Friday, May 18, 2012

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Vietnam Currency

Vietnam CurrencyVietnam Information - Dong is the official currency in Vietnam. Previously, Dong was dived into 10 hao, which can be dived into 10 smaller unit: xu. However, Vietnamese today no longer use these two smaller units. The current bill denominations in Vietnam Dong is 200 (rarely used now); 500; 1,0002,0005,00010,000;20,00050,000100,000 and 500,000. Temporarily, Vietnam Dong was among the least value currency in the world. Followings are some exchange rate between Vietnam Dong and some             other currencies:

1.00 EUR = 27,142.98 VND
1.00 USD = 19,450.00 VND
1.00 GBP = 30,746.95 VND
1.00 AUD = 19,210.52 VND
1.00 CAD = 19,268.75 VND
1.00 CNY = 2,916.48 VND
1.00 DEM = 13,877.86 VND
1.00 INR = 439.250 VND
1.00 MYR = 6,274.19

Where to exchange (Vietnam Dong)?

Changing Money

In principle, you can go around Vietnam using only US dollars, but in practice, this is troublesome and expensive. Even if many shops do offer a fair rate of exchange (to encourage customers to pay in US dollars), paying in VND offers the buyer increased flexibility in bargaining.

exchange vietnam money
Dollars can be exchanged at banks, hotels, and authorized exchange bureaus. Major hotels often offer the same rate as banks. Smaller hotels may charge an extra fee for exchange.
The government-run Vietcombank can exchange dong for the following currencies:
  • US, Australian, Canadian, Hong Kong, and Singaporean Dollars, Euros, British Pounds Sterling, Thai Baht, Japanese Yen
Vietnamese banks will not accept torn or damaged notes. If you deposit a damaged note, the bank will charge you2% of the note’s value. By extension, most stores will not honor damaged notes.
exchange money in Vietnam
Banks are open on weekdays from 8am to 3pm, with a lunch break from 11:30am to 1pm. You’ll be able to change foreign currencies and travelers’ checks in urban bank branches, but not always in smaller towns.

Automatic Teller Machines

ATMs have proliferated throughout Vietnam’s major cities. Most of them are connected to the Visa/Plus and MasterCard/Cirrus networks, and can be used to get cash advances through your credit card.
ATMs dispense dong in 50,000d and 100,000d denominations, with a limit of 2,000,000d for each withdrawal and a daily limit of 20,000,000d. ATMs will charge a fee of 50,000d per transaction.

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