Vietnamese Currency – How Easy to be a Millionaire!

 Vietnam is a beautiful country full of rich culture and history. Before embarking on your journey here, whether you’re on the shoestring or rolling in dough, it’s important to get to know what currency Vietnamese people use and familiarize yourself with the Vietnamese currency. 

This guide to Vietnamese currency provides a comprehensive overview of the currency used in the country, as well as tips for exchanging money and understanding banknotes. 

By understanding the local currency, you can ensure that you get a fair deal and avoid any potential misunderstandings. So let’s dive in and discover exciting things about Vietnamese money!

History of Vietnamese Currency 

Throughout history, changes in currency have reflected not only the development of the economy but also changes in society and its people. Let’s take a look at the history of Vietnamese currency to gain a better understanding of this beautiful country.

Vietnamese Currency before 1975 

The history of Vietnamese currency dates back to the Nguyen Dynasty in the 19th century when the currency system was relatively simple and consisted mainly of copper coins. 

Since December 1st, 1945, when the Democratic Republic of Vietnam issued its first currency, there have been many different types of coins, paper money, and polymer money. 

After the division of Vietnam into North and South in 1954, two separate currencies were issued: the North Vietnamese Dong and the South Vietnamese Dong. The two currencies had different exchange rates and were not interchangeable. This created significant economic challenges, particularly for those who traveled between the two regions.

(source: kimtuthap)

Vietnamese Currency after 1975  

In 1975, after the reunification of Vietnam, the two currencies were merged into the Vietnamese Dong as the official currency and the currency symbol is VND.

The current polymer banknotes were introduced in 2003 to replace the older paper notes, which were prone to wear and tear. The polymer notes are more durable and resistant to counterfeiting. 

The durability and resilience of polymer notes are due to their unique composition, which includes a thin layer of transparent plastic. This layer provides a level of protection against water, moisture, and general wear and tear that paper notes simply cannot match.

(source: vietnamplus)

The durability and resilience of polymer notes are due to their unique composition, which includes a thin layer of transparent plastic. This layer provides a level of protection against water, moisture, and general wear and tear that paper notes simply cannot match.

Now Vietnamese currency uses both paper banknotes and polymer banknotes. But the paper ones have lower values.  

Vietnamese Banknotes and How to Distinguish Them 

Vietnamese notes feature a variety of images and symbols that reflect Vietnam’s culture and history. Let’s discover the features of each Vietnamese banknote, which is really helpful for you to learn how to distinguish them. 

Comma and Dot 

Before you get to know more about Vietnamese banknotes, it is important to inform you that: In Vietnam, the way numbers are written differs from most countries in the world. 

Instead of using a comma to represent a thousand units and a dot for decimal ones, as is common practice, Vietnamese people use a dot for thousands and a comma for decimals. This can lead to confusion for those not familiar with the system.

For example, if you see a price of 500.000 VND, it actually represents 500,000 VND. Therefore, it is important to take extra care when reading and interpreting prices in Vietnam to avoid any misunderstandings that may arise. 

Vietnamese Banknotes 

One unique feature of almost all Vietnamese banknotes is that they showcase both a picture of President Ho Chi Minh on one side and a famous attraction in Vietnam on the other. We’ll check out each banknote and point out the ways they differ. 

500,000 VND ~ USD20

5000.000 VND – The biggest Vietnamese banknote. (source: sbv) 

The 500.000 VND banknote is blue in color and features the portrait of President Ho Chi Minh on the front. It is the highest denomination of Vietnamese banknotes currently in circulation.

On the other side of the banknote, you’ll find a picture of a house in the Sen Village, located in Nghe An, which is President Ho Chi Minh’s hometown. If you didn’t know, Ho Chi Minh was a great leader of the Vietnamese people. 

(source: vietnamonline)

This 5-compartment house is where he spent his childhood and now serves as a museum about his personal life and career, as well as that of his family. It’s definitely worth a visit if you’re in the area!

200,000 VND ~ USD9

(source: dulichvtv) 

The 200.000 VND banknote is yellow and orange in color. Similar to the 500.000 VND banknote, the front side is still the picture of President Ho Chi Minh. The back side is a picture of Ha Long Bay – a UNESCO World Heritage Site and one of the most beautiful places you must visit in Vietnam. 

100,000 VND ~ USD4

(Source: dulichvtv) 

Appearing on the polymer 100,000 VND bill is the image of the Temple of Literature. This is the symbol that represents the vision of education. The architecture embodies the spirit of promoting learning in the country, deserving to be a cultural icon of the thousand-year-old Thang Long land.

50,000 ~ USD2

(Source: dulichvtv) 

Another landmark is the Nghenh Luong Dinh-Phu Van Lau heritage site (Hue) printed on the 50,000 Vietnamese dong polymer banknote, which are architectural works associated with the history of the Nguyen dynasty. Nghenh Luong Dinh, located on the banks of the Huong River, was used as a resting place for the king before going down to the river to board the dragon boat or as a place to relax.

If you have not yet known anything about Hue, this is the former capital of Vietnam and is famous for the Complex of Hue Monuments – a UNESCO heritage site. Read our Hue tour for more information.

20,000 VND ~ less than USD1

(Source: dulichvtv) 

Hoi An Ancient Town is a UNESCO World Heritage site and a well-preserved example of a South-East trading port from the 15th to 19th century. It’s true to say that Hoi An Ancient town along with Hoi An lanterns are the pride of Vietnamese people, which embraces the ancient beauty of architecture and culture. Therefore, it wasn’t a surprise when the Japanese Bridge – an iconic sign of Hoi An was printed on the 20.000 VND banknote. 

Vietnamese Banknotes’ Similarities 

There are some similarities between certain notes due to their colors that you need to pay attention‌ to: 

• The 500.000 VND and the 20.000 VND (both bluish)
• The 200.000 VND and the 10.000 VND (both yellowish)

It’s important to note that these similarities are not a cause for concern, as each note has distinct features and security measures that make them easy to distinguish from each other. However, it is still a good idea to take a closer look when dealing with Vietnamese banknotes to avoid any confusion or mistakes.

How to Exchange Money in Vietnam

There are many options for exchanging money in Vietnam, but the best choice depends on your purpose and the amount of money you need to exchange. If you’re a business person exchanging a large amount of money, banks are the most suitable option since they are regulated by Vietnamese authorities.  

However, if you’re a traveler looking to exchange money for food, accommodation, and transportation, there are some more convenient options available:

Where to Exchange Money in Vietnam

• Local markets: Local markets such as Han Market and Con Market in Danang, or Dong Ba Market in Hue city, Ben Thanh Market in Ho Chi Minh City,… are the most convenient and popular places for international visitors to exchange money. Currency exchange services can also be found near jewelry shops. Look out for signs indicating currency exchange services along the way.
• Airports and hotels: Travelers can exchange money at the airport or their hotel, which is convenient but can come with lower exchange rates. One way to get around this is to exchange only a small amount of money at the airport or hotel and then wait until you can find a more favorable exchange rate elsewhere.
• Banks: There are many banks where you can exchange currency, such as Vietcombank, BIDV, and Techcombank. While ‌exchange rates may be low, you can often get a better rate if you exchange a larger amount of money. Keep in mind that banks may require identification and paperwork, but the added security might be worth the hassle. However, if you’re looking to exchange money outside of regular banking hours, this option may not be ideal.
• Local exchange offices: Another option is to use local exchange offices, which can offer competitive exchange rates and convenient hours of operation. Look for exchange offices that are located in busy areas with lots of foot traffic, as these tend to offer better rates. However, be sure to do your research and choose a reputable exchange office to avoid scams and fraud.

Tips for Exchanging Money in Vietnam 

Here are some tips to keep in mind when exchanging money in Vietnam:

• Be aware that the polymer Vietnamese notes can often stick together. Make sure you “flick” the notes when you count them out or you might end up paying double.

• Be aware of the current exchange rate and shop around for the best rate.
• Always count your money and check the exchange rate before you leave.
• Bring crisp, clean bills in good condition, as damaged bills may not be accepted for exchange.
• Consider exchanging only a small amount of money at the airport or hotel and waiting until you can find a more favorable exchange rate elsewhere.
• If you’re exchanging a large amount of money, consider using a bank for added security and regulation.

Mastering Vietnamese Money with Phoebe&Besties!

Understanding Vietnamese currency is essential when traveling or doing business in Vietnam to get fair deals and avoid getting scammed or breaking the bank. Be sure to familiarize yourself with Vietnamese currency by checking out our comprehensive guide. 

Let’s start learning how to use Vietnam Dong as Vietnamese people with us and make the locals jaw-drop by how skilled you are. 

Are you ready for a trip to Vietnam, a beautiful country with natural landscapes and rich historical culture? Whether you’re a solo traveler or traveling with your family and friends, we can help you plan your trip!

Visit our website or email us at xinchao@phoebeandbesties.com for a free itinerary and information. Don’t miss out on the chance to explore the wonders of Vietnam!

Frequently Asked Question