Currency in Vietnam

The Vietnamese dong has been the official currency of Vietnam since 1978. It was introduced as part of the country’s economic reforms, which sought to replace the confusing variety of currencies that had been used in the past. The dong was originally pegged to the U.S. dollar, but it was allowed to float in the mid-1990s. Today, it’s still the country’s official currency, but it’s been devalued several times over the years. 

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The exchange rate of the Vietnamese dong varies from day to day. The current exchange rate is around 23,000 dong to 1 U.S. dollar, which means that one U.S. dollar is worth about 23,000 dongs. This rate can fluctuate, so it’s important to be aware of the current rate before exchanging any money. 

When traveling in Vietnam, knowing where to exchange money is important. The easiest and most convenient way to exchange money is at banks, which can be found in most cities and towns. There are also ATMs and currency exchange booths in major cities. Be sure to check the exchange rate before exchanging any money, as some places may offer a better rate than others. 

Credit cards are becoming more widely accepted in Vietnam, with major hotels and restaurants often accepting Visa and Mastercard. However, it’s still a good idea to have some cash on hand, as not all places accept credit cards. It’s also important to be aware of the exchange rate when using a credit card, as some places may charge a commission for using one. 

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The Vietnamese dong is a fascinating currency with a long and interesting history. With its fluctuating exchange rate and increasing acceptance of credit cards, it’s an important part of everyday life in Vietnam. By knowing a bit about the currency, you can make sure you’re prepared for your travels in Vietnam.