Vietnamese Currency: How to Recognize Each Note of Dong Correctly

A basic understanding of Vietnamese currency is necessary to ensure your trip to Vietnam is easier and runs smoothly.

Let’s dive deeper!

Preferred payment method in Vietnam

In Vietnam, cash is used frequently and widely. It is the most popular preferred payment method for all types of transactions and services.

You can easily use cash to buy almost all items or pay for services anywhere.

Therefore, it is much more difficult in Vietnam if you think you only need to pay for everything with credit cards, bank transfers, or international payment accounts.

Using cash has become a habit that is still gaining the favor of Vietnamese people beyond any other form of payment.

Thus, you have to use Vietnam Dong (VND) if you want to travel here.

VND exchange rate compared to other currencies

In Vietnam, the foreign exchange rate also fluctuates according to the market and the general fluctuations of the world situation.

However, these fluctuations are always within a specific range the government allows.

Therefore, before visiting Vietnam, tourists should learn a little about the exchange rate to ensure they have prepared enough currency for the trip, only carrying a little or shortening the estimated funds.

The current exchange rate of the Vietnamese Dong to some other currencies in the world is listed as follows:

The exchange rate is rounded to make it easy to remember, and the local people also prefer that level when counting to exchange foreign money into Vietnam Dong. Please check the correct exchange rate here. This rate applies to direct cash exchange at the banks and does not include exchange fees that may be available at certain banks.

Where to change your money into Dong?

In Vietnam, the government regulates the exchange of foreign currencies to be conducted only at licensed establishments.

At the same time, all trading activities in Vietnamese territory must be managed in Vietnam Dong.

Therefore, to avoid unintended troubles such as too low exchange rates, illegal exchange of foreign currencies of business establishments, high fees, and unreasonable fees, visitors should choose to go to banks or bank branches to exchange foreign money for Vietnam Dong.

It’s not too difficult to find a bank or bank branch in all cities of Vietnam.

Here are the good banks in Vietnam to exchange your money into VND:

• Vietnam Joint Stock Commercial Bank for Foreign Trade – Vietcombank;
• Vietnam Joint Stock Commercial Bank for Industry and Trade – Vietinbank;
• Vietnam Joint Stock Commercial Bank for Investment and Development – BIDV;
• Asia Commercial Joint Stock Bank – ACB.

However, you will not be able to find any banks operating on Saturdays and Sundays. Therefore, if your vacation falls on weekends, you have to prepare money in advance.

At Vietnam’s international airports, like Tan Son Nhat in Ho Chi Minh City, Noi Bai in Hanoi, and Da Nang Airport in Da Nang, you will see several bank branches that serve tourists’ money exchange demands.

Good advice is given that when you have yet to prepare the Vietnamese money earlier, you should convert your money into VND immediately before stepping out of the airport or using any services.

This action helps you avoid minor problems when your own currency is not accepted in Vietnam when you need to buy something immediately.

Existing denominations of Vietnam currency

Before 2003, only cotton-paper money in Vietnam was made, with a par value of 100 VND to 100,000 VND.

Since 2003, the government has released more polymer notes, zinc coins (metal coins), and cotton-paper money notes. At the same time, the face value of the currency has increased from 100 VND to 500,000 VND.

Vietnamese dong coins have five denominations, including 200VND, 500VND, 1000VND, 2000VND, and 5000VND.

However, coins quickly revealed their weaknesses, such as being heavy and hard to store, while automated trading machines using coins had yet to be widespread in Vietnam.

By 2011, the government decided to stop issuing coins even though it was proper to pay in the market.

Nowadays, Vietnamese money has cotton paper and polymer notes, the two types of banknotes circulated in Vietnam.

Now, we will check one-by-one types of Vietnamese dong notes.

1. Par value of 100 VND

This is the smallest denomination of the current Vietnamese currency. It is printed on dark brown cotton paper.

This denomination is now almost invisible in the market, except that some individuals want to use it as a souvenir because of its small value.

With 100 VND, the user definitely cannot buy anything.

2. Face value of 200 VND

This par value is the second smallest in the Vietnamese Dong system.
Printing on two types of materials are red-brown cotton notes and metal coins.

Sharing the same fate with the face value of 100 VND, the 200 VND is also very little in the market.

Only 200 VND is very little value to use in Vietnam.

3. Par value of 500 VND

It is printed on two types of material: red lotus cotton paper notes and metal coins.

Currently, cotton paper par value of 500 VND appears more often than its sister’s metal note in the market.

However, it’s difficult to buy something only for 500 VND. The 500 VND seems helpful in some shopping centers in Vietnam when they need to return the excess money to customers.

Of course, in small shops and because of the Vietnamese market culture, many people ignore the excess of 500 Dong because of its low value.

Tips to know the local habit: When you buy any items, and the excess money is under 500 VND, you should not wish to get an exchange and request for this quantity. It would be best if you ignored them. Having some of them nowadays is challenging because they have little value. Thus, sellers sometimes can give you a small candy instead of this excess money. Also, buyers should not think the salespeople are not faithful.

4. Face value of 1,000 VND

You can start buying a small piece of Vietnamese candy with 1,000 VND. This par value is made from two types of purple cotton paper and metal coins.

Like other denominated coins, a 1,000 VND coin is unsuitable for Vietnamese usage habits, which is very uncommon.

Although it’s still of minimal value, only equivalent to about 0.04 USD (4 US cents), you may ask the shop’s seller to return it to you.

That also means, in some situations, you can only buy goods when you have enough 1,000 VND. So, keep this note when you can! It is necessary in a few situations.

5. Par value of 2,000 VND

2,000 Dong appears on two kinds of material: dark brown cotton paper and metal coin.

In some parts of Vietnam, you can exchange a 2,000 Dong cotton banknote for mint-flavored gum or a small load of bare bread without anything else inside.

And, of course, there are not too many things that cost about 2,000 VND.

6. Par value of 5,000 VND

Since 2003, the Vietnamese government has issued this par value on dark blue cotton papers and metal coins.

Until now, the par value of 5,000 Dong has only been popular with notes made of cotton-paper material. This is also the biggest denomination printed on this material.

With 5,000 VND, you can buy a 500ml mineral water bottle, a pack of instant Vietnamese noodles, or 2 bananas.

However, there are still not too many options for 5,000 VND in the Vietnamese market.

Tip for tipping: When you want to tip a worker at a restaurant, hotel, or other place, 5,000 VND is the smallest quantity, which you should leave as a tip to show your respect. But, it is better to tip some short service or easy help from 10,000VND = 0,40 USD.

7. Par value of 10,000 VND

The smallest par value has been issued on polymer material, dark brown on a green-gold background.

This polymer note is small and much shorter than all the remaining polymer banknotes in the Vietnamese money system.

It’s easy to distinguish it from other polymer denominations. The converted value in Vietnam territory is about 0.40 USD for 10,000 VND.

If you want to buy something with 10,000 VND, you can think of a black coffee cup sold on the sidewalk.

Occasionally, you’ll find an egg sandwich or simple Vietnamese bread with pork that costs 10,000 VND = 0.40 $. A local beer can, or a 300ml coca bottle sold at a shop also costs around 10,000 VND.

8. Face value of 20,000 VND

It’s time you pay attention because this face value is easily confused with a note of 500,000 VND, which costs many times higher than 20,000 VND.
The value of 20,000 VND is established on dark blue polymer material, while the 500,000 VND note is dark blue.

Both have the same width of 65mm, and lengths are 136mm and 152mm, respectively.

Many Vietnamese people often confuse these two denominations. In particular, if you have to use money in dim lighting or in a hurry, you need to be careful because it’s a pity if you pay a beer costing 20,000 VND for 500,000 VND without returning the excess.

Of course, with two denominations, the number representing the value of each note is printed on both sides. So, you need to pay attention to these things. That is the only natural way to avoid confusion.

In most restaurants in Vietnam, it is hard to order a dish for 20,000 VND. But 20,000 VND can be a reasonable tipping for restaurant servers if you want to thank them.

9. Face value of 50,000 VND

50,000 Dong is a polymer coin with a purple-brown color, size 140mm x 65mm. The exchange is equivalent to 2 USD for 50,000 VND.

In Vietnam, it is feasible to have a relatively full lunch for 50,000 VND. It includes a wide range of options, such as popular rice dishes, pho, or noodles, and one small drink or water sold in small local eateries.

However, finding something on the menu that costs less than or equal to 50,000 VND, except for some local soft drinks or beer, will not be easy if you choose a standard tourist restaurant.

Of course, with 50,000 VND, you can have more options to go shopping, such as some pretty small souvenir products, funny cloth bags, souvenir T-shirts, and lots of Vietnamese fruits at a lower price, under 50,000 VND per 1kg.

The 50,000 dong note is rarely confused with other units. However, it is similar to the polymer banknote of 200,000 VND.

So, if you are still unfamiliar with using Vietnamese currency, please pay close attention to the number printed clearly on each note.

10. Face value of 100,000 VND

100,000 Dong is dark green and made from a high-strength polymer material.

Both sides of the banknote are printed in numbers and words quite clearly, with a par value of 100,000. Currently, the converted cost is about 100,000 VND ≈ 4 USD.

What can you buy in Vietnam with 100,000 VND? Although you can not get a sumptuous meal at the restaurant, many dishes have started appearing on the menu with a price equivalent to 100,000 VND for customers to choose from.

A moderate set at 100,000 Dong at fried chicken shops is not hard to find. 100,000 dong = 4.3 USD is also enough for visitors to experience 30 minutes of foot massage or enjoy shampoo and manicure service in Vietnam.

And if you feel the driver has served you all day, it is worth thanking him. The 100,000 VND tip is enough for him to understand that you are happy and grateful to him.

11. Face value of 200,000 VND

This is the second-largest face value in the Vietnamese dong system. This note is printed on durable polymer material with a red-brown color.
Some argue that it is relatively similar to the polymer banknote of 50,000 VND, which has a purple-brown color.

However, very few Vietnamese have encountered confusion between these two denominations. 200,000VND is equal to 8 USD.

200,000 dong starts enough for you to have a not-too-fussy meal at a few good standard restaurants.

When traveling by taxi, VND 200,000 is enough for a one-way street with a length of 11 km to 13 km.

And, this good quantity is to thank your guide after a day of his/her enthusiastic work.

12. Par value of 500,000 VND

The highest denomination in Vietnamese currency notes is 500,000 VND, printed on polymer in dark blue and measuring 152mm x 65mm.

Converting 500,000 Vietnamese Dong to USD equals 20.5 USD at the current exchange rate on February 27, 2024.

This banknote’s color is easily confused with much lower denominations: 20,000 VND. So, if you are still not good at using Vietnamese currency, you should pay extra attention when using two par values of 20,000 VND and 500,000 VND. It is better to keep each type of these notes in separate places.

High-denominated notes of 500,000 VND are often created for the convenience of storage in personal wallets or large payouts.

If you pay with big-denominated money for the hotel, dinner at a restaurant, or a local tour program, the recipient will feel satisfied.

However, it brings a lot of difficulties when a shopper wants to buy some daily necessities.

Trouble can occur when you forget you are going to the market or a small roadside shop to buy a bottle of mineral water with a 500,000-dong note. You should also not pay taxi drivers for short trips using this banknote.

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It is challenging to avoid embarrassment when tourists use a completely new currency for the first time.

You may always be surprised by the differences in Vietnamese currency in characteristics, denominations, and note values.

But, it is also certain that it will be one of the most exciting experiences with your trip to visit beautiful places in Vietnam.

If everything is ready, bring your backpack and enjoy your vacation in Vietnam.

Surely, you will become a millionaire in Vietnam. 🙂

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