The currency of Vietnam is the Vietnamese Dong. Each country of the modern world has its own currency, which has a free circulation within the state. The currency of Vietnam is called Dong since 1946 and nowadays, due to the rapidly developing local economy, has a steady growth.
Currencies of different countries are interesting because they own their own history, development, material, manufacturing and denomination, despite the bind of most of them to the dollar, euro or financial unit of a neighboring state. The currency of Vietnam is called "Dong". The control of output and trends in the world market is carried out by the local Central Bank. The existence of money in its present form began in 1946. It is worth noting that during this time they undergone several structural changes, including the changed material from which they are made. With the development of tourist infrastructure in the Asian country, many travelers who are going to visit the state monuments, are asked the following pressing questions:
- What is a Vietnamese Dong.
- What are the conditions for carriage of currency at the border.
- Is there a bank card in the country.
- How much money is allowed to import and export.
About this and other important nuances associated with the local currency, and will be discussed in the article.
History of origin
The name of the currency is translated from the local adverbs like silver or copper. This is due to several interesting historical factors. In the period when the country was treated to the French Indochina, there were pyrotechnics in the course. Residents called them dong. Upon obtaining sovereignty, the domestic currency of Vietnam's own production became known as "Dong", so as not to depart from the traditional "name" of the payment instrument. At present, sixteen kinds of banknotes are in circulation on the territory of the Asian state. At the same time, only the smallest face value of the banknotes (10, 5, 2, 1) has no image of the legendary leader Ho Chi Minh. Starting with 20 dongs, a portrait of a Vietnamese politician is on every paper banknote. The issue of a payment instrument changed several times, primarily due to the wear and tear. The current set of denominations has become available since 1985. In 2006, the release received more qualitative material: the currency of Vietnam has found additional protective properties and the basis of a polymeric nature. At the moment, it is the finest plastic, without a cotton base.
Main distinctive features and designations
In addition to Ho Chi Minh's image, you can see the state coat of arms of the country and the most famous sights on the banknotes. The main colors of the money are violet, red and purple shades. It has a Vietnamese Dong in the circulation of a coin (5000, 2000, 1000, 500, 200), but at the moment they are gradually withdrawn from free access. In addition to local cash, you can pay here the currency of the EU, China, Japan and the United States. Moreover, the US dollar does not even need to be changed. A tourist will easily get a deposit in Dong, provided that the bills will be of good quality. On the World Exchange, Vietnamese money is denoted by the abbreviation VND.
How and where to exchange
To transfer your own funds from the available currency for the necessary money can be in the traditional places that every tourist knows:
- Airport. It is worth noting that local points offer an acceptable rate to almost every foreign equivalent.
- Hotel. Here the exchange is worse. It is better to go deep into the country, the city, the settlement and find a more suitable option.
- Misc. These include classical places: bank branches, postal services, large shopping malls, travel agencies.
Of course, a safe monetary unit of Vietnam is only in official institutions. Therefore, contacting institutions that raise doubts about their activities is not strictly recommended. The best deals in large metropolitan areas can be seen in jewelry stores and city banks. When exchanging it is necessary to pay attention to the presence of zeros on the bank note, because because of high denomination and uniform color scheme, you can become a victim of deception, deliberate or accidental.
Do plastic cards in Vietnam?
Bank type cards are accepted in the country, but in most cases they must be issued by a worldwide company (Visa, Master Card). Restaurant, shopping center, hotel - everywhere you can count on a cashless payment. But it should be remembered that all institutions that pay for this type are primarily engaged in the maintenance of tourists. Local small institutions will need a currency in Vietnam. At the same time, the price for residents and guests of the cities is practically the same.
There are large settlements and ATMs, but the main disadvantage of this service is a huge commission. Given the overestimated rate, it is better to use the official exchange office and spend money to your satisfaction. Another important point is the mandatory writing of a statement in the Russian Bank about the possibility of using the card, otherwise it will be blocked at the first attempt to withdraw cash. This is done for customer safety with the increased activity of fraudsters in the Asian state. In addition, before traveling, it is better to explore all potential exchange rates. The Vietnamese Dong has a very high denomination to treat cash transfers without considering security measures.
Which currency is better to use
The most common types of funds on the territory of the Asian state are, by right, the euro, the dollar, the yuan, the baht and the yen. The most prestigious and attractive of this list are American payment units. They can be paid on a large market or in trading networks. At the same time for the surrender only the currency of Vietnam is issued. Do not overlook an alternative option and taxi drivers who accept as payment virtually any money from the above list.
An interesting fact is that any local resident can call himself a millionaire due to the high denomination of banknotes. To date, the Vietnamese Dong to the dollar is approximately like this: 21,900 to 1. For one euro the tourist will receive more than 24 and a half thousand local money, and for the Russian ruble - 340 VND. In this case, the rate is regularly changed by the Central Bank of the country (monthly), and at different exchange points may differ from the officially declared indicator.