Dollars or Dong in Vietnam?
Replies: 22 - Last Post: Sep 30, 2012 3:46 AM Last Post By: mooslie
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8
Another option is to simply bring your ATM card along. I've never needed to exchange money in Vietnam - I stop at any of the ubiquitous bank machines and take out a couple million dong whenever I need cash. Larger expenditures can be done by credit card.9
I agree with #8 - we usually travel with our ATM card and a bit of USD as a backup. I understand it may be difficult or even impossible to use your ATM card depending on where you are from. In that case, I recommend carrying USD and changing to VND. As others noted, you can do this at some gold shops or even special currency exchange locations in Hanoi and you can even get a better rate than the banks. (That's because those shops are willing to hang on to the cash when the exchange rate becomes more favorable and then they exchange it at an even higher rate and keep the extra.)11
I agree - use Dong, it is the local currency! A few US$ may be useful for visas, etc and $ are less bulky than Dong.Re what to bring, you can change Euros, Pounds, AU$, etc, etc in banks, at airports and moneychangers in big cities. Maybe the rates aren't so good as the gold merchants for US$, but you have to factor in how much it is to change your money into US$ back home. If it is like in the UK, there is big overhead. In contrast in Bangkok the charge is very small and makes it more worthwhile to change to US$.
I'm guessing now but reckon it would probably be cheaper to change UK Pounds to Dong then back to US$ in Vn, than it would be to get the $s in the UK (it certainly is in Bangkok).
So maybe a strategy would be bring home currency, find bank etc with best rate, change to Dong and maybe buy back a few $s if you feel you need them.
Personally I use ATM and have a few cash $s.
12
VND is best, if you are in a touristy area, it's easy to find a place that will exchange it. Nam's not really like Cambodia where they like to take dollars and give change in the local currency.14
If you got ATM card like HSBC, ANZ it will also be quite easily to withdraw Dong from that, i remember it will charge around 2-3%, but i think you just wirthdraw couple of million dong so it wont cost much , plus the convenient.You can exchange it in gold shop, just find a market and there will be gold shop around
