Money and currency in Vietnam city | ExpatWoman.com
 

Money and currency in Vietnam city

The currency used in Vietnam is called the Vietnamese dong and is generally abbreviated to VND, here's our guide to local currency

Posted on

3 June 2014

Last updated on 29 June 2017
Money and currency in Vietnam city

The currency used in Vietnam is called the Vietnamese Dong and is generally abbreviated to VND. The symbol for the dong is ₫.


If you’re moving to Vietnam for the first time, dealing with the money may be a little frightening because of the many zeros the notes have. The inflation rate in Vietnam had caused the currency to soar and $1USD is worth approximately VND22,228. For more information on the state of the currency visit the State Bank of Vietnam Website>> 


Currency notes

The dong is the only currency recognised in Vietnam. However, people are always desperate to get their hands on US dollars and there is a demand on the black market for dollars, so almost everyone is willing to exchange them for you - under the table of course. However, there are legitimate exchange facilities within the country in banks and in some shops.

SEE ALSO: Guide to cost of living in Vietnam

The currency consists of both coins and banknotes. The coins come in the common denominations of ₫200, ₫500, ₫1000, ₫2000, ₫5000. The frequently used banknotes are the ₫100, ₫200, ₫500, ₫1000, ₫2000, ₫5000, ₫10000, ₫20000, ₫500000.