The difference between a good and bad exchange rate on $500 (about 12.7 million VND) can be 200,000 to 400,000 VND ($8-16). That covers several meals, a day of motorbike rental, or a decent massage. The gap between airport counters and gold shops is real money.
This guide breaks down every option for getting dong, compares the rates honestly, and explains the scams that target currency exchange in Vietnam.
Understanding the Vietnamese dong
The official currency is the Vietnamese dong, abbreviated as VND or shown with the symbol ₫. Notes come in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000 and 500,000 VND. The largest note is worth roughly $20.
The dong has no coins. Even the smallest transactions round to 1,000 VND. Prices in markets are always quoted in thousands, so "50" means 50,000 VND, not 50 dong.
One of the biggest mistakes visitors make is confusing the zeroes. The 10,000 and 100,000 notes look similar at a glance. The 20,000 and 500,000 notes share a blue-green color scheme. Count the zeroes carefully before handing over money.
The exchange rate fluctuates daily. As of early 2026, the rate hovers around 25,400 to 25,800 VND per US dollar. Euros, Australian dollars, British pounds and Singapore dollars are also widely accepted at exchange counters. Less common currencies like Canadian dollars or Swiss francs work in major cities but may get worse rates.
Gold shops: the best rates in Vietnam
Gold and jewelry shops have long served as Vietnam's unofficial currency exchanges. They buy and sell foreign currency alongside gold, and they consistently offer the best rates in the country.
The mechanics are simple. Walk in, show your passport, hand over your cash, and receive dong. No paperwork beyond that. Most shops in tourist areas have staff who speak enough English to handle the transaction.
The rate difference matters. On a typical day, a gold shop might offer 25,700 VND per dollar while a bank offers 25,300 and an airport counter offers 24,800. On $500, that's a difference of 450,000 VND ($18) between the gold shop and the airport.
Where to find reputable gold shops:
- Hanoi: Ha Trung Street in the Old Quarter has a cluster of gold shops that exchange currency. Look for busy shops with multiple staff and glass counters.
- Ho Chi Minh City: The area around Ben Thanh Market, particularly on Le Thanh Ton and Nguyen An Ninh streets, has many exchange shops. Tan Dinh Market also has several.
- Da Nang: Bach Dang Street near the Han River has a few reliable gold shops.
- Hoi An: The Old Town has several jewelry shops that exchange money, though rates can be slightly worse than Hanoi or HCMC.
A few rules for gold shop exchanges:
- Count your money before leaving the counter. Count it twice.
- Ask the rate before handing over your cash. Confirm the total in dong before the transaction.
- Bring clean, undamaged notes. Torn or heavily creased bills may be rejected or get a worse rate.
- Avoid exchanging on Sundays or during Tet when many shops close.
Pro tip: Gold shops near tourist markets sometimes quote a "walking rate" that is worse than what locals get. If the rate seems low, walk to the next shop. The rates vary by 100-300 VND per dollar between shops on the same street.
Banks: safe but with a catch
Banks in Vietnam exchange foreign currency at official rates. They are reliable, regulated and impossible to scam. The downside is the spread.
Vietnamese banks typically offer rates 0.5-1% worse than gold shops. They also charge a commission or fee on top of the exchange rate. Some banks waive the fee for amounts over $500, others do not.
Major banks that exchange currency include Vietcombank, BIDV, Techcombank, ACB and HSBC. All have branches in major cities. Exchange services require a passport and sometimes proof of entry into Vietnam.
The process takes longer than a gold shop. Expect to wait 15-30 minutes for the transaction, as staff may need manager approval for larger amounts. Some branches require you to fill out a form in Vietnamese.
Banks make sense for large transactions where the security of a regulated institution matters more than the rate. For a $2,000 exchange, the 0.5% difference between a bank and gold shop is about $10. Some travelers prefer paying that for peace of mind.
For amounts under $500, the bank's commission can eat into the rate significantly. A 2% commission on a $200 exchange is $4, which negates any benefit over a gold shop.
Warning: Some bank branches, especially in smaller cities, may refuse to exchange currency if you are not a customer. This is not a scam, just a policy. Call ahead or try a gold shop instead.
Airport exchange counters: convenient but expensive
Every international airport in Vietnam has exchange counters. They are open long hours, have English-speaking staff, and process transactions quickly. They also offer the worst rates in the country.
The spread at airport counters is typically 3-5% below the interbank rate. On a $300 exchange, that means losing $9-15 compared to a gold shop in the city.
The only reason to use an airport counter is for immediate cash needs. Taxis in Vietnam generally require cash, and while Grab accepts cards, the driver may not have change for large bills. Exchanging $50-100 at the airport covers the ride into town without losing much in absolute terms.
Do not exchange your entire travel budget at the airport. The 3-5% loss on $1,000 is $30-50, which is a significant amount in Vietnam.
Some airports, including Noi Bai in Hanoi and Tan Son Nhat in HCMC, have ATMs in the arrivals hall. Using an ATM at the airport gives a much better rate than the exchange counters.
Pro tip: For the first day, exchange just enough at the airport for transport and a meal. Plan to exchange the rest at a gold shop or ATM in the city center.
ATMs: the hidden champion
ATMs in Vietnam dispense dong at the interbank exchange rate, which is the best rate available to individuals. The catch is fees.
Vietnamese banks charge ATM withdrawal fees of 20,000 to 50,000 VND ($0.80-2) per transaction. Your home bank may charge an additional international withdrawal fee and a currency conversion fee. Even with these fees, ATMs often beat airport counters and sometimes match gold shops.
The math on a $200 withdrawal: at the interbank rate of 25,700 VND per dollar, the withdrawal is 5,140,000 VND. With a 40,000 VND ATM fee, the effective rate drops to about 25,500. That is still better than most bank exchange counters and close to gold shop rates.
ATM tips for Vietnam:
- Use ATMs from major banks like Vietcombank, Techcombank, BIDV or VPBank. These are more reliable and less likely to be tampered with.
- Avoid standalone ATMs in dark or isolated areas. Use ATMs inside bank branches or shopping malls.
- Withdraw larger amounts less frequently to minimize fees. Withdrawing 5,000,000 VND ($200) once is cheaper than 1,000,000 VND ($40) five times.
- Decline the ATM's currency conversion offer. When the screen asks if you want to be charged in your home currency, always choose VND. The ATM's conversion rate is typically 3-5% worse than your bank's rate.
- Notify your bank before traveling to Vietnam to avoid your card being blocked.
Some cards refund ATM fees. If your bank offers this, ATMs become the clear best option for getting dong.
Warning: Card skimming exists in Vietnam, though it is less common than in some other Southeast Asian countries. Use ATMs at bank branches during business hours, and check the card slot for anything unusual before inserting your card.
The comparison table
| Method | Rate vs interbank | Fees | Best for | Worst for |
|---|---|---|---|---|
| Gold shops | 0.2-0.5% below | None | Cash exchanges over $100 | Large amounts needing receipts |
| Banks | 0.5-1% below | 0-2% commission | Large transactions, formal receipts | Small exchanges |
| Airport counters | 3-5% below | None visible | Small emergency cash | Anything over $100 |
| ATMs | Interbank rate | 20,000-50,000 VND per withdrawal | Regular cash needs | Multiple small withdrawals |
| Credit cards | Interbank rate | 1-3% foreign transaction fee | Hotels, restaurants, chain stores | Street food, markets, small shops |
Common scams and how to avoid them
Short-changing
The most common currency scam in Vietnam is simple short-changing. The exchanger counts the money too quickly, or counts in a way that is hard to follow, and hands over less than agreed.
This happens at exchange counters, gold shops, and when paying for goods. The counter is usually fast, and the stack of dong notes makes it hard to count accurately.
The defense is to count the money yourself, slowly, before leaving the counter. If the amount is wrong, point it out immediately. Most shops will correct the error and apologize. Some will not.
Old or damaged notes
Exchangers in Vietnam may refuse notes that are old, torn, heavily creased or have writing on them. This is more common at gold shops than banks.
The refusal is sometimes legitimate. Vietnamese banks have strict standards for accepting foreign currency, and shops that cannot deposit damaged notes will not accept them.
However, some shops use this as a negotiation tactic to offer a worse rate. If a shop refuses your note, take it to another shop or a bank. Do not accept a significantly worse rate for a slightly creased bill.
The "no commission" lie
Some exchange counters advertise "no commission" or "0% fee." This is technically true but misleading. The commission is hidden in the exchange rate.
A counter advertising "no commission" might offer 24,900 VND per dollar when the going rate is 25,700. The 800 VND difference is effectively a 3% commission, just not labeled as such.
Always compare the rate offered, not the fees charged. The rate is what matters.
Fake money
Counterfeit dong exists, though it is rare. The 500,000 VND note is the most commonly counterfeited.
The best defense is to exchange money at reputable shops and banks. Avoid exchanging with individuals on the street, no matter how good the rate seems.
When receiving large notes, check for the security features: the watermark, the security thread, and the texture of the paper. Real dong notes have a distinct feel.
The "wrong" denomination trick
A variant of short-changing involves the exchanger counting out the correct number of notes but including lower denominations than expected. For example, counting five 100,000 VND notes when the agreement was for five 200,000 VND notes.
This is why counting the money yourself matters. Count the total value, not just the number of notes.
Pro tip: Carry a small calculator or use the calculator app on your phone. Before any exchange, type in the agreed rate and amount. This makes it easy to verify the total quickly.
Practical tips for managing cash in Vietnam
How much cash to carry
Vietnam is still largely a cash society. While urban areas increasingly accept cards, most transactions under 200,000 VND ($8) are cash-only.
A reasonable daily cash budget for a mid-range traveler is 1,000,000 to 1,500,000 VND ($40-60) per person. This covers meals, transport, entrance fees and incidentals. Accommodation is usually paid by card or in larger cash amounts.
Carrying more than 5,000,000 VND ($200) in cash is unnecessary and increases the risk of loss or theft. Withdraw or exchange smaller amounts more frequently.
Splitting your money
Do not keep all your cash in one place. A money belt or neck pouch for the bulk of your cash, with a smaller amount in a wallet or pocket for daily spending, is the standard approach.
Hotel safes are generally reliable in reputable establishments. Use them for passports, extra cash and valuables.
Using cards
Credit cards work at hotels, chain restaurants, supermarkets, and many mid-range and upscale restaurants in major cities. Visa and Mastercard are widely accepted. American Express is less common.
Smaller establishments, markets, street food stalls and most family-run businesses are cash-only. Even in establishments that accept cards, there may be a minimum spend or a 2-3% surcharge.
Contactless payments are growing in Vietnam. Vietnamese payment apps like MoMo and ZaloPay are widely used by locals, but they require a Vietnamese bank account. Apple Pay and Google Pay work at international chains but not at most local businesses.
When to exchange
The dong is a managed currency with a relatively stable exchange rate. There is no advantage to timing your exchange to market movements. The rate will not change significantly during a typical 2-3 week trip.
The practical advice is to exchange money as you need it, in smaller amounts, at the best available rate. This minimizes the risk of holding too much dong at the end of your trip.
Exchanging dong back
At the end of a trip, leftover dong can be exchanged back to your home currency. Gold shops and banks will do this, but the rate is worse than the buy rate.
The easiest approach is to spend down your dong in the last few days. Buy souvenirs, have a final nice meal, or pay for your airport transfer in cash.
If you have significant leftover dong, exchange it back at a gold shop before leaving. The rate will be 1-2% worse than when you bought, which is a small price for not wasting the money.
What about US dollars?
US dollars are widely accepted in Vietnam, particularly in tourist areas. Hotels, tour operators and some restaurants quote prices in dollars. However, paying in dollars is almost always worse than paying in dong.
The exchange rate offered when paying in dollars is typically 1-3% worse than the actual rate. You will also receive change in dong, often at a rate that favors the seller.
The exception is for large transactions like hotel bills or tour packages that are quoted in dollars. In these cases, paying in dollars may be simpler and avoid double conversion.
For everything else, use dong.
Exchanging money before you arrive
Some travelers exchange currency in their home country before flying to Vietnam. This is rarely a good idea.
Exchange rates outside Vietnam are typically worse than in-country rates. Banks and exchange services in the US, Europe or Australia add a margin that makes the rate 3-5% worse than what a gold shop in Hanoi offers.
The only exception is if you are arriving late at night or at a time when airport exchange counters and ATMs are unavailable. Even then, exchanging a small amount at home is enough to cover the first few hours.
Final thoughts on money in Vietnam
The practical approach to money in Vietnam is straightforward. Use ATMs for most cash needs, exchange larger amounts at gold shops when the rate is favorable, and avoid airport counters except for small emergency amounts. Count your money every time. Keep most of it in a safe place. And do not carry more than you need for a day or two.
The dong is a fascinating currency with its many zeroes and colorful notes. Once comfortable with the denominations and the exchange process, it becomes second nature. The key is to stay aware, count carefully, and never assume the rate you are offered is the best one available.
FAQ
Q: Is it better to use cash or cards in Vietnam? Cash is better for most transactions. Cards work at hotels, chain restaurants and supermarkets, but street food, markets, local restaurants and small shops are cash-only. Plan to pay cash for anything under 200,000 VND ($8).
Q: How much cash should I carry per day in Vietnam? A reasonable daily cash budget is 1,000,000 to 1,500,000 VND ($40-60) per person for meals, transport, entrance fees and incidentals. Accommodation is usually paid separately by card or in larger cash amounts.
Q: Are US dollars accepted in Vietnam? US dollars are accepted in tourist areas, hotels and for large transactions like tours and some hotels. However, the rate offered is usually 1-3% worse than exchanging to dong. Use dong for everyday purchases.
Q: Can I use my foreign debit card at ATMs in Vietnam? Yes. Vietnamese ATMs accept international cards from Visa, Mastercard, Cirrus and Plus networks. Expect a withdrawal fee of 20,000 to 50,000 VND ($0.80-2) from the Vietnamese bank, plus any fees from your home bank.
Q: What is the best currency to bring to Vietnam? US dollars are the most widely accepted and get the best rates. Euros, Australian dollars, British pounds and Singapore dollars also work well. Less common currencies may be refused or get poor rates.
Q: Is it safe to exchange money at gold shops in Vietnam? Yes, at reputable shops. Look for busy shops with multiple staff and glass counters. Count your money before leaving. Avoid individuals offering street exchange, regardless of the rate.
Q: What should I do with leftover dong at the end of my trip? Spend it down in the last few days, or exchange it back at a gold shop before leaving. The buy-back rate is worse than the sell rate, so try to avoid having large amounts of dong left over.