Hong Kong dollar (HKD) is the official currency of Hong Kong, introduced in 1863. The currency is used by three banks that operate under the supervision of the Hong Kong Monetary Authority. The symbol of the Hong Kong dollar is $, which is also used by many other currencies To distinguish it from other dollar-based currencies, HK$ is also commonly used. United States dollar (USD) is the official currency of the United States of America.
- Before you purchase Vietnamese currency, use a Vietnamese currency conversion app to get the latest US to Vietnamese currency rates.
- Although it’s still minimal value, only equivalent to about 0.23 USD, you may ask the seller to return it to you.
- You should also consider tipping drivers and guides – after all, the time they spend on the road with you means time away from home and family.
- That means that if a merchant won’t accept one, you’ve got a back up.
You may also be able to use your American Express card, though local ATMs won’t accept them. Credit cards can come with some enticing perks, including added security, loyalty programs, and even free travel insurance. The Japanese Yen (JPY) is not commonly accepted in Vietnam, so it is recommended to exchange JPY for Vietnam currency upon arrival. The United States Dollar (USD) is widely accepted in Vietnam and is one of the most common currencies exchanged for Vietnamese Dong.
VND to USD – Convert Vietnamese Dongs to US Dollars
It is considered proper to make a small donation at the end of a visit to a pagoda, especially if a monk has shown you around; most pagodas have contribution boxes for this purpose. 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. Notes dually denominated in piastres and dong were issued in 1953 for the State of Vietnam, which evolved into South Vietnam in 1954.
- It’s a good idea to exchange GBP to VND before you head off to Vietnam, as you can often find a better exchange rate and lower overall costs before you travel.
- In some cases you will be able to get a 20% discount or more, at other times this may only be 10%.
- It is issued by the State Bank of Vietnam, which issues banknotes in 100, 200, 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, and 500,000 denominations.
- All six of these notes are tougher, making them more resistant to water damage and general wear-and-tear.
Remember that in Asia ‘saving face’ is important, so bargaining should be good-natured. Smile and don’t get angry or argue as Vietnamese really don’t expect this from foreigners. In some cases you will be able to get a 20% discount or more, at other times this may only be 10%. Don’t waste time getting stressed if you find out someone else got it for less; it is about paying the price that is right for you, not always the local price.
How to pay in Vietnam?
It’s time you need to pay attention because this face value is easily confused with a note of 500,000VND, which has many times higher than 20,000VND. However, if it’s only for 500 VND, it’s hard for you to buy something. The 500 VND seems to be useful in some shopping centers in Vietnam when they need to return the excess money to customers.
Travelers’ Cheque
The yen is often represented by the symbol ¥, which resembles the capital letter Y with two horizontal dashes. The Japanese yen is widely traded in the global foreign exchange market and is considered to be the third-most traded currency, following the U.S. dollar and the https://topbitcoinnews.org/how-to-buy-litecoin-with-paypal-buy-litecoin/ Euro. There are plenty of bureaus de change at Ho Chi Min City Airport, in Hanoi and Hoi An. Some of the best travel money cards include debit, credit and prepaid cards. International credit and debit cards are widely accepted, as long as they have a four-digit PIN.
Travelling to Vietnam
Depending on your bank, you may have to pay for overseas ATM withdrawals and currency conversions. To reduce the amount you’ll pay in fees, try to withdraw just the right amount of money you’ll need for the duration of your trip. Vietcombank ANZ, Citibank and HSBC all provide lots of ATMs in Vietnam. Even though they are easy to find, they have low daily withdrawal limits of between $100 – $200. In addition check your card will be accepted by the ATM to avoid it getting stuck and for safety reasons don’t withdraw Vietnamese Dong from an ATM at night. The 3 most popular ways to exchange currency in Vietnam including using ATMs, currency exchange offices, or travellers cheques.
Vietnam currency: The NEW and DETAILED guide for first-time backpackers
In 1978, aluminium coins dated 1976 were introduced in denominations of 1, 2 and 5 hao, as well as 1 dong. The coins were minted by the Berlin Mint in the German Democratic Republic and bear the state crest on the obverse and denomination on the reverse. Due to the chronic inflation experienced by Vietnam during the 1980s and 1990s, these coins lost all their relevant value and no coins were circulated for many years https://currency-trading.org/cryptocurrencies/bitcoin-diamond-price-chart-market-cap-bcd-coin/ after this series. It is needless to say, that only cards of International Payment Systems (IPS) such as Master Card, Visa, JBC or American Express can be used to pay for goods and services. The only thing that has been stable since the State Bank of Vietnam issued the Vietnam dong has been the Vietnamese currency symbol. To jump-start the economy, the government encouraged people to start their own businesses.
USD – US Dollar
Modern banknotes range from 100 to 500,000 đồngs, with the largest note being the equivalent of about $22 USD. The Vietnamese đồng (VND) is primarily issued by the State Bank of Vietnam, which is the Southeast Asian country’s central bank. Its name comes from the Vietnamese https://cryptonews.wiki/it-security-specialist-career-path-training-jobs/ word for “copper.” The đồng has been the official currency of Vietnam since 1978, though it’s undergone many changes since its inception. In 2003, Vietnam started replacing the cotton notes with plastic polymer notes, arguing that it would reduce printing costs.
