Welcome to our comprehensive guide on Currency, Money, and Tipping in Hanoi, Vietnam.
Navigating the financial aspects of your journey in this vibrant and culturally rich city is an essential part of ensuring a smooth and enjoyable experience.
In this guide, we will provide valuable insights into the local currency, where to exchange money, how to handle payments and the art of tipping in Hanoi.
Whether you’re a first-time traveler to Vietnam or a seasoned explorer of its capital city, this information will help you make the most of your visit while managing your finances quickly and confidently.
Currency and money in Hanoi, Vietnam, are primarily based on the country’s official currency, which is the Vietnamese đồng (VND).
Here’s some information about currency and money in Hanoi:
Vietnamese Đồng (VND)
The Vietnamese đồng is the official currency of Vietnam. It is abbreviated as VND, and its symbol is “₫.” The đồng is issued and regulated by the State Bank of Vietnam.
Banknotes and coins come in various denominations, with the most common banknotes being 1,000 VND, 2,000 VND, 5,000 VND, 10,000 VND, 20,000 VND, 50,000 VND, 100,000 VND, 200,000 VND, and 500,000 VND.
Coins are not used.
Exchange Rates
The exchange rate of the Vietnamese đồng to other major currencies, such as the US dollar (USD), Euro (EUR), or Japanese yen (JPY), can fluctuate.
It’s advisable to check the current exchange rates when you plan to exchange money.
Exchange rates can be found at banks, currency exchange counters, and even some hotels in Hanoi.
The best place to exchange money is in the Old Quarter, especially on Hang Bac Street.
You can exchange money in many of the gold and jewelry shops in the Old Quarter.
Currency Exchange
Hanoi has many banks, exchange offices, and money changers where you can exchange your foreign currency for Vietnamese đồng.
Banks generally offer competitive rates, and it’s recommended to use reputable banks or exchange offices for your currency exchange.
ATMs
ATMs are widely available in Hanoi, and you can use them to withdraw Vietnamese đồng using your international debit or credit card.
Most ATMs support major card networks such as Visa and MasterCard.
However, it’s good to notify your bank about travel plans to ensure your cards work in Vietnam.
Some ATMs also offer the option to withdraw cash in either VND or a foreign currency, but choosing the local currency is often more cost-effective.
You can withdraw up to 3,000,000 in every transaction and only twice per day.
Keeping some cash on hand is also advisable, as not all places in Hanoi accept credit or debit cards.
Beware the sneaky withdrawal charges lurking around the corner – they’re like ninja fees, typically ranging from 25,000 dazzling đồng to 50,000 dashing đồng.
But here’s a little secret for you: MB Bank is the friendly neighborhood hero, letting you grab up to 6,000,000 đồng at once, and Commonwealth Bank? Well, they take it up a notch, allowing you to waltz away with a whopping 10,000,000 đồng in one glorious swoop.
It’s almost like they’re trying to make you feel like a millionaire!
Credit Cards
Credit cards are accepted in many hotels, upscale restaurants, and shops in Hanoi, especially in tourist areas.
Major credit cards like Visa and MasterCard are more widely accepted than others.
However, in smaller, local shops and markets, it’s common to use cash.
Tipping
Tipping is not mandatory in Vietnam, but it’s appreciated for good service. In restaurants, it’s customary to leave a tip of around 5-10% of the bill, although it’s not always expected.
For services like taxis, rounding up the fare is a common way to show appreciation.
Currency Precautions
When handling currency in Hanoi, be cautious of counterfeit money.
While it’s relatively rare, it’s a good idea to check your banknotes for authenticity, especially when dealing with larger denominations.
Overall, the currency and money system in Hanoi, Vietnam, is straightforward, with multiple options for exchanging and accessing funds.
It’s essential to be aware of the current exchange rates, use reputable sources for currency exchange, and be mindful of the denominations you use in your day-to-day transactions.
Currency and Money in Hanoi, Vietnam
| Currency | Symbol | Denominations |
|---|---|---|
| Vietnamese Đồng (VND) | ₫ | 1,000 VND, 2,000 VND, 5,000 VND, 10,000 VND, 20,000 VND, 50,000 VND, 100,000 VND, 200,000 VND, and 500,000 VND. |
Useful Information
| Exchange Rates | Fluctuate – Check with local sources |
|---|---|
| Currency Exchange | Hang Bac Street, Old Quarter. |
| ATMs | Widely available – Accept international cards |
| Credit Cards | Accepted in many establishments |
| Tipping | Not mandatory but appreciated (5-10% in restaurants) |
FAQs
Here are some common questions about currency, money, and tipping in Hanoi, Vietnam:
What is the best currency to take to Vietnam?
The best currency to take to Vietnam is the Vietnamese Đồng (VND) for local transactions. However, it’s good to have some US dollars (USD) for emergencies and more significant expenses.
How much is $1 US in Vietnam?
$1 US is approximately 22,000-25,000 VND. Exchange rates may vary
What is $100 in Vietnam?
$100 US is equivalent to around 2,200,000-2,300,000 VND, depending on the current exchange rate.
What currency can I use in Vietnam?
The official currency is Vietnamese Đồng (VND), but US dollars are widely accepted in tourist areas. Credit cards are also commonly used.
How much is $100 US in Vietnam?
$100 US is about 2,200,000-2,300,000 VND, depending on the exchange rate.
What is the best currency to use in Vietnam?
For everyday transactions in Vietnam, it’s best to use the local currency, Vietnamese Đồng (VND).
Should I take cash to Vietnam?
It’s advisable to carry a mix of Vietnamese Đồng (VND) and US dollars (USD) for convenience, but local currency is preferred.
Can I use euros in Vietnam?
While some places may accept euros, it’s not the most common currency, so it’s better to use VND or USD.
How much do I tip in Vietnam?
Tipping is not mandatory, but it’s appreciated. In restaurants, a 5-10% tip is customary.
How much do you tip a driver and guide in Vietnam?
Tipping practices vary, but for drivers and guides in Vietnam, it’s common to tip around $5-10 per day, depending on the service and your satisfaction.
In conclusion
Understanding the nuances of currency, money management, and tipping in Hanoi, Vietnam, is vital to ensuring a hassle-free and enriching experience in this captivating city.
By familiarizing yourself with the Vietnamese đồng, exchange rates, and the various financial options available, you can navigate Hanoi with confidence.
Whether you embrace the local currency, the convenience of US dollars, or credit cards, knowing your financial options empowers you to explore this vibrant city without any financial hiccups.
Tipping, while not obligatory, is a gracious way to appreciate the excellent service you’ll encounter in Hanoi.
From savoring street food to exploring ancient temples, managing your money wisely enhances your journey, immersing yourself fully in the rich culture, history, and hospitality that Hanoi, Vietnam, offers.
So, go forth and explore with your wallet and heart open, and let Hanoi’s charm captivate you in more ways than one!
