Although Vietnam accepts dollars and euros like most countries, you should have some Vietnamese bank notes in hand to explore the country easily. If you are an aspiring traveler in Vietnam’s capital, look at our recommendations for money exchange spots in Hanoi.
Money Exchange Spots in Hanoi
Airport and Banks
The Noi Bai International Airport is the most convenient place to exchange your money, but the rates in these airports are notorious for being relatively low. Therefore, the airport is not a favorable option unless you need to have some Vietnam Dong immediately for taxi fares.
The second option is visiting Vietnam’s national bank since the rate is pretty competitive, and the process is hassle-free. On the other hand, you must spend some time here waiting and filling out the required forms to ensure security. Some banks you should utilize include Viettinbank, Vietcombank, Techcombank, VIB, HSBC, and BIDV. Commonly accepted currencies are JPY, USD, HKD, EUR, etc. Moreover, you can find ATMs positioned on Hanoi’s streets, making it easier for you to have your money converted.
Tips:
- Remember to bring your identification document when coming to the banks.
- Each bank has its opening hours and rates; tourists had better contact the bank first to look for needed information and compare the rates among banks.
Hotels
Tourists can also buy local currency in your accommodations, and you can ask the hotel receptionists if they have a money exchange service. This helps save time and keeps your money safe since you do not have to travel around to find money exchange spots on the streets. Some large and luxury hotels in Hanoi may have the same competitive exchange rates as banks, but small ones may charge some additional fees. However, not every hotel offers this service.
Gold/Jewelry Shops
The best money exchange spots in Hanoi are the numerous jewelry shops along Ha Trung Street. These shops are famed for being reputable changers with reasonable exchange rates. Tourists are often suggested to visit these gold and jewelry retailers if they do not want their transactions to take long since the documents here are comparatively simple.
Some recommended addresses:
1. Quoc Trinh Jewelry
Address: 27 Ha Trung Street, Hoan Kiem District.
Opening hours: 8 AM – 6 PM
2. Nhat Quang Gold Shop
Address: 57 Ha Trung Street, Hoan Kiem District
Opening hours: 8:30 AM – 8 PM
3. Kim Linh Jewelry
Address: 67 Hang Bac, Hoan Kiem District
Opening hours: Monday to Saturday, 8:30 AM – 6 PM
4. Bao Tin Minh Chau
Address: 29 Tran Nhan Tong Street, Hai Ba Trung District
Opening hours: 9 AM – 7 PM
Tips to Convert Your Currency into Vietnam Dong
- The exchange rate constantly fluctuates, so it is vital to keep up with it. As of April 2024, 1$ in United States Dollars equals 25,345 VND.
- First, plan your budget for your Vietnam trip and convert an adequate amount of money to protect yourself from thieves.
- If you have time, walk into 3-5 different money exchange spots in Hanoi, ask for their exchange rates, and choose the one with the best currency exchange bureau.
- Bring along your identification document in case it is required.
- You can pay for things in USD and use your cards, especially in big hotels and restaurants. However, this will incur some credit card transaction fees.
- Please remember to bring various denominations: smaller ones for cheap purchases such as water, food, and things from vending machines and larger ones for tours, entrance fees, taxi fare, etc.
- To avoid common scams in Vietnam, please examine Vietnamese banknotes closely and pay attention to small details on the paper.
Conclusion of Money Exchange Spots in Hanoi
Although reasonable rates for converting money are essential, try to stay away from the black markets and wisely choose a reputable money changer to make safe and reliable transactions.
Check out more fun things to do in Hanoi:
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