The ₹180,000 That’s Actually ₹1,800 – Amit exchanges ₹50,000 at Hanoi airport, receives a thick stack of Vietnamese Dong notes. The cashier counts: “2,000,000 dong total.”
Amit’s eyes widen. Two million! He’s suddenly a millionaire! Sort of.
Walking to his taxi, reality hits. The meter shows “350” after a 20-minute ride. Driver says: “350,000 dong please.”
Amit panics. Three hundred fifty thousand? That’s almost 20% of his “two million!” Is this normal? Is he being scammed?
He pays, confused and worried. At his hotel, the receptionist laughs gently: “No sir, taxi fare is normal. The Vietnamese Dong has many zeros. 350,000 VND is only about ₹1,260. Your 2,000,000 VND is ₹7,200—not ₹72 lakhs!”
This confusion happens to every first-time Indian visitor to Vietnam. Those zeros, those similar-looking polymer notes, that “million dong” psychological effect—all conspire to create anxiety around currency exchange in Vietnam.
This comprehensive guide explains everything Indians need to know: understanding Vietnamese Dong denominations, where gold shops offer better rates than banks, recognising polymer note tricks, Ha Trung Street in Hanoi (the secret exchange hub), and how to save ₹3,000-6,000 on every Vietnam trip through smart currency decisions.
Official currency: Vietnamese Dong (VND or ₫)
Exchange rate (November 2025):
The zero reality: Vietnam has one of the world’s lowest-valued currencies. As of 2025, 1 USD is worth about 25,000 VND, meaning you will often deal with large numbers like 100,000 VND or even 500,000 VND.
Polymer notes (waterproof, long-lasting):
Paper notes (older, less common):
No coins: Vietnamese currency has no coins in circulation anymore. Everything uses notes.
Quick formula for Indians:
Or remove three zeros and divide by 3:
Easiest method: Use the XE Currency app on your phone. Type VND amount, instantly see rupees.
To calibrate your understanding of currency exchange in Vietnam:
Gold shops often offer the best exchange rates, especially in cities like Hanoi, Ho Chi Minh City, or Da Nang. They usually don’t charge a fee, and the process is quick.
Why gold shops?
The catch: Not all gold shops are licensed, and some may not give you a receipt. This can be a problem if you plan to exchange leftover VND later.
Advantages:
Disadvantages:
Airport currency booths are convenient and work quickly, but generally offer worse rates than any exchange you’ll find in the city centre. If possible, you should refrain from exchanging any money at the airport. If you must, though, just exchange a little bit.
How much worse?
On ₹50,000 exchange: Lose ₹3,000 at the airport vs city!
Hotel front desks offer exchange as a convenience:
In Hanoi, Ha Trung is a street known for money exchange. Gold Shops in Hanoi are on Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi, and on Hang Bac Street.
Top recommended shops:
Quoc Trinh Gold Shop
Other Ha Trung Street shops:
Vang Hoang Tin Gold Shop
In Ho Chi Minh City, you can visit shops near Ben Thanh Market.
Kim Mai Gold Shop
Minh Thu Currency Exchange
Saigon Jewellery Centre
Ha Tam Gold Store
Da Nang has fewer dedicated gold exchange shops. Best options:
Vietinbank
Address: 25 Ly Thuong Kiet, Hoan Kiem District, Hanoi (Near Vietnamese Women’s Museum). Working Hours: 8 am to 5 pm from Monday to Friday. Vietinbank staff are known for their politeness and professionalism
Vietcombank
Address: 110 Cau Go, Hoan Kiem District, Hanoi (Beside Dong Kinh Nghia Thuc Square). Working Hours: 8 am to 5 pm from Monday to Friday. Vietcombank, known for its clean and spacious environment, is a popular choice
Techcombank
BIDV Bank
Vietcombank
Vietcombank is one of the most well-known and trusted spots for currency exchange in Ho Chi Minh City, especially if you want something reliable, official, and backed by a reputable name. It’s not necessarily the fastest route to Vietnamese Dong — you’ll need your passport, and there might be a bit of paperwork
Polymer money notes stick: polymer is made of long-lasting polymer, not paper. Therefore, the polymer notes can stick with each other, which can make you overpay for your goods. Check your polymer notes carefully when you pay for something.
What happens: You pull out one 200,000 VND note, but two are stuck together. You hand over 400,000 VND thinking it’s 200,000.
Prevention:
Easy to mix up:
Prevention:
Avoid paying high denominations – 500,000VND: Local stores or many street vendors in Vietnam rarely have enough change money to return the excess money for you when you use 500,000VND to pay.
Smart strategy:
Vietnamese bank fee: 55,000 VND (₹200) per withdrawal (most banks)
Your Indian bank fees:
Zero/Low markup cards:
Standard cards (avoid for ATM):
Withdraw maximum once:
Best ATMs:
Option A: Typical Tourist (No Research)
Total losses: ₹7,280
Option B: Smart Tourist (This Guide)
Savings: ₹6,580!
That’s 15-20 excellent Vietnamese meals or 3 Ha Long Bay day tours saved!
USD advantages:
INR advantages:
Recommendation for Indians:
Vietnam law: Amounts exceeding VND 15,000,000 must be declared on arrival, and amounts exceeding USD 5,000 or equivalent in other currencies must be declared as well.
Indian RBI law: Can carry up to ₹25,000 cash abroad without declaration
Smart approach:
Problem: 5-7% worse rates
Fix: Exchange only ₹5,000-10,000 for immediate needs
Problem: Even gold shops vary slightly
Fix: Walk Ha Trung Street, check 3-4 shops, takes 15 minutes, save ₹500-1,000
Problem: Some gold shops negotiate, especially for $500+ exchanges
Fix: Ask, “Is this your best rate for $500?” Sometimes get 0.5% better
Problem: Street vendors can’t change them
Fix: Break immediately at the convenience store
Problem: Overpay 2x-3x
Fix: Fan notes, count carefully, watch vendor count
Exchange in Vietnam for better rates. Indian authorized dealers offer 280-290 VND per rupee. Vietnam gold shops offer 305-310 VND per rupee. That’s 5-7% difference. On ₹50,000, save ₹2,500-3,500 by exchanging in Vietnam.
Generally yes, especially well-known shops on Ha Trung Street Hanoi or Kim Mai in Ho Chi Minh City. Thousands of tourists use them daily without issues. However, technically unlicensed exchanges are illegal. Choose busy, reputable shops locals use. Count money carefully before leaving.
Exchange ₹5,000-10,000 at airport for immediate expenses (taxi, SIM, first meal). Next day, exchange bulk (₹30,000-40,000) at city gold shop. Keeps airport losses minimal whilst ensuring you have enough cash. Vietnam is cash-heavy society—cards not accepted everywhere.
Use money belt or hidden pouch for large amounts (1,000,000+ VND). Daily wallet should have 300,000-500,000 VND only. Separate denominations in different pockets (prevents showing large amounts publicly). Keep 500,000 notes separate from smaller notes to avoid confusion.
Cash is still the primary payment method in many small shops, markets, and restaurants, especially in rural areas. Cards accepted at big hotels, supermarkets, shopping malls, but don’t count on it for street food or markets. Carry cash for 70% of expenses, card for hotels/tours/malls.
Always fan out notes before counting and paying. Separate each note individually. Count twice. Watch vendor count in your presence. If you think you paid double, immediately point out and recount together. This happens commonly—vendors understand and will return excess.
Exchange rates fluctuate daily. Rates mentioned reflect November 2025 approximations. Gold shop locations and operating hours subject to change. Unlicensed currency exchange technically illegal in Vietnam though widely practiced. Always count money carefully and keep receipts. Individual experiences may vary. This guide provides general information, not financial or legal advice.
Eccentric Blogger, Traveler and Consultant.
