The Vietnamese Dong: A Guide to Vietnam's Currency

The Vietnamese Dong is the official currency of Vietnam, and it's a vital part of your travel experience in the country.

The Dong is subdivided into 10,000 smaller units called Hào, which is often seen on price tags and menus.

You can exchange your money for Dong at airports, banks, and currency exchange offices, but be aware that the exchange rates may vary.

It's a good idea to have some local currency with you when you arrive in Vietnam, so you can grab a taxi or buy a snack right away.

The Vietnamese dong has a rich history that spans several decades. The dong officially replaced the French Indochinese piastre in 1946.

In 1978, the first dong coins were introduced in denominations of 1, 2, and 5 hao, as well as 1 dong. These coins were minted by the Berlin Mint in the German Democratic Republic.

The 1976 series of coins had a unique design, featuring the state crest on the obverse and denomination on the reverse. However, due to chronic inflation in Vietnam during the 1980s and 1990s, these coins lost all their value.

Here's a breakdown of the 1976 series of coins:

The dong has undergone several changes over the years, including a revaluation in the mid-1980s, making every new dong worth 10 old dong.

The Vietnamese đồng is a currency you might not know much about, but it's definitely worth learning about. The currency symbol for Vietnam is ₫.

The Vietnamese đồng is issued by the State Bank of Vietnam, which has introduced banknotes in various denominations, including 100, 200, 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, and 500,000.

The đồng is composed of 10 hào and 100 xu, but neither of these is used in Vietnam today. The State Bank of Vietnam has also minted coins in 200, 500, 1,000, 2,000, and 5,000 đồng denominations.

The Vietnamese đồng has a long history, dating back to 1946 when the Viet Minh government introduced national money to replace the French Indochinese piastre. The đồng was reunified in 1978 after Vietnam itself was reunified.

The đồng is managed against the U.S. dollar, but it's one of the poorest currencies worldwide according to the global currency market. In 2023, one U.S. dollar was equal to roughly 23,631 VND, based on the exchange rate.

Here are some approximate exchange rates for the Vietnamese đồng with popular currency pairings:

The Vietnamese đồng is an exotic currency because of the lack of interest in it on the forex market or in global finance.

The Vietnamese đồng is the official currency of Vietnam, denoted by the symbol ₫.

The currency code for the Vietnamese đồng is VND, and it's issued by the State Bank of Vietnam.

You'll find a portrait of Ho Chi Minh on the front of all Vietnamese banknotes, while the images on the back vary by denomination.

The Vietnamese đồng is made up of 10 hào and 100 xu, although neither of these subunits is used in everyday transactions.

The currency was established in 1946, when the Viet Minh government introduced national money to replace the French Indochinese piastre.

The Vietnamese đồng has been marked by chronic inflation, making it one of the poorest currencies worldwide according to the global currency market.

Here's a rough idea of the exchange rates for the Vietnamese đồng with popular currencies:

The exchange rate for the Vietnamese đồng is closely managed against the U.S. dollar, and it's one of the most stable Asian currencies.

Banknotes in Vietnam have a long history, with the first notes introduced in 1978 by the State Bank of Vietnam. These notes were in denominations of 5 hao, 1, 5, 10, 20, and 50 dong, dated 1976.

The first dong series was discontinued in 1985 due to inflation and economic instability. The second dong series, introduced in 1985, featured notes in denominations of 5 hao, 1, 2, 5, 10, 20, 30, 50, 100, and 500 dong.

The current series of banknotes features denominations of 100 VND to 500,000 VND, with each note having a unique image on the back, such as Pho Minh Tower, a tractor, or the Temple of Literature.

The State Bank of Vietnam is also responsible for minting coins, including denominations of 200 VND, 500 VND, 1,000 VND, 2,000 VND, and 5,000 VND.

Banknotes are a vital part of the Vietnamese currency, and understanding their history and design can be fascinating. The State Bank of Vietnam introduced the first banknotes in 1978, with denominations ranging from 5 hao to 50 dong. These notes were dated 1976 and featured various images and themes.

The first series of banknotes, introduced in 1978, had a distinctive design and size. For example, the 5 hao note was 107 × 53 mm in size and had a purple-brown color. The 1 dong note was 115 × 57 mm and had a brown color.

The second series of banknotes, introduced in 1985, had a different design and size. The 5 hao note was 100 × 50 mm in size and had a pink color. The 1 dong note was 114 × 57 mm and had a blue-green color.

Today, Vietnamese banknotes are made from two different materials: cotton and polymer. The cotton family includes notes with denominations of 200, 500, 1,000, 2,000, and 5,000 VND. These notes are often used for collecting and gambling, especially during holidays like Tet.

Here's a summary of the current cotton family banknotes:

These notes are easily torn and often damaged by water, adding to their perceived lower value.

Coins are rarely used in Vietnamese currency due to chronic inflation, which has led to a pause in coin production at various points.

The Vietnamese government resumed coin production in 2003, but only for specific denominations like 200, 500, 1,000, 2,000, and 5,000 đồng.

Some businesses and even banks may refuse coins because they're seen as collector's items due to their low value.

You'll rarely see coins in circulation, and even when you do, it's often because they're being used to buy small items.

The back of Vietnamese dong banknotes features national symbols that can help you distinguish between different denominations.

Low-value notes, like those in the cotton family, are essentially worthless and rarely used.

As of June 26, 2023, 1 USD is equivalent to 23,537.722129 VND, which is the current exchange rate.

You may find that using a dedicated transfer service is a more affordable way to make a EUR to VND, USD to VND, GBP to VND, or any other currency to VND exchange.

Transfer companies based entirely online, such as Remitly, are more affordable than traditional transfers and don't come with hidden fees.

If you're in the country, you can often use USD instead of local banknotes, which is convenient.

Credit cards are widely accepted in major cities, making it easy to make purchases.

If you want cash on hand, you can use your debit card to withdraw from ATMs.