The currency of Vietnam is the dong, abbreviated into "d". The banknote is made into dominations of 200d, 500d, 1000d, 2000d, 5000d, 10,000d, 20,000d, 50,000d, 100,000d, and 500,000d. There are no coins currently used in Vietnam. 1US$ is equivalent to around 15,900d. The dong has experienced its vicissitude of inflation and increasing value along the economic situations. Nowadays, the value of the dong was further weakened due to slowing down economic situation after the crisis in Southeast Asia.
The banking system in Vietnam today makes an effort to conform that of the Western style. Therefore, travelers' cheques, credit cards, telegraphic transfer are all available in Vietnam. Officially, all business in Vietnam must accept the payment in dong only. However, recently, many up-scale hotels and restaurants in major cities increasingly demand for payment in US$. Visa, MasterCard, and JCB cards are now widely accepted in all major cities and tourists centers, but 3% will be charged for commission in each time paying. The farer you are from the city, the more difficult to find banks for cashing. Therefore, please be sure to change the sufficient cash before going out to the countryside.
For exchanging money, you can, in fact, convert, major currencies in Vietnam, but US dollars are still much preferred. The most reliable spot for exchange is bank. Exchanging your money in other places like the black market is not recommended. When departing from Vietnam, you need to change back the dong into your own original currency; it is illegal to take the dong out of Vietnam.
