Do I need to exchange RMB into US dollars or Vietnamese Dong when traveling to Vietnam?

Required.

1. In Vietnam, RMB does not circulate locally, but US dollars can be used locally. Hotels, airlines, and travel agencies usually price prices in U.S. dollars.

2. Domestic banks cannot exchange Vietnamese dong. You can convert RMB into US dollars before leaving the country, and then exchange it into Vietnamese dong after arriving in Vietnam.

3. In Vietnam, you can not only exchange currency at banks, but also at jewelry stores outside bank working hours. Their exchange rates are similar to those of banks.

Extended information:

Vietnam is rich in tourism resources, and 5 scenic spots have been listed as world cultural and natural heritage sites by UNESCO. The tourism industry is growing rapidly and has significant economic benefits. In 2010, it received 3.1 million foreign tourists, an increase of 38.8% over the previous year.

The main tourist source countries (regions) are mainland China (905,400), South Korea (495,900), Japan (442,100), the United States (431,000), Taiwan, China (334,000), and Australia (278,200) million), Cambodia (254,600), Thailand (222,800), Malaysia (211,300), and France (199,400).

The main tourist cities include: the capital Hanoi City, Ho Chi Minh City, Halong Bay in Quang Ninh Province, the ancient capital Hue, Nha Trang, Phan Thiet, Vung Tau, etc. Among them, Mui Ne, Vietnam is a tourist paradise for most kitesurfers.

Generally when traveling to Vietnam, when you arrive at the checkpoint, a vendor will come over and ask you if you need to exchange Vietnamese dong. You can exchange a few hundred yuan of Vietnamese dong with them first, so that you can eat and stay in Vietnam. It is also convenient and can be used in emergencies. When exchanging Vietnamese dong at the checkpoint, you don’t have to worry too much about counterfeit currency, because it basically won’t happen.

Exchange Vietnamese Dong:

1. Exchange at gold shops

When exchanging currency in Vietnam, it is generally recommended to go to gold shops to exchange. The exchange rate is very good, and it is not required. Worry about counterfeit money because the chance of it happening is really slim. The foreign exchange business of gold shops in Hanoi is mainly concentrated in Thirty Six Ancient Street near Huanjian Lake.

The street for foreign exchange exchange is called Hang Bac, mainly because travelers exchange more money. You can also exchange money at Pho Ha Trung, which is also a financial street not far from Huanjian Lake. You can exchange money there at any time, and the exchange rate is very high. And local Vietnamese also go there to exchange US dollars.

2. Bank exchange

Direct bank exchange is not recommended. When you arrive in Hanoi, Vietnam, you don't need to go to the bank to exchange RMB or US dollars, because the bank exchange rate is too low. If you are exchanging several thousand dollars at a time, it is really not cost-effective, and the loss will be very distressing.

The cities in Vietnam where it is convenient to exchange foreign currency are Hanoi and Saigon (Ho Chi Minh City). It is not that exchange is not possible in other tourist cities, but the exchange rate is relatively low and there are not many shops. When you encounter a shop that can exchange currency on the road, ask about the exchange rate and price, and compare several before making a decision.

3. ATM withdrawals

ATMs can be found everywhere in Hanoi, which is extremely convenient, but it may not be so easy in other small towns. As long as there are affiliate logos such as Cirrus and Plus on the cash machine, it means that cash can be withdrawn. Under normal circumstances, the handling fee for each single transaction is 20,000 dong, and the specific handling fee depends on the standards of different banks. There are hundreds of ATM machines in Vietnam where UnionPay cards can be used to withdraw Vietnamese Dong.

4. Swiping UnionPay cards

It is more difficult than imagined to use UnionPay cards to make purchases in Vietnam. Although UnionPay has already launched business in Vietnam, its popularity is much lower than that in Thailand. . Most places accept cash transactions and cannot swipe card purchases. Even if you can swipe a lot, you have to swipe a visa card or Mastercard card.

UnionPay’s authorized merchants in Vietnam are mainly well-known local hotels and souvenir shops, and they can all accept UnionPay cards. There is no need to pay handling fees when swiping cards in Vietnam. If you choose UnionPay network for consumption, compared with other international credit card networks, currency conversion fees ranging from 1% to 2% are waived. Currently, Vietnam mainly accepts UnionPay cards at three bank merchants: VIETCOMBANK, UOB and SACOMBANK.

Baidu Encyclopedia-Vietnam