Money

Currency: Dông (VND). Notes are in denominations of VND 500,000, 200,000, 100,000, 50,000, 20,000, 10,000, 5000, 2000, 1000, 500, 200 and 100. Coins are in denominations of VND5000, 2000, 1000, 500 and 200.

 

Currency Exchange: The US Dollar is the most favored foreign currency. Australian, British, Japanese, Singaporean and Thai currency, as well as the Euro, can usually be changed in the larger cities; great difficulty may be encountered in trying to exchange any other currencies. Hotels generally change major foreign currencies at the prevailing bank rate. Do not change any money on the streets, their is no advantage for doing so. Do change them at a jeweler’s (one that sells gold); shop around and you’ll get a better rate than at the state-controlled bank.

 

Credit / Debit Cards and ATMs: An increasing number of outlets accept MasterCard and Visa. Amex representations are growing rapidly. Most outlets that accept credit cards will charge you an extra 3% per transaction. Outside main centers, it is wise to carry cash even though ATMs are becoming more common. The withdrawal limit is 2 Million VND (USD $100) per transaction and the usual cost for each is around 20,000 VND (1 Euro). Locate ATMs accepting VISA cards here. Locate ATMs accepting MasterCard here.

 

Travelers Check Advice: These are widely accepted in hotels and banks. Travelers are advised to take traveler’s checks in US Dollars or Euros.

 

Currency Restrictions: Import and export of foreign currency over US$7000 is subject to declaration. Proof of all expenses should be kept.

 

Banking Hours: Monday to Friday from 07H30/08H00 to 11H30 am and from 13H00 to 16H00 pm. Do take your passport with you or a good copy as this is necessary to all dealings with officialdom.

 

Approximate exchange rates (01/01/2007):
1USD equals 16,000 dong
1AUD equals 12,000 dong
1CAD equals 14,000 dong
1GBP equals 29,500 dong
1EUR equals 20,000 dong

 

For up-to-date exchange rates, please visit e.g. www.oanda.com