Vietnam Currency Guide: Exchange Rates, ATMs, Payment Methods

Are you an Indian traveller looking to travel to Vietnam? Before you book your flight to Hanoi or Ho Chi Minh City, you must explore the country's currency. Vietnam's official currency is the Vietnamese Dong (VND). The current exchange rate from INR (₹) to VND is 1 INR = 273-276 VND, although it fluctuates based on the market.

What is the Currency in Vietnam?

The official currency of Vietnam is Vietnamese Dong (VND), symbolised as Đ in Vietnamese. The currency is issued by the State Bank of Vietnam.

The currency notes are available in traditional cotton paper for lower values like VND 5,000, VND 2,000, VND 1,000, VND 500 and VND 200 and highly durable polymer for higher ones such VND 500,000, VND 200,000, VND 100,000, VND 50,000, VND 20,000 and VND 10,000.

Vietnamese currency is one of the lower-denomination currencies in the world. Therefore, you shouldn't be surprised to see prices running into hundreds, thousands or even millions of Dong.

Understanding VND Denominations and Common Traps

From 100 to 500,000, VND uses a wide range of denomination. So, currently, the following ones are available.

• VND 100: Blackish-brown cotton paper. (legally tendered but practically out of circulation)
• VND 200: Reddish-brown cotton paper. (legally tendered but practically out of circulation)
• VND 500: Dark red cotton paper.
• VND 1,000: Purple cotton paper.
• VND 2,000 : Dark brown cotton paper bills.
• VND 5,000: Dark blue cotton paper material.
• VND 10,000: Dark brown and green polymer note.
• VND 20,000: Dark blue polymer note.
• VND 50,000: Red and purplish-brown polymer note.
• VND 100,000: Dark green polymer banknote.
• VND 200,000: Brownish-red polymer note.
• VND 500,000: Blue and purple polymer note.

Note: Watch out for the VND 20,000 and VND 500,000 notes. Both look similar under dim street lights. Always check the zeros carefully before handing over cash.

Can You Use Indian Rupees in Vietnam?

One very common question Indian travellers traveling to Vietnam ask is, can we use Indian Rupees in Vietnam?

• The short answer is no. Indian currency is nowhere accepted in Vietnam, neither at the local markets nor official exchange counters.
• Vietnamese vendors and shop owners accept only Vietnamese Dong in cash.
• Hotels and upscale establishments accept major debit/credit cards.
• Most foreign exchange centres or gold shops in Hanoi or Ho Chi Minh City do not directly trade in INR. Even if some do, they may offer very poor conversion rates.

USD vs INR Exchange in Vietnam for Indian Tourists

When you evaluate USD vs INR exchange in Vietnam for Indian tourists, you must carry US Dollars (USD) or a zero-forex card instead of depending directly on INR. Since Vietnam doesn't trade INR, converting INR directly into VND on arrival would yield unfavorable or poor rates. Thus, to reap the best value for your money, you can consider:

The USD Cash Route (Best for Cash Buyers)

Buy crisp, clean, high-denomination USD notes ($50 or $100 bills printed after 2013) in India before you depart. Once you arrive in Vietnam, convert your USD notes to VND at local exchange counters or gold shops.

The Zero-Forex Card Route (Convenient)

Use an Indian zero-forex mark-up debit or forex card to pay at card-friendly merchants or withdraw VND cash directly from local ATMs.

VND Exchange Rate with Some Other Major Currencies Worldwide

Here's the current exchange rate of VND with some of the major, widely traded currencies.

Note: The exchange rate is current and may fluctuate. Travellers are advised to check the latest rate on the day of conversion.

Where to Exchange Money in Vietnam for Indians?

Knowing where to exchange money in Vietnam for Indians helps ensure you secure optimum rates without paying excessive hidden commissions.

Gold Shops Exchange VND Hanoi Ho Chi Minh

If you have USD cash, you can exchange INR to VND in Vietnam (via USD) at local gold and jewellery shops, which, although aren't official currency exchange hubs. Yet, they may have consistently good exchange rates.

So, where exactly can you exchange USD to VND?

In Hanoi, you can go to Hà Trung Street in the Old Quarter. The street is famous for gold shops that offer competitive exchange rates.

On the other hand, if you are Ho Chi Minh City, you can head to Bến Thành Market, specifically on Nguyễn An Ninh Street.

Exchange Rate of VND at the Airport vs Other Parts of the City

While comparing the exchange rate of VND at the airport vs other parts of the city, airport exchange counters or money changers at the Noi Bai Airport in Hanoi or Tan Son Nhat Airport in Ho Chi Minh City offer poorer rates.

Exchanges at the airport charge a high convenience markup. Hence, you can consider only a small amount of USD 20 or 50 at the airport to pay for the local SIM card and taxi.

Once you enter the city, you can head to the local markets (particularly those mentioned above) to exchange the remaining cash at gold shops or city bank branches.

Popular Payment Methods Accepted in Vietnam

• The most prevalent payment method in Vietnam is cash paid in Vietnamese Dong.
• The form of payment is particularly used for daily expenses and outside major tourist hubs. Food vendors, local markets and mom-and-pop shops, taxis and cyclos also transact in cash. Some eCommerce orders are also paid in cash.
• It is recommended to carry adequate cash while travelling to rural, remote and underbanked areas.
• Now, what about card payments? Are cards accepted in Vietnam?
• Yes. Card payments are becoming increasingly common in the country, particularly the bigger cities and key tourist destinations.
• For Indians, Visa, Mastercard and JCB are the major international cards accepted in Vietnam.
• They can be used in mid-range to high-end hotels, larger restaurants, department stores, some tourist attractions and shopping malls across cities such as Hanoi, Da Nang and Ho Chi Minh City.

Transaction Fees and Exchange Rates

While using a card is convenient, you must be aware of international transaction fees from your Indian bank. The charges often range from 1 to 3 per cent per card payment.

Important Points to Remember

• Use ATMs linked to reputable brands, shopping centres or big branches.
• Avoid visiting and withdrawing cash from isolated ATMs whenever possible
• Even while using your card in a shop or restaurant, ensure it remains in sight.
• Furthermore, for online payments such as attraction tickets or hotel bookings, ensure the website you use to pay the money is reliable and uses a secure https connection.

Digital Wallets and Mobile Payments

Some leading alternatives include MoMo, ZaloPay, Viettel Pay, Moca and ShopeePay. However, you usually need a local Vietnamese bank account or phone number to use these platforms.

Note: You must check the reliability of each digital wallet and mobile payment application before using it for payments.

How to Withdraw VND from Vietnam ATMs Using an Indian Debit Card

One of the simplest ways to get local currency is to withdraw VND from Vietnam ATM Indian debit card. Vietnam has a extensive network of ATMs across all major cities and tourist destinations.

Some popular options include:

Note: Withdrawal charges and fees may change anytime. You must check the latest rates before withdrawal.

Practical Tips for Indian Travellers

Here are some practical, useful tips for Indian travellers before you catch your flight to Vietnam.

• Inform Your Bank Before Flying: Enable international usage and ATM cash withdrawal on your Indian debit/credit cards through your net banking app before you depart from India.
• Keep Small Notes Handy: Break high-denomination notes such as 500,000 at convenience stores or supermarket chains. That's because street vendors and coffee stalls usually struggle to provide change for large notes on small purchases.
• Check USD Bills Before Exchange: While carrying USD, ensure your notes are crisp, tear-free, uncreased and printed after 2013. Banks or gold shops may refuse to accept worn or marked notes.

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