You land in Hanoi or Ho Chi Minh City, and the first thing you see at the airport is a sea of zeros. The Vietnamese Dong (VND) is famous for its massive denominations. It’s kinda overwhelming. Naturally, you look at the crisp US dollars in your wallet and wonder if you can just skip the math and pay with those.
Honestly? It depends. While the US dollar is the "gold standard" for international backup, using US currency in Vietnam isn't as straightforward as it used to be. The government has tightened things up significantly.
If you try to pay for a bowl of Phở on the street with a $5 bill, you'll likely get a confused look or a very bad "improvised" exchange rate.
The Law vs. The Reality
Technically, Vietnamese law (specifically Circular 32/2013/TT-NHNN and updated decrees like Decree 340/2025/ND-CP) says that all transactions within the country must be made in Vietnamese Dong. Shops aren't even supposed to list prices in USD.
But we live in the real world. Many high-end hotels, tour operators, and some jewelry shops still think in dollars. You’ll often see tour prices quoted in USD, even if they expect the final payment in VND.
Here is the kicker: as of early 2026, the State Bank of Vietnam has doubled down on penalties for unauthorized foreign currency trading. If you’re caught "exchanging" money at a random clothing shop, both you and the shop owner could face a fine. For small amounts under $1,000, you might just get a warning, but for larger sums, fines now range from 10 million to 20 million VND. That’s a pricey mistake.
Why You Shouldn't Just Spend Your Dollars
Even when a shop does accept your greenbacks, you’re usually losing money. Think of it this way: the shopkeeper isn't a bank. They have to go through the hassle of exchanging that money later. To cover their time and the risk of the rate shifting, they’ll give you a "convenience rate."
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- Bank Rate: $1 = 26,200 VND (illustrative for early 2026)
- Street Rate: $1 = 24,000 VND
On a $100 dinner, you just "tipped" the restaurant $8 without meaning to. Basically, you’re paying a "tourist tax" for not having the local currency.
Where to Actually Get Your Money Changed
If you brought a stack of USD, don't just walk into the first place with a "Money Exchange" sign.
- Banks (The Safest Bet): Places like Vietcombank, VietinBank, or BIDV are the most reliable. You’ll need your passport. It takes about 10–15 minutes of paperwork, but you get the official rate.
- Gold and Jewelry Shops: This is the "open secret" of Vietnam. In Hanoi, everyone goes to Ha Trung Street. In Saigon, it’s the shops around Ben Thanh Market, like Ha Tam Jewelry. These places often offer slightly better rates than banks and don't require forms. Just keep in mind that since February 2026, the government has been much stricter about monitoring these spots.
- The Airport: Honestly, airport rates aren't the worst in the world here, but they aren't the best. Change $50 to get a taxi or a SIM card, then find a bank in the city.
The "Pristine Note" Rule
This is huge. If your $20 bill has a tiny tear, a folded corner, or someone’s phone number scribbled in the margin, no one will take it. Not the bank, not the gold shop, nobody.
Vietnamese exchange agents are incredibly picky. They want bills that look like they just came off the printing press. If you’re bringing USD from home, keep them in a flat envelope. Don't fold them into your pocket.
Plastic vs. Paper
Is cash still king? Yeah, mostly. But things are shifting. You’ve probably heard of Apple Pay or Google Pay—they are becoming much more common in major cities.
- ATMs: They are everywhere. Most will charge a fee (usually 20,000 to 50,000 VND), and your home bank might charge one too.
- Credit Cards: Fine for malls and hotels. Most small cafes and family-run shops will charge a 3% surcharge to cover the processing fee.
Actionable Tips for Your Trip
Don't get caught out. Managing US currency in Vietnam is about balance. You want some USD for emergencies or big-ticket items, but you live on VND.
- Bring $100 bills: You get a better exchange rate for $100 bills than for $1s, $5s, or $20s. It’s a weird quirk of the local market, but it’s true.
- Check the Zeros: The 20,000 VND note and the 500,000 VND note are both blue. In the dark, after a few Bia Hois, it is very easy to mix them up. Take a second to look at the numbers.
- Download a Converter: Use an app like XE Currency or Units. Since the exchange rate is roughly 1 to 26,000, the math gets fuzzy fast.
- The Visa Fee: If you aren't using the E-visa (which you should), and you're getting a Visa on Arrival, you must pay the stamping fee in cash USD. They usually won't take Dong at the immigration desk.
Before you head out to the market today, take your largest USD bills to a licensed bank or a reputable gold shop in the Old Quarter or District 1. Exchange enough for 2-3 days so you aren't constantly hunting for a teller. If you have any damaged bills, try to use them at a high-end international hotel—they're sometimes a bit more forgiving than the local shops.