Friday. At some big branches of the bank, they also serve you on Saturday morning. Keep in mind that exchanging currency and travelers’ checks are not always available in small towns.
Vietcombank run by the government can help you convert into the dong from the following currencies:
– Thai Baht
– Euro
– British Pound Sterling
– Japanese Yen
– Australian, U.S., Hong Kong, Canadian, and Singaporean Dollars
Although using bank services is the safest approach for this converting, there is something annoying you, e.g. the bank will require you to fill out a form along with showing your passport.
It is important that you should keep your paper notes carefully because any torn or damaged will not be accepted.
Other tips
Bear in mind that paying by credit card is not common in the S-shaped country, and especially in rural areas, so be interested in how to exchange currency in Vietnam. If there are still some dongs left after the trip, make sure you should exchange them before leaving as it is very difficult to do that in your country or some regions in the world.
