How to Exchange Money & Use Currency in Hanoi

 

Hello, travelers! 😊
If you’re planning a trip to Hanoi, it’s essential to understand how to exchange money and use Vietnamese currency (VND) effectively. Since Vietnam primarily operates on cash, knowing where to exchange money and how to avoid common mistakes can make your trip much smoother. In this guide, I’ll share the best ways to exchange currency safely and use money wisely while exploring Hanoi!

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1. Understanding Vietnamese Currency (VND)

The official currency of Vietnam is the Vietnamese đồng (VND, ₫).
Since VND has many zeros, it can be confusing at first, but don’t worry! With a little practice, you’ll get used to it quickly.

✔ Common Banknotes:

• 500,000 VND (~$20 USD)
• 200,000 VND (~$8 USD)
• 100,000 VND (~$4 USD)
• 50,000 VND (~$2 USD)
• 20,000 VND (~$0.80 USD)
• 10,000 VND (~$0.40 USD)
• Smaller bills (5,000 / 2,000 / 1,000 VND) – rarely used

💡 TIP:

• Be careful! 20,000 VND (blue) and 500,000 VND (light blue) look similar and can easily be mistaken for each other.
• Most transactions in Vietnam are done in cash, so always carry smaller bills for daily expenses.

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2. Where to Exchange Money in Hanoi

There are several ways to exchange money in Hanoi, but some options offer better rates and safety than others. Here’s what you need to know!

① Exchange in Your Home Country (Before Arrival)

📍 Best places: Banks & exchange counters at the airport

• If you prefer to exchange money before your trip, major banks usually offer decent exchange rates with lower risks.
• However, Vietnamese đồng (VND) is not always available at foreign banks, so you might need to exchange your money to USD first and then convert to VND upon arrival.

💡 TIP:

• Exchanging USD to VND in Hanoi usually gives a better exchange rate than converting directly from your home currency.

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② Exchange at Hanoi Banks & Money Exchange Shops

📍 Best places:
✔ Hà Trung Street – The most popular exchange street in Hanoi
✔ Local banks (VCB, BIDV, Techcombank, etc.)
✔ Hotel front desks (lower rates, but convenient)

📌 Recommended Exchange Locations:

• Hà Trung Street (Hanoi’s Money Exchange Street) – This street has reputable exchange shops offering better rates than banks.
• Gold & Jewelry Shops – Many gold shops in the Old Quarter also offer currency exchange with higher rates than banks.

💡 TIP:

• Avoid exchanging money at the airport or hotels as they usually have lower rates.
• Some banks require your passport for currency exchange, so keep it handy.

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3. Can You Use Credit Cards in Hanoi?

✅ Where Credit Cards Are Accepted:

• Large shopping malls, hotels, and upscale restaurants accept Visa, Mastercard, and UnionPay.
• However, many small restaurants, local markets, and street vendors only accept cash.

💡 TIP:

• Cash is preferred for small purchases, taxis, and food stalls.
• If you pay by card, choose to pay in VND instead of USD or your home currency to avoid unfavorable exchange rates.

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4. Tips for Using Cash in Vietnam

✔ Using Cash for Transportation

• Many taxi drivers don’t have small change, so try to carry small bills (10,000 - 50,000 VND).
• Grab (the ride-hailing app) allows credit card payments, which can be more convenient.

✔ Paying at Restaurants & Street Food Stalls

• Many street vendors only accept cash, so carry enough for food and shopping.
• Prepare small bills (10,000 - 50,000 VND) to make transactions smoother.

✔ Keeping Your Money Safe

• Do not carry all your cash in one place—split it between your wallet, hotel safe, and a backup spot.
• Always count your change carefully after making a purchase to avoid being shortchanged.

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5. Important Warnings & Scams to Avoid

❌ Beware of Fake Money

• Fake VND bills exist, so when exchanging money, check the notes carefully.
• The 20,000 VND and 500,000 VND notes have a similar color, so double-check your change!

❌ Scams with Change

• Some vendors may give incorrect change on purpose, especially to tourists unfamiliar with the currency.
• To avoid this, try to use exact amounts when possible.

❌ Avoid Street Money Exchange

• Exchanging money on the street can be risky, as you might receive fake bills or get a bad rate.
• Always exchange at official money exchange shops or banks.

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Final Thoughts

If you’re traveling to Hanoi, understanding how to exchange money and use Vietnamese currency will help you save money and avoid potential scams. Follow these tips to get the best exchange rates and use your money wisely during your trip!

Do you have any other money-related travel tips or questions? Let me know in the comments! 😊
Have a great time in Hanoi and happy travels! ✈️💕