Converting money in Vietnam?

Question

Alright, I'm going to Vietnam this summer with my older brother (17). It'll be just me and him on the plane and stuff and we will be finding our way until we get the the airport where we will be picked up by relatives.

I'm alright with traveling without an adult but my problem is how are we going to convert over American money into Vietnamese money. I've done some research and it says 1 US Dollar = 16,592.0 Vietnamese Dong (dollars). So let's say you want to convert $500 American money for shopping and living expenses, thats... 8,296,000 in Vietnamese money -_- I have a feeling they are not going to give this much to a 16 and 17 yr old kid when we get there to convert our money, (or will they...that'd be kind of weird -_-')

What's your opinion? Thanks for taking the time to answer also >.<

Answer 1

use the universal money online converter

it&#039;s easy!

http://www.xe.com/ucc/

Answer 2

Carry only about $ 100 in cash to Vietnam to exchange at the airport for your initial spending. The rest of the money should remain in your checking account in the States.

Use your debit card to withdraw cash in Vietnamese currency directly   at ATM&#039;s in Vietnam. Your account will be charged a very reasonable exchange rate, much more favorable  compared to those at money exchange places. Plus you do not have to carry a large sum in cash at anytime.

Answer 3

Although I am British I am married to a Vietnamese girl and visit very regularly.

Advice is correct inthat you will get the rate stated regardless of age. However, assuming the exchange facilities are open at the airport (which they sometimes are not) DO NOT exchange your money there, you will do better exchanging at a bank in the city or better still at a gold shop where you can often (but not always) find the best rates in Vietnam (in the northern cities the Gold shops are certainly a good bet to check out).

Your relatives should be able to advise you and accompany you to get the money and ensure you are given the correct amount. The majority of money changers, even in gold shops, are honest but you meet the occasional exception as anywhere. You should certainly shop around before you change your money though, rates are not fixed at a standard 16,000 as one person said.

If the US$ is on the increase it might be best to change part of your money and then more lates as if the global value of the dollar does increase you will may more Dong.

Also do not worry about the amount of money you will pick up. There are notes of up to 500,000 Dong in Vietnam so you may not end up with a sack of money. However, ask for a fair amout of small change as this will comes in very handy.

Good luck and enjoy.

Answer 4

You have some good answers already, but there are some details left out that you should know to make it easier on you.

Contrary to popular belief, you can use ANY U.S. denomination of currency in Vietnam if you know what you&#039;re doing. If you don&#039;t you will get short changed, and you don&#039;t want to get short changed on a $100 bill.

Make sure all of your US currency is new and crisp. Bring mostly $100 bills except for about $100 in smaller denominations, such as 20&#039;s, 5&#039;s and 1&#039;s. The smaller denominations are for getting you from home, through the airports and eventually to where you can exchange your money. Make sure you save about $20 worth of smaller bills for your trip home. Ironically, the airport tax is better paid in dollars than in VND, because the officials will usually short change you if you pay in VND. Be smart about what you pay for and how much it should cost in dollars.

The locals that you can trust will usually give you a better exchange rate than banks or other institutions will. They will round upwards just for the opportunity of getting U.S. currency. If you cannot trust anyone there, then go to any bank. You will get the flat rate exchange based on the current rate. The banks will not care if you&#039;re 17 or 70. It&#039;s the money they are concerned about.

Off the subject, I should warn you about some recent events in Vietnam that you should take some precautions. There is an ongoing problem with child kidnappings in Vietnam, and especially with girls. A distant niece of mine was kidnapped in Hanoi almost right in front of her parents. The local police were helpful, but couldn&#039;t find her despite searching for a few months already. That in mind, DO NOT go anywhere alone while you&#039;re there.

Otherwise, have fun on your trip!

Answer 5

New crisp bills will exchange for more than old dirty bills. Alot of tourist places accept american money, they even list prices in american currency.

Answer 6

Gerald above is correct,dont worry,also dont worry to much about the exchange rate,everywhere you will get 16000 for 1usd,you could if you had enough small dollars never exchange any money,the usd is a second currency and accepted everywhere,

Answer 7

so How long have u be there? 1 week? U said u have relatives ( and u will stay with them), and i think with 500$ it&#039;s very ok for both of u so spend within a week, and even u can buy some sourvenir for friends.

Answer 8

in most places you&#039;ll get a flat rate of 16000 to the dollar. at the air port you may get less , at a bank you will get closer to the excat rate of the day. you will never get short changed from the agreed upon rate ! never! and you probably will never have to change more than $100 at a time.. it goes a long way and you can use us dollars around town.  make sure you have enough vn dong to get you through the weekends and if you are going to the countryside.  be polite, dont &quot;flash cash&quot; and enjoi youselfs.

Answer 9

You&#039;ll get the same rate whether you&#039;re 15 yrs. old or 150 yrs. old. You can change your money at the airport when you arrive, the rate will be posted and that is the rate for everyone regardless of your age. Many times you can get a better rate at a bank or money changer in the city, so you might want to exchange a small amount at the airport and the rest at a bank. Remember that the rate will change daily, sometimes hourly and you will get a little less than the official rate, the money exchange or the bank needs to make something, too. Good luck.