How can I exchange Vietnam Dong outside of Vietnam?

Question

I didn't realize that there were such things as "closed" currencies such as the Vietnamese Dong, until after leaving Vietnam. Now I have 1.5 million VND back home in New York, and I have no idea what to do with it (how to spend it or exchange it). Any suggestions?

Answer 1

we don't want it over here, send it back

Answer 2

when i get back to ny in about two months i'll take it off your hands.. at a serious discount of course...lol ... post in 2 more months[around thanksgiving] and we'll get in touch..yeah i'm serious...

Answer 3

That's about $100 US. But non-convertible outside of Vietnam.

The deal is that you give the Vietnamese government hard currency, and they give you funny colored bits of paper in return. Its worth nothing outside of nam.

Donate to a local charity perhaps?

Try http://www.soschildrensvillages.org.uk/s... for example.

There is a local adress for their branch in Hanoi. I think they'd love to receive a package with some dong in it.

Answer 4

Never heard of anyone being able to do that. US banks are horrible in that aspect, it's so hard to get any other currency here, let alone the Dong. Best course is to find someone going to VN and exchange it with them.

I always make sure I don't have too much Dong when I come back to the US, and I give any I still have to different beggars in the city before leaving. It's useless to us, but means a lot of food for them.

Answer 5

give it back to ur family in VN....u can't spend it in the state, o u can just use it for show n tell....

Answer 6

You hit it right on the head when you called the dong a "closed" currency, that's what it is.  Maybe one of those Communist things,  some of their ideas seem a bit strange.

Give it to a Vietnamese charity in the states, they can probably figure out how to use it.  Then take it off your taxes.

A point to mention is that the new international airport in Saigon doesn't have money changing service like the old one did.  So a lot of people are going to have the same problem you have.

Answer 7

I had that problem as well a few years back when I returned from Vietnam on the first of my recent trips there. I forgot that I had all Dong in my wallet when I got gas for my car the night after I returned home. I don't think the cashier had seen a million of anything before, but he wasn't going to take my Dongs to pay for my gas.

It's a bit ironic that most U.S. bank branches aren't accustomed to forex (foreign exchange) or international banking transactions, while you can walk into just about any bank in Vietnam to exchange USD for VND or vice versa without much issue. Odds are that any U.S. bank will exchange your VND to USD if you ask the right questions to the right people, but it's probably best to exchange with U.S. banks that have offices in Vietnam as well. Bank of America and CitiBank have branches in Hanoi and HCMC. I would go to one of those banks closest to you to see about exchanging VND back to USD.  

There's another option that you may want to consider. Keep your VND for your next trip to Vietnam. I always keep a couple million VND so I don't have to s***w with the poor exchange rate at the airport when I return to Vietnam. This trip, I had enough VND with me to take my wife out to lunch and buy her a few things at Ben Thanh Market before heading home.

Answer 8

u can't exchange it back to US dollar.

hmmm... i suggest u keep it u can use it the next time u go to vietnam. =D

else check out ur frens who are going tehre and exchange the VND with them but do give them the rate that u got the VND for. =D

Answer 9

Put it on Ebay for haft the price, maybe you are lucky enough to get 50% of your money back.  There are always some one going to VN, $50 for 1.5 million Dong is a good deal.  Good luck.