Vietnam used to be a very peaceful country until the unfortunate bloody Vietnam War befell it. Vietnam War was one of the worse wars in the history of the world. The drop in currency is one of the major effects of this Vietnam War. Since Vietnam came to the end of this bloody war, there has been serious economic effect to Vietnam currency against other countries currency such as the dollar. As a result, Vietnam is still unable to stabilize its own currency to date. Vietnam Dong, abbreviated as VND is till the main currency used in the country and compared to the Dollar, one US Dollar is equivalent to 19,607 Vietnam Dong.
The currency tips for your trip to Vietnam
1. Similarity of the notes
There are a couple of Vietnam currency notes that are quite confusing new Vietnam travelers. For example, 500,000 VND and 20,000 VND; 200,000 VND and 10,000 VND are quite similar. However, always recall that the sizes always vary. The highest denomination is always larger in size than the small denomination. Thus, expect 500,000 VND to be larger than 200,000 VND. So, always keep check on the size and numbers of notes to avoid unnecessary losing your money.
2. Enquire if other currencies are accepted
This is a very common concern of most travelers to Vietnam. Is there any other currency preferred to Vietnam currency? The answer is yes! Although Dong (VND) is the official currency used to pay for several purchases, the foreigners can often be allowed to transact using the Euro or US Dollar. However, most vendors on the streets would rather advise you to exchange to local currency.
3. The Vietnam travelers’ cheque
This brings a very important point to put clear. Travelers’ cheque is no longer accepted to Vietnam currency. Instead, travelers in Vietnam are advised to rather use US Dollars, Euro, Au Dollars or GB Pound and exchange it to the local currency upon arrival in Vietnam. So, completely avoid carrying the travelers’ cheque on your journey to Vietnam as this will be a complete mess on your side.
4. Bargain and Bargain in Vietnam
One of the most important advise to travelers to Vietnam, especially when you go for shopping; bargain and bargain harder. Bargaining means that you should always propose a lower price than that of the seller. This will help you avoid ’’foreigner price” because these vendors can identify foreigners and try to make extra money from them if they don’t bargain. If possible, always go shopping with a Vietnamese to assist you in effecting your bargain. However, if your proposed discount is accepted by the vendor and they are willing to sell it at your proposed budget, you shall have saved some extra money.
5. The use of Comma and Dot to Vietnam currency
In Vietnam currency, there is the opposite use of Comma and Dot. A Comma is used for decimal numbers of the currency while the Dot is used to separate thousand units of the Vietnam currency. So, be careful not to confuse a commodity of 200.000 VND to 200,000 VND
6. The use of letter “K”
If you meet the use of letter “K” after a figure in the price tag, like is done in many shops in Vietnam, remember that the letter “K” simply represent a thousand. So, just add three zeros to that letter “K” for example, 10K simply mean 10,000 VND.