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Wednesday, February 12, 2014

What is the currency in Vietnam

The official currency in Vietnam is Dong. In 2015 trades at approximately 22,000 VN dong to US dollar, you can enter this link http://acb.com.vn/wps/portal/en/exchange (website of ACB bank) to see the daily exchange rate.
The largest denomination is currently 500,000 dong (approx. USD 24). Be careful, the 20,000 notes look only slightly different from the 500,000 one but the value is a big gap. Handy tip: Keep 500,000 dong notes separate from your other dong notes. Less chance of confusion then. Other paper notes are 1,000, 2,000, 5,000; 10,000, 20,000, 50,000, 100,000 and 200,000 Dong. Most are clearly identifiable by colour. 

There are a number of international banks operating in both Hanoi and Ho Chi Minh City with 24hour cash withdrawal facilities. Most ATMs enables you to get cash from VISA, MASTER CARD, Cirrus, Maestro, Plus and JCB network. 

Under Vietnamese law, ATM may only dispense cash in Vietnamese Dong. Current amounts that can be withdrawn at any one time is usually very low, 2,000,000 Dong with an additional usage charge variable from 30.000d up. On March 2014 the situation is getting worse particularly for debit card using MasterCard circuit (Cirrus, Maestro), while Visa debit is accepted by more ATMs. Banks are increasing fee against foreign debit cards, both Techcombank and Vietinbank charge 55.000d (the last even without showing the amount, just a generic message "There will be fees", or even without a message). Avoid both, use SCB. Vietcom bank usually charges 20,000 dong.

Some popular types of Vietnamese dong:


 

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