Currency in Vietnam: A Complete Guide

How to buy vietnamese dong

If you’re thinking about buying the
Vietnamese Dong, you’ve probably already done some homework. That’s
important, because the more you know about a foreign
currency the more successful you’re likely to be in your
purchase. We are actively working to expand our service and offer new payment methods. ✔ Confidence – When buying currency, knowing the reputation of your seller is the best way to ensure a safe, secure transaction. The Vietnamese Dong has been issued by the State Bank of Vietnam since 1978, but its origins date back to pre-united Vietnam.

How to buy vietnamese dong

We know the level of care and privacy you expect from a company dealing with currencies is of the utmost importance. Security and privacy are paramount when working with our customers. You need a source you can trust, not a fly-by-night dealer where you worry over security and certified currency. Instead of taking your chances with Ebay, coin shops, or banks, use US First Exchange. We’re 3rd-generation currency brokers and one of the only mail-order currency exchange companies licensed by the US federal government to do busines in all 50 states.

Many observers nowadays believe
the country’s red-hot economy has far outgrown its
currency’s value. We offer multiple shipping and payment options to buy currency on your terms. offers sixteen international currencies for sale with more coming soon. Consider reviewing our dedicated VND page for more information.

Can I use my debit or credit card in Vietnam?

In order to buy Tether, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of USDT based on the amount you plan to use for payment. By the way, the same applies to the euro – the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase USDT for dollars step by step. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar.

How to buy vietnamese dong

In Vietnam, the government regulates the exchange of foreign currencies to be conducted only at licensed establishments. When you’re buying currency for Vietnam, look out for the currency code VND. And once you’re in Vietnam, you’ll see the symbol ₫ used to show prices. You should always look for the best possible exchange rate, regardless of the conversion method you’re using. The new polymer notes easily stick to each other, so count your money carefully and try not to pay more money than you need.

It consists of the main State Bank of Vietnam and of commercial financial institutions. Experts claim that the banks of this state have a lot to grow, but at the same time they see great potential in Vietnamese financial institutions. Vietnam is currently developing a policy aimed at stabilising the macroeconomics, focused on reducing inflation and attracting foreign direct investment. You can buy Tether (USDT) in Vietnam absolutely legally and safely using the Itez service. Itez allows you to make a purchase with a bank card for euros, dollars, Vietnamese dong.

But, troubles can appear when you forget that you are going to the market or a small roadside shop to buy a bottle of mineral water with a 500,000 dong note. You should also not pay taxi drivers on short trips in this currency. The highest denomination in Vietnamese currency notes is 500,000 VND, which is printed on the polymer with dark blue color and size 152mm x 65mm. Since 2003, the Vietnamese government has issued this par value on both dark blue cotton papers and metal coins. In some parts of Vietnam, you can use a 2,000 Dong cotton banknote in exchange for a small bread that doesn’t add anything else or a mint-flavored gum. However, you will not be able to find any of these banks that operates on Saturdays and Sundays.

The Vietnamese government aims to keep the value of the dong relatively stable to encourage exports and foreign investment. Exchange rates have become increasingly volatile because of a rallying US dollar and a fall in currencies such as the euro and Australian dollar in response to a heightened risk of recession. A strong trade surplus has supported the dong against the euro, with the exchange rate declining to the 23,000 level from 25,800 at the start of 2022. The Australian dollar has also weakened, now buying 15,500 dong from 16,400 at the start of 2022.

Buy Vietnamese Dong from Currency Liquidator

It is is the most popular preferred payment method for all types of transactions, and services. You can also use the above tool to enter your currency to see its exchange rate with the Vietnamese dong or set up email alerts to be notified when the exchange rate passes a certain value. You’ll be able to use your card in Vietnamese cities and tourist sites – but may need to pay a surcharge of 3% – 4%. Carry cash to beat the extra fee, and for picking up fruit and snacks at the roadside. Generally, the maximum amount is from VND 2,000,000 to 5,000,000; VND 8,000,000 to 10,000,000 for a few global banks; or up to VND 2,000,000 in rural districts.

How to buy vietnamese dong

Also, as the demand for people to move back to these small cities to settle in, the requirement for rented houses began to boom quickly. Opportunities are now waiting for people living in other cities and foreign investors to come and invest in the well-being of the town. Agribank has the highest interest rate compared to other banks in Vietnam, with a 0,1% rate of non-term deposits which is still kinda relevant since it’s almost double what other banks offer.

Preferred payment method in Vietnam

If you wish to exchange your money in a bank branch then you will have to ID in with you, without it they won’t do anything. Just to clarify, you don’t need an account open with them to exchange your money. Make sure the cash notes are clean and unripped to avoid the bank declining them. You will also have to fill out various forms, so is a lot more hassle than other methods discussed. You will be able to negotiate and can usually get a better exchange rate in the Gold shops, than at the banks. If you have US Dollars or Euros to change the Gold Shops will be more than happy to exchange this to Dong for you.

Vietnam dong one of most stable currencies in Asia: Experts –

Vietnam dong one of most stable currencies in Asia: Experts.

Posted: Wed, 10 May 2023 07:00:00 GMT [source]

This diverse industrial sector
gives the economy a broad base to cushion the Vietnamese
people from the shocks of a too-narrow
economic base. Over the past few years Vietnam’s
economy has grown between 6% to 10% per year, which is
remarkable when compared with other countries in the
region. An increasing number of people worldwide are discovering
Vietnam’s economic success story. Observers point
to the fact thatVietnam
has overtaken China and other Asian nations with regard to
growth in most sectors. Receive our newsletter for information on new features, special promotions and exchange industry news. The FAQ below should handle many of your VND-related questions.

Travelling to Vietnam

The Vietnamese Dong (VND) has been Vietnam’s national currency since May 3, 1978. The word ‘dong’ comes from the term “dong tien,” literally meaning “money,” referring to Chinese bronze coins used during the dynastic periods of Vietnam and China. You can start the process of buying shares through your smartphone. There’s no need to go to the stock exchange like it used to be. Also, banks in Vietnam show more flaws compared to those in Western countries. Therefore, there are still weaknesses that are unavoidable when using banks in this country.

You can also choose one of our tailor-made tours and travel around Vietnam with our local guides. Check the polymer material, hidden image element and embossing to ensure you receive genuine notes. Find a lower price within 24 hours of your purchase, from a licensed dealer, that accepted the same payment option you used with us and we will match or beat it guaranteed. The foreign-exchange
rate for the Dong was set artificially
low in order to account for the inflationary problems of the

The value of the currency is influenced by Vietnam’s trade flows, foreign currency reserves, economic growth, interest rates and inflation, as well as US monetary policy. The value of the US dollar has soared in 2022 in response to the Federal Reserve (Fed) rapidly hiking interest rates in an effort to tame record inflation. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. Use it for purchases without worrying about rates each time you spend — debit and credit cards often charge 3% for each transaction. To get the best deal when spending on card or withdrawing money in Vietnam, don’t forget to use the Wise travel money card to avoid sneaky exchange rate markups and excessive fees. Get your Wise travel money card online for free, to send and spend money around the world at the real exchange rate.

  • compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services.
  • In recent years, the exchange rate of Vietnam Dong to US Dollar is between VND 22,715 to 24,873.
  • In 2003 Vietnam replaced the older
    cotton notes with state-of-the-art plastic polymer notes which last far

Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. Compare these travel money options and see what works best for you. Major hotels and restaurants in Vietnam add a 5% service charge to bills, so you can choose not to tip at these places.

We do our very best to give you the most accurate journalistic information, but we can’t guarantee to be perfect. You use the information at your own risk, for more details read how our site works . If you have arrived at Hanoi by plane, there will be various operators at Hanoi International Airport (Noi Bai Airport) which offer money exchange services. The exchange rate is always a bit higher exchanging money at the airport but may be necessary to be able to get transport from the airport to the city center. You can use the website of Vietcombank to see the daily exchange rate for the Dong currency in Hanoi.

The commercial hub, where the majority of the banks are located is around the Dong Kinh Nghia Thuc Square and the Hoan Kiem Lake. As with all cities, it is not hard to find Money Exchange Shops in Hanoi. There are Money Exchange shops in the Old Quarter of Hanoi, as well as outside the center of the city. However, the majority of the money exchange business happens in the Jewellery/Gold Shops.

Night-time economy: more than just dining, walking streets, or night … – VietNamNet

Night-time economy: more than just dining, walking streets, or night ….

Posted: Wed, 19 Jul 2023 03:06:00 GMT [source]

Select Compare for up to four products to see their benefits side by side. The Wise travel money card is likely to get you a better dong exchange rate and lower fees compared to your bank. Spending on the card will use the local currency if you have it in your Wise account – no matter where in the world you are. And if not, the card can simply auto-convert your money at the real rate, for a small fee.