The Vietnamese dong (VND) is the official currency of Vietnam and an essential part of the travel or business experience for anyone engaging with the Southeast Asian nation. Whether you’re planning a vacation, investing in foreign currencies, or sending remittances, understanding where to buy dong currency is critical. In this article, we’ll explore the various options for buying Vietnamese dong, how the process works, and what to watch out for.
What is the Vietnamese Dong?
Before diving into the buying process, let’s understand the currency itself. The Vietnamese dong is abbreviated as VND and is issued by the State Bank of Vietnam. As of the time of writing, 1 USD is equivalent to approximately 23,000 to 25,000 VND depending on market conditions.
The dong is known for its large numerical denominations, with notes ranging from 1,000 VND to 500,000 VND. Coins are no longer in circulation. For more historical and technical details, check the official Vietnamese dong Wikipedia page.
Why Would You Need Dong Currency?
There are several reasons someone might need to purchase VND:
- Travelers visiting Vietnam
- Expats relocating for work or retirement
- Investors interested in foreign currency speculation
- Importers or business owners dealing with Vietnamese companies
- Students or families supporting education expenses in Vietnam
Local Banks and Currency Exchange Offices
One of the most common and safe methods of buying dong currency is through your local bank or an authorized foreign exchange bureau.
Banks
Most major banks in countries like the US, Canada, UK, Australia, and others offer foreign exchange services. You can walk into your bank or use their online banking portal to order Vietnamese dong.
Pros:
- Secure and reliable
- Transparent exchange rates
- Option for online pre-order
Cons:
- Slightly higher exchange fees
- Not all banks carry VND regularly (you may have to wait a few days)
Currency Exchange Bureaus
You’ll find foreign exchange bureaus at international airports, in city centers, or near financial districts. These often provide quicker service.
Tips:
- Compare rates at different bureaus
- Watch for commission charges
Buying Dong Currency Online
Several online currency exchange platforms allow you to order Vietnamese dong and have it delivered to your address. These are especially helpful for travelers or those who want convenience without visiting a physical location.
Popular Online Providers:
- Travelex
- Wise (formerly TransferWise)
- XE
- OFX
- Revolut
How it works:
- Visit the platform’s website.
- Enter the amount of VND you need.
- Pay using your local currency via bank transfer or credit card.
- Receive the currency by mail or pick it up at a partner location.
Caution: Always ensure the platform is reputable and registered with appropriate financial authorities in your country.
Airport Currency Exchange – Convenience vs Cost
While airports offer quick access to foreign exchange services, they are known for less favorable rates and higher fees. If you must use airport exchange counters, limit it to a small amount needed for immediate expenses like taxis, food, or SIM cards.
Tip: Buy a small amount at the airport and exchange the rest within the city where rates are usually better.
ATMs in Vietnam – A Local Option
If you’re already in Vietnam or planning to arrive soon, you can withdraw dong from Vietnamese ATMs using your international debit or credit card.
Advantages:
- Convenient and instant
- Competitive exchange rates (better than airport kiosks)
Disadvantages:
- Foreign transaction fees from your bank
- ATM withdrawal fees
- Daily withdrawal limits
Popular Vietnamese banks where ATMs are widely available:
- Vietcombank
- BIDV
- Techcombank
- Agribank
Buying Vietnamese Dong for Investment
Some people buy dong as a currency investment, speculating that the dong may be revalued or appreciate in the future.
Important Consideration:
- The Vietnamese dong is not freely convertible in global forex markets.
- High risk: It is often subject to rumors and scams around revaluation.
- Purchase only from licensed dealers and avoid black market offers or speculative “dong investment programs.”
Note: As per Wikipedia, the dong has undergone significant devaluation over the decades due to inflation and economic reforms.
Travel Agencies and Tour Operators
In some regions, especially areas with high Vietnamese tourist traffic, travel agencies also offer currency exchange services. These businesses can provide competitive rates but are typically suitable for small amounts.
Example: Some agencies might include VND in a travel package or offer it as a value-added service.
Things to Keep in Mind While Buying Dong
Exchange Rates
Exchange rates fluctuate daily. Always check the mid-market rate on platforms like XE.com or OANDA.
Fees and Commissions
Ask about:
- Flat fees
- Percentage-based fees
- Hidden markups on the exchange rate
Counterfeit Currency
Unfortunately, fake Vietnamese dong notes do exist. If exchanging money in Vietnam:
- Use banks or reputable money changers.
- Avoid roadside vendors or unauthorized agents.
- Count the notes and check for watermarks or security strips.
Import Restrictions
Vietnam has laws regarding how much VND you can bring in or out of the country. According to the State Bank of Vietnam, travelers can only carry 15 million VND (approx. $600 USD) without declaring it.
Is It Better to Buy Dong Before Traveling?
This depends on your location and preferences:
- Before travel: Buy from a bank or online provider in your country for peace of mind.
- After arrival: Use ATMs or local exchange offices for better rates (just be cautious and check for authenticity).
Ideal Strategy:
- Carry a small amount of VND before departure.
- Use ATMs or exchange money in cities like Hanoi or Ho Chi Minh City.
Black Market vs Authorized Dealers
In Vietnam, the black market for currency exchange still exists in places like gold shops or informal money changers. While rates may seem attractive, these options are illegal and carry risks of scams, counterfeit currency, or legal issues.
Stick to authorized money changers and banks.
Summary and Final Tips
To recap, here are your best options for buying Vietnamese dong:
- Your local bank – safe, but slower and possibly higher fees.
- Currency exchange bureaus – convenient and competitive in urban areas.
- Online services – great for convenience if you plan ahead.
- Vietnamese ATMs – best exchange rates but watch fees.
- Avoid black market exchanges – unsafe and illegal.
Final Checklist:
- ✅ Compare exchange rates
- ✅ Understand all fees
- ✅ Avoid exchanging large amounts at the airport
- ✅ Verify authenticity of notes
- ✅ Stay within Vietnam’s currency regulations
Whether you’re heading to Vietnam for adventure, business, or personal reasons, knowing where to buy dong currency ensures a smoother and stress-free experience.