Safe and Easy Currency Exchange Hanoi Guide

In Vietnam, only VND (Vietnamese Dong), the official currency of Vietnam, is accepted in restaurants, hotels, shops, and local markets — USD or Euros simply won't work. Choosing the right place to exchange money Hanoi is crucial, as poor rates or hidden fees could cost you 10–20% more. Scams in tourist areas are real risks, and exchanging at airports or with street vendors is a mistake you’ll want to avoid. A smart approach to currency exchange will help protect your budget and ensure a smoother, safer trip.

1. Overview of Vietnam’s Currency (VND) and Exchange Basics

Vietnam's currency, the mighty Vietnamese Dong (VND), comes in colorful bills made of paper (smaller values) and polymer material (higher values). Watch for hidden image elements and embossing – a quick way to verify authenticity!

VND denominations include 10,000, 20,000, 50,000, 100,000, 200,000, and 500,000.
Mental hack for travelers:

• Remove three zeros from the price.
• Then divide by about 23 to estimate USD value.
  Example: 500,000 VND → 500 → ~21–22 USD.

Pro tip: Exchange rates fluctuate daily. Always check reliable apps like XE Currency, Google, or check banks like Vietcombank and Vietinbank for updates.

2. Legal and Safe Ways to Exchange Currency in Hanoi

Vietnam is serious about legal currency exchange. Under Decree 89/2016/NĐ-CP, only banks, authorized hotels, airports, and certified gold/jewelry shops can offer currency services.
Avoid the black market – it's illegal, risky, and if caught, your money could be confiscated.

Stick to places that:

• Offer currency exchange services officially.
• Clearly display rates and provide printed receipts.
• Are certified agents partnered with licensed banks like Vietcombank, BIDV, Agribank, and Techcombank.

Trust me – it’s just not worth gambling your vacation money!

3. Where to Exchange Money Safely in Hanoi: Best Options

Banks – The Reliable Pillars

Top banks like Vietcombank, Vietinbank, BIDV, and Techcombank offer safe currency exchange Hanoi services.

• Pros: 100% legal, secure transactions, authentic notes guaranteed, receipts provided.
• Cons:
  • Slightly lower rates (banks charge service fees around 0.5–2%).
  • Limited business hours Monday to Friday, usually 8 AM to 5 PM.

Important: Bring new, clean notes — worn or torn bills may incur extra 2% fees.

Hotels (3-Star and Above)

Many upscale hotels offer currency exchange services for guest convenience.

• Pros: Very convenient if you’re staying at top chains.
• Cons: Exchange rates often less competitive compared to banks or gold shops.

Tip: Always ask for their posted rates first before agreeing!

Airport Desks – Emergency Only

Yes, you’ll find currency desks at Noi Bai International Airport.
But beware:

• Rates here are the least competitive.
• Best used if you arrive late at night and need some VND immediately for taxis or SIM cards.

Pro tip: Exchange a small amount at the airport, then head to the Old Quarter for a better deal!

Gold & Jewelry Shops in Hanoi Old Quarter – Where Locals Go

This is where the magic happens for savvy travelers!
In Hanoi’s Old Quarter, many gold and jewelry shops offer far more competitive rates than banks.

Top Recommended Shops (Updated 2025):

• Quoc Trinh Gold Shop – 27 Ha Trung Street, Hoan Kiem District.
  Open 8 AM–7 PM, great rates, professional service.
• Kim Linh Jewelry – 67 Hang Bac Street, near Hanoi Ancient House.
  Quick transactions, highly trusted by tourists.
• Phu Van Jewelry – 25 Luong Ngoc Quyen Street.
  Friendly service, comfortable waiting area, fair rates.

Why gold shops?

• Better exchange rates.
• Quick service – often under 5 minutes.
• Staff accustomed to handling foreign currencies like USD, EUR, GBP, and JPY.

Important Reminder: Count your money carefully before leaving the shop!

Other Reputable Locations

Looking beyond the Old Quarter? Here are additional certified places:

• State Bank of Vietnam – 49 Ly Thai To Street, Hoan Kiem District.
• Bao Tin Minh Chau – 29 Tran Nhan Tong Street, Hai Ba Trung District.
• Sacombank Offices – Multiple locations across Hanoi.

4. How to Get the Best Currency Exchange Rates

Ready to become a currency exchange Hanoi expert? Here’s how to maximize every dong:

1. Check real-time rates before stepping out.
   Use trusted apps like XE Currency or check the Vietcombank website directly.
2. Compare 2–3 shops in the same area.
   In Old Quarter, a few minutes of walking could save you 1–2%!
3. Negotiate (politely!) at jewelry shops.
   Many allow a small room for better rates if you're exchanging larger amounts.
4. Get a range of VND notes. Avoid carrying only big bills (500,000 VND) — they are hard to use in taxis or small shops.
5. Avoid exchanging large amounts in one go unless you need it.
   And remember: carrying too much cash can attract unwanted attention.
6. Plan your ATM withdrawals wisely! For detailed guidance, check out our in-depth article on maximum atm withdrawal vietnam.
7. Learn more essential travel hacks in our insider's guide to Vietnam travel tips — a must-read for any smart traveler!

5. Common Mistakes to Avoid When Exchanging Money

Exchanging at Airport Kiosks

Yes, the convenience is tempting after a long flight. But at Noi Bai International Airport and most airports in major cities like Hanoi and Ho Chi Minh City, kiosks often offer poor exchange rates and charge hidden commissions. If possible, avoid exchanging large sums there. Only exchange enough for taxi rides or emergencies.

Accepting Damaged or Fake Notes

Vietnamese vnd notes, especially those made of polymer material, are quite durable but always double-check!

• Look for the hidden image element and embossing to verify authenticity.
• Damaged notes (torn or scribbled) may be refused in restaurants and shopping centers. Always inspect your bills before leaving the counter!

Falling for “Zero Fee” Traps

Beware of locations advertising “zero commission” or “best rate guaranteed”. The trick? They inflate the currency rate subtly, leaving you with fewer VND. Stick with trusted banks like Vietcombank, Vietinbank, or Agribank, or recommended gold and jewelry shops where real competitive rates are offered transparently.

Exchanging Too Much Money at Once

While tempting to get it all done, carrying huge bundles of cash around Hanoi’s busy tourist areas is risky. Instead, exchange currencies gradually based on your real spending needs.

Using Street Vendors

Never, ever exchange money Hanoi with random vendors on sidewalks, even if their rates seem appealing. It's illegal, unsafe, and counterfeit risks are high. Always offer currency exchange services through verified institutions.

6. Expert Tips for Hassle-Free Money Exchange

Ready to master the art of smart currency management in Vietnam? Here are field-tested tips from someone who’s guided hundreds of travelers through Hanoi’s busy streets!

1. Always Ask for a Receipt:  Especially at banks and larger shops. This protects you if discrepancies arise later.

2. Break Down Large VND Bills:  Request a mix of denominations when exchanging — like 20,000 VND, 50,000 VND, 100,000 VND notes. Taxis, small cafes, and street vendors may not have enough change for a 500,000 VND note.

3. Double-Check Money Before Leaving the Counter:  Count your money carefully right there. Vietnamese polymer notes can stick together!

4. Keep Exchanged Cash Securely:  Use your hotel safe or a neck wallet. In busy areas like the Old Quarter, pickpocketing is not uncommon.

7. Alternative: Digital and Card Options (Brief)

Digital banking is growing in Vietnam, especially in major cities like Hanoi and Ho Chi Minh City. While currency exchange Hanoi is still essential for daily cash needs, you can supplement with cards and apps:

Digital Services like Wise or Revolut

• Transfer money with competitive rates.
• Pay at some modern restaurants and shopping malls.
• Great for avoiding carrying large amounts of cash.

Local ATMs

• Widely available from banks like Vietcombank, Vietinbank, Agribank.
• Most limit single withdrawals (typically 2-5 million VND). 

International Credit/Debit Cards

• Accepted at larger hotels, malls, upscale restaurants.
• Watch for foreign transaction fees (usually 2–4%).
• Always choose to pay in VND — never let shops "convert to your home currency," as the exchange rate is usually worse.

Final Word: Still always carry some cash. Hanoi’s charming street stalls, small museums, and local taxis often don’t accept credit cards.

8. Conclusion

Navigating currency exchange Hanoi doesn’t have to be daunting — it can actually be fun if you’re well-prepared! Choose certified banks or trusted gold shop partners, count your money carefully, dodge the common traps, and manage your cash securely. By applying these expert strategies, you’re not just getting better exchange rates — you’re setting yourself up for a trip full of smooth adventures, incredible food, and unforgettable memories.

9. FAQ Section: Fast Answers for Common Traveler Questions

What’s the Current Exchange Rate in Hanoi?

• It varies daily! As of 2025, expect around 25,400–26,000 VND for 1 USD.
• Always check reliable sources before you exchange currencies.

Can I Use USD/Euro Directly in Vietnam?

• No. The official currency of Vietnam is Vietnamese Dong (VND).
• Vendors only accept VND except rare exceptions at airports or luxury hotels.

How Much VND Should I Exchange for a 7-Day Trip?

• Budget around 5–6 million VND per person for daily expenses (excluding luxury items).
• Exchange money Hanoi gradually depending on your spending style.

Planning your trip? Don't miss our full insider's guide packed with Vietnam travel tips to help you travel smarter and safer!