The Vietnamese dong is the national currency in Vietnam. It has the abbreviation D and the symbols D and d. The dong is issued by the State Bank of Vietnam. The currency has the ISO code VND. The dong was introduced in Vietnam in 1978 and has the lowest value in the world. Dong means “copper” in German. At the end of the 1980’s, Vietnam began to open up economically. This was the period when the worst of inflation occurred. Despite the poor value of the currency, Vietnam has developed into an economically strong country.
There are notes to the value of 200, 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 500,000 and 1,000,000 dong in circulation. There are also coins worth 200, 500, 1,000, 2,000, 5,000 dong.
Hao and Xu are the two sub-currencies of the dong, but they are not issued as separate coins or bills because they are too small in value. 1 dong equals 10 hao and 100 xu.
Since the Vietnamese dong is pegged to the dollar, the exchange rate of the dong to the euro fluctuates several times a day.
The dong is only traded in Vietnam and the neighboring countries. The founder of the socialist state, Ho Chi Minh, can still be seen on all dong bills. But the back of the dong has changed significantly. Instead of socialist motifs such as women in factories or tractors, today beautiful landscapes characterize the back of banknotes.
Halong Bay, for example, can be seen on the 200,000 dong note. It has been a UNESCO World Heritage Site since 1994. The inscriptions are in Vietnamese.
Exchange into dong
The exchange of euros in dong is particularly cheap, even if the dollar is usually better accepted. Many restaurants, shops, and hotels only quote their prices in dollars. But of course the euro is also accepted everywhere. In gold and jewelry stores you usually get a cheaper exchange rate than at the airport or in banks. There are no fees for changing cash. When cashing travelers checks in banks, however, fees are due.
Smaller amounts should generally be paid in cash in dong. Credit cards such as Visa / MasterCard, American Express and JCB international Card Company are mainly accepted by various travel agencies, hotels and larger businesses.
Important: The import and export of the dong is prohibited.