All You Need to Know About Money and Currency in Vietnam (2024)

FAQs

Is $100 a lot of money in Vietnam? ›

At the moment, a US$100 roughly equals VND 2,485,000. Most touristy places provide foreign exchange services, such as Hanoi, Da Nang, Ho Chi Minh City, Phu Quoc, Nha Trang, Hoi An, etc.

Vietnamese Dong or US Dollar, which is the best currency to use in Vietnam? Most payments are made with Vietnamese Dong, but US dollars can be directly used for some hotels, restaurants, tours, or other services. You may see the prices for food, drinks, and souvenirs in Ho Chi Minh City's airport are all in US dollars.

Although the official currency is the Vietnam Dong (VND), many major stores and hotels in Vietnam also accept the US dollar. With a few exceptions, the Euro is not accepted anywhere. When you travel to Vietnam, it is handy if you bring some dollars.

Lawfully and legally speaking, under the provisions of Article 2 of Circular 15/2011/TT-NHNN: If you bring over $5,000 US Dollars, other foreign currencies of the same value (or 15,000,000 Vietnamese Dong, you're going to have to declare it at customs when you get here.

In short, when traveling to Vietnam, you should carry cash and VISA cards, this's the best choice. Vietnam Dong and USD are preferred to use in Vietnam. And, it is very easy to change USD into Dong at the banks in Vietnam.

The cost of living in Vietnam

Vietnam is well-known for offering a high standard of living at a low price. According to 2022 data, the cost of living in Vietnam is around 42.8% lower than in the United Kingdom and 63.5% lower than in the United States.

The price is 0.38 USD. The average price for all countries is 0.94 USD. The database includes 91 countries.

Tipping isn't mandatory or customary in Vietnam, but it is always appreciated. If you're happy with the services provided by waiters, drivers and other service workers, leaving a small tip is a good way to show your appreciation.

How much cash should I bring to Vietnam? ›

For a more comfortable backpacker experience in Vietnam, it's best to budget around $50 per day. This way, you'll have more money to spend on things like food, drinks, activities and hotel rooms. For a comfortable mid-range experience in Vietnam, it's best to budget $60 to $100 per day for your entire costs.

You can put some small notes in a separate pocket or wallet which is easily accessible. VND 100,000 notes, VND 200,000 notes, VND 500,000 notes should be kept in a separate pocket or wallet. 8. Carry small bills and only the cash you need for the day.

While cash is used for small purchases and street vendors in Vietnam, most establishments accept payments from major credit card providers such as Visa. Hotels, tour operators, boutiques, restaurants, grocery stores, and spas all generally accept international debit and credit cards.

CURRENCY RESTRICTIONS FOR ENTRY: None. However, Vietnamese Dong in excess of VND 150,000,000 or foreign currency in excess of 5,000 U.S. dollars or equivalent must be declared.

It depends on what kind of travelling you like to do; you will spend from just 600,000VND (~30 USD) for local style to over 1,400,000VND (~70USD) for luxury travel for 2 of you. It means that you should take 8,400,000VND (~420USD) to 19,600,000VND (~980USD) for spending during 2 weeks in Vietnam for food and drinks.

Declaration forms are only to make sure you're not importing goods without paying a tariff. You must declare cash in excess of $3,000 or the equivalent. You can also import 200 cigarettes, 2 liters of alcohol, and perfume for personal use.

Can I withdraw USD in Vietnam? ›

– only Vietnamese Dong. According to Vietnamese law, ATMs are only allowed to issue Vietnamese Dong (VND). Whether your account is originally in Vietnamese Dong, Euro, Dollar, Yen, Australian Dollar or other currencies, you can only withdraw Vietnamese Dong banknotes.

Drinking tap water generally isn't recommended in Vietnam. Water contaminated with pathogenic organisms is a major source of sickness and can lead to traveller's experiencing diarrhoea, gastroenteritis, typhoid, cholera, giardia, dysentery and hepatitis A.

A monthly budget of around $4,000 provides for top-end luxury, including a large, furnished home with a view of a lake or park, eating at 5-star restaurants, and taking frequent cruises and sightseeing trips throughout Vietnam.

Ideas for Gift Giving in Vietnam

If it is for children, chocolate, candies, toys, or lucky money are the best. If you visit someone's house, bring along fruits, liquids, or a box of confectionery. For charitable organizations, it is better to donate clothes, books, food, and other necessities.

Vietnamese Food Is Inexpensive by Nature

The recipes, on the other hand, have often been passed down from previous generations who lived a simple life, relying heavily on locally sourced ingredients you'll find on pretty much any street market at prices that truly amaze.

In Vietnam, a 50m2 downtown house costs at least around $500,000, sometimes even higher. However, the average income of Vietnamese is just over $3,000 a year. Thus, it will take us more than 160 years-worth of income to purchase a house.

According to statistics, more than 50% of Vietnamese people speak English. This percentage is much higher if we talk about the most tourist places.

Enjoy more audio and podcasts on iOS or Android. Indeed, the Big Mac's birthplace is one of the priciest places to buy it, according to our comparison of over 70 countries around the world (see chart). In Vietnam, for example, the burger costs 69,000 dong.

Body massage price

The price range for a full body massage in Hanoi can be between $20(VND500,000) to as high as $80 (VND1,850,000).

Do I need to bring toilet paper to Vietnam? ›

Bring enough for your stay. Toilet paper – It may be beneficial to keep toilet paper with you while traveling, especially on long bus rides. Most hotels, hostels and restaurants in the city have conventional toilets but many bus stop bathrooms have squatting-style toilets without toilet paper.

Credit cards are widely accepted but, in rural areas particularly, you should carry cash as a back-up. It may be difficult to cash travellers' cheques.

Proper Eating and Drinking Etiquette

Oldest Eats First: Don't eat until the oldest person at the table begins eating. Clean Plate: Make sure to eat all the food you are given, this is seen as a compliment. It is offensive to leave food on a plate.

Passengers arriving in Vietnam are allowed to freely carry a second mobile phone for personal use. They, however, must pay a tax if it is worth more than VND10 million ($429).

Three Weeks

This route cuts down on travel costs as the only expense there would be renting a motorbike, which is quite easy to do in Hanoi Old Quarter or Pham Ngu Lao in Ho Chi Minh. You shouldn't spend more than $4-$6 per day. Three weeks could be done as cheaply as $800, but more realistically aim for $1,500.

You can easily travel around Vietnam with either a backpack or a suitcase and both are suitable. However, You may find that some footpaths can become quite obstructed with scooters and street food vendors so if you plan on taking your bags far, then a rucksack would be best.

Yes, you'll be able to use your mobile phone in most urban areas of Vietnam, although remote and mountainous areas may have limited network coverage. Ensure you have global roaming activated with your mobile carrier before you leave home if you wish to use your mobile while in Vietnam.

U.S. Banks & Local Correspondent Banks

There are five U.S. banks and financial institutions operating in Vietnam. Citibank and Far East National Bank have branches, Wells Fargo and Visa International have representative offices, and JP Morgan Chase has both a branch and a representative office.

How Much Should You Tip in Restaurants in Vietnam? You should leave a tip of around 10%. In some high-end restaurants, you might notice that there's been an extra charge added to your bill. This isn't a tip, and the people serving you won't receive any of it.

If you are on a domestic flight in the US, there is no limit to the amount of cash or monetary instruments that you can carry. However, the TSA (Transportation Security Administration) security officers at the passenger screening area may ask a passenger who is carrying a large sum of cash to account for the money.

Can I fly with $1000 cash? ›

You can fly with any amount of cash. No law prohibits you from bringing any amount of money on a flight. Likewise, TSA has no rules that limit how much money you can bring through security.

You may bring large sums of money with you in the form of cash, money order, or traveler's checks. There is no maximum limit, however, any amount exceeding $10,000 USD must be declared upon arrival on both the Form 6059B and FinCEN 105. All forms must be filled in completely and truthfully.

Planning Your Trip to Vietnam

Travelers with limited time can rejoice that Vietnam is small enough to experience the highlights in just a few days. That said, the ideal timeframe is about 10 days, as it takes at least this long to immerse yourself in Vietnam's rich culture.

Vietnam is famous for natural landscapes like Ha Long Bay, refreshing Vietnamese cuisine, and its interesting colonial history. As a cultural South East Asian country, Vietnam is known for its thousands-year-old history and heritage.

When it comes to affordability, both Thailand and Vietnam are relatively inexpensive compared to many other destinations. However, in general, Vietnam is considered to be a more budget-friendly option than Thailand. Accommodations, food, and transportation are all cheaper in Vietnam, especially in rural areas.

In particular, there has been a steady increase in Vietnamese high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs). The benchmark for HNIs is accumulating a net worth of over USD 1 million. In contrast, the benchmark for UHNIs is having a net worth of over USD 30 million.

For a more comfortable backpacker experience in Vietnam, it's best to budget around $50 per day. This way, you'll have more money to spend on things like food, drinks, activities and hotel rooms. For a comfortable mid-range experience in Vietnam, it's best to budget $60 to $100 per day for your entire costs.

According to the latest statistics (2022), the median monthly salary in Vietnam is 6.5 million VND per month (source) or approximately $275 USD/month.

Tipping isn't mandatory or customary in Vietnam, but it is always appreciated. If you're happy with the services provided by waiters, drivers and other service workers, leaving a small tip is a good way to show your appreciation.

How much money do I need for 2 weeks in Vietnam? ›

💰 Trip to Vietnam Cost: 2023 Travel Expense Breakdown + Tips. A country with stunning mountain ranges and rice paddies, Vietnam is an affordable country that can be visited with a budget of $30 to $100 USD a day. My almost two-week trip to Vietnam cost a total of $1,251 USD.

For a more comfortable backpacker experience in Vietnam, it's best to budget around $50 per day. This way, you'll have more money to spend on things like food, drinks, activities and hotel rooms. For a comfortable mid-range experience in Vietnam, it's best to budget $60 to $100 per day for your entire costs.

Vietnamese visit visas are issued for a limited duration, printed on the visa, and on the basis that visitors must leave on or before the date of expiry. Those who come to Vietnam to work are required to apply for a work visa/ permit. You should check the visa validity and conditions carefully.