Vietnamese Money

• Currency: Đông (VND). Notes are in denominations of VND500,000, 100,000, 50,000, 20,000, 10,000, 5000, 2000, 1000, 500, 200 and 100. Coins are in denominations of VND5000, 2000, 1000, 500 and 200.  (Coins are used also: 5000, 2000, 1000, 500, 200)
• Currency exchange: The US Dollar is the most favoured foreign currency. Australian, British, Japanese, Singaporean and Thai currency, as well as the Euro, can usually be changed in the larger cities; great difficulty may be encountered in trying to exchange any other currencies. There is a charge for changing money in banks.
• Credit & debit cards: An increasing number of outlets accept MasterCard and Visa. However, outside main centres, it is wise to carry cash. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.
• Travellers cheques: These are widely accepted in hotels and banks. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars or Euros.
• Currency restrictions: Import and export of local currency is prohibited. Import and export of foreign currency over US$3000 is subject to declaration. Proof of all expenses should be kept.
• Banking hours: Mon-Fri 0800-1630, Sat 0800-1200.

Money Advice

1. Travellers staying in budget accommodation and eating in small cafes should be able to get by on around US$20 to US$25 per day, plus long-distance transport costs. Those wanting to stay in mid-range hotels, eat out at moderate restaurants, charter occasional taxis and enjoy the nightlife should budget on around US$65 a day.
2. Until recently, many upmarket hotels insisted that you pay in US dollars, but now all businesses (except Vietnam Airlines) must accept payment in dong. In practice, many still display their prices in US dollars. It"s advisable to bring traveler"s checks in US dollars as well as a little US currency.
3. US dollars and travellers cheques are your best bet. There are four ways to exchange currency: at a bank; through authorised exchange bureaus; at hotel reception desks; and on the black market. The best rates are offered by the banks, but the exchange bureaus are generally more conveniently located and have longer opening hours. The black market rate is worse than the legal exchange rate, so if you"re offered better rates than a bank it"s bound to be some sort of scam. Visa, MasterCard, American Express and JCB credit cards are accepted in the major cities and towns popular with tourists.
4. It"s virtually impossible to exchange travellers cheques outside the major cities and tourist areas. Visitors heading off the beaten track will either need to stock up on dong, or conduct a private cash transaction on the black market. It"s a good idea to bring a small calculator with you for currency conversions, unless you"re the kind of person who can divide or multiply by large numbers in your head.
5. Government-run hotels and tourist restaurants usually add a 5% service charge to bills so there"s no need to tip (although staff may not get any of it). Leaving a small tip in other restaurants will be greatly appreciated by the staff. You should consider tipping hired drivers and guides, and it"s polite to leave a small donation at the end of a visit to a pagoda. Bargaining is commonplace but should be engaged in with a smile and considered a form of social discourse rather than a matter of life and death.