Best places to exchange money in Hanoi For foreigners

March 11, 2020 admin 0

The official currency in Vietnam is Dong (VND). Banknotes are issued in 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, and 500,000 dong . 20,000 and 500,000 bills look quite similar, so you must be careful when you exchange or use

You can exchange money at the airport where currency exchange services are available, however, the exchange rates is as high as these in the city.

Money exchange shops and jewelry stores may be the best options to get the most favorable rates. You can easily look for these shops in the Old Quarter. Another more secured option for you is to exchange money in at Bank branches or ATM.

Almost all banks in Vietnam also have a foreign currency exchange service. But it takes longer time to get transaction because you need to finish some information and present required documents

The major currencies that are widely accepted at Hanoi’s forex shops include USD, EUR, GBP, AUD, CAD, SGD, JPY, and HKD….
Read on for more details about the best places to exchange money in Hanoi. Here are the listed the best places to exchange money in Hanoi.

Exchange money at Hanoi airport

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A quick and easy way to exchange your currencies into Vietnam Dong is at the airport. In each international airport (including Hanoi airport and Ho Chi Minh City airport), you will find many counters at the exit where it is possible to exchange money.

The biggest advantage of the airport is to be able to exchange almost any currency. The counters are also easily accessible upon your arrival in Vietnam and the service is fast. The counters are open from 6.30am to 9pm.

The disadvantage of the airport is the exchange rate. The exchange rate is often disadvantageous. It is advisable to compare rates between each counter.

So, Hanoi airport is the most convenient way to exchange money in Hanoi but the exchange rate is not very good. That’s why we advise to exchange few currencies at the airport in order to take the taxi or the bus and exchange more money in Hanoi old quarter.

VND exchange rate

The Vietnamese dong (VND) is the Vietnamese official currency. The VND 10,000 is the smallest polymerised bill you’ll find on the street these days. Coins of as low as VND 200 have long been phased out but you will find bills of 1000 VND and 2000 VND. The upper limit is the VND 500,000 bill.

Getting a grip on all those zeroes can be challenging for the first-time visitor to Vietnam. With a little time and practice, buying and spending Vietnamese dong becomes second nature to the Vietnam visitor.

Try to exchange money this website: https://www.xe.com/

The exchange rate of the VND is modeled on the exchange rate of the US dollar and also takes into account the rate of inflation. So, about thirty years ago, a few Dongs were enough to buy a bowl of soup (or Pho Bo). Today, with the effect of inflation, the price of a bowl of soup is about 30,000 VND.

The rate of Vietnam Dong varies daily according to the variation of the US dollar. It is therefore necessary to check the current exchange rate of your currency in Vietnam Dong before going to a bank or the like.

The reference site for checking the exchange rate is: https://www.xe.com/en/

Exchange money at the hotel in Hanoi

A simple and practical way to exchange money in Hanoi is to do it directly at your hotel. Most hotels agree to do this. Your hotel used to help their customers in order to simplify there stay in Vietnam. So, you can ask them to do many things and also to exchange your money.

The hotel will exchange your money at the actual rate without taking any commission.

However, the hotel will often not be able to exchange large sums of money because they do not have enough Vietnam Dong in the cash register. It is worth going through your hotel to exchange small amounts of money in Hanoi.

If you arrive late in Hanoi old quarter and you do not have any local currencies, exchange money at your hotel is the most convenient way to get local currencies.

Note that all the hotel do not accept to exhange money. The small and budget hotels will not accept to exchange money.

Exchange money in the bank in Hanoi

Banks in Hanoi can exchange money in Vietnam Dong. In big cities, it’s easy to find banks on every street corner. The advantages of banks in Vietnam is to be able to exchange money at an interesting rate. Banks are also very secure. It is therefore easier to exchange a large quantity of liquid safely. Most of the employees at the counters also speak English.

The disadvantage of banks in Hanoi is the opening schedule. Indeed, most banks open at 9:00 am and close around 17:00. It is therefore not possible to exchange money in the late evening. Also, the banks are closed on sunday in Vietnam.

In addition, banks do not allow to exchange all currencies in Vietnam. Euros and dollars are accepted by all banks.

Apart from US Dollars, many banks in Vietnam still exchange VND for these foreign currencies:

Australian Dollar: 1 AUD ≈ 17,000 VND
British Pound: 1 GBP ≈ 29,000.
Euro: 1 EUR ≈ 25,000 VND
Canadian Dollar: 1 CAD ≈ 16,000 VND
Japanese Yen: 1 JPY ≈ 200 VND.
Singaporean Dollar: 1 SGD ≈ 16,000 VND.
Taiwanese Dollar: 1 TWD ≈ 500 VND
Hong Kong Dollar: 1 HKD ≈ 3,000 VND.
Swiss Franc: 1 CHF ≈ 22,000 VND.
New Zealand Dollars: 1 NZD ≈ 15,000 VND.
Thai : 1 THB ≈ 700 VND.

MONEY CHANGERS IN HANOI OLD QUARTER

The Old Quarter is the main tourist destination in Hanoi with Hoan Kiem Lake as the centerpiece. The atmosphere of the place is super vibrant with many kinds of activities day and night. Any kinds of services that one needs in Hanoi can be found here. So it is not hard to buy local currency in the area.

Forex service at the Old Quarter is mostly offered by gold dealers and tour operators. Their rates are often better than banks’ rates.

You can find these gold shops along Ha Trung and Hang Bac streets. Most of them only exchange US dollars and are open from Mondays to Saturdays.

RECOMMENDED MONEY CHANGERS

1) Quoc Trinh Gold Shop

This shop is just 2 minutes on foot from the Vietnam National Tuong Theater
Address: 27 Ha Trung, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3826 8856
Opening hours: Sunday to Friday 08:00 – 22:00

Go There now >>> Google Map.

2) Kim Linh Jewelry

This store is located beside Queen Hotel Hanoi, which is a 2-minute walk from Hanoi Ancient House
Address: 67 Hang Bac, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3825 3649
Opening hours: Monday to Saturday 8:30 – 18:00

3) Tu Binh Jewelry

It is located across Queen Hotel Hanoi
Address: 54 Hang Bac, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3824 9799
Opening hours: Monday to Saturday 08:30 – 17:00

4) Hanoi Money Exchange

This shop is just 5 minutes on foot from Hoan Kiem Lake
Address: 19B Hang Be, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3990 1733
Opening hours: Monday to Saturday 09:00 – 18:00*

5) Phu Van Jewelry

It is located across Vietnam Guesthouse
Address: 25 Luong Ngoc Quyen, Hang Buom, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3926 1764
Opening hours: Monday to Saturday 09:00 – 18:00*

6) Manh Hung Jewelry

Its location is just a 3-minute walk from Vietnam National Tuong Theater.
Address: 51 Ha Trung, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3938 2251
Opening hours: Daily 08:00 – 19:00

*Opening hours may vary. Call first before visiting.

BANK BRANCHES IN HANOI OLD QUARTER

Most bank branches at the Old Quarter in Hanoi are clustered around Hoan Kiem Lake and near Dong Kinh Nghia Thuc Square. Banks are the option to go for if you are looking for a more secure transaction and exchange rates are not your highest priority.

Among many banks available at the Old Quarter, Vietcombank, Vietinbank, and Techcombank are the most popular. For a successful transaction, bank account is not required but identification document is a must.

RECOMMENDED BANK BRANCHES

1) Vietinbank on Ly Thuong Kiet

This branch is just a 2-minute walk away from Vietnamese Women’s Museum
Address: 25 Ly Thuong Kiet, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3826 7112
Opening hours: Monday to Friday 08:00 – 17:00

2) Vietcombank on Cau Go

This branch is located on the north side of Dong Kinh Nghia Thuc Square
Address: 110 Cau Go, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3926 1236
Opening hours: Monday to Friday 08:00 – 17:00

3) Techcombank on Bat Dan

This branch is located near Hanoi Friendly Hotel
Address: 34 Bat Dan, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3923 2932
Opening hours: Monday to Friday 08:00 – 17:00, Saturday 08:00 – 12:00

4) Vietnam International Bank (VIB) on Dinh Tien Hoang

This branch is located at the north side of Hoan Kiem Lake near Dong Kinh Nghia Thuc Square
Address: 49 Dinh Tien Hoang, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3938 2180
Opening hours: Monday to Friday 08:00 – 17:00*

5) SHB on Hang Hanh

This branch is located near Dong Kinh Nghia Thuc Square and Golden Lakeside Hotel
Address: 8 Hang Hanh, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 6270 0420
Opening hours: Monday to Friday 08:00 – 17:00*

*Opening hours may vary. Call first before visiting.

RELIABLE MONEY CHANGERS IN OTHER AREAS OF HANOI

There are also reputable gold dealer shops outside the Old Quarter that provide professional currency exchange service.

Vang Hoang Tin gold shop – located near Kim Ma bus station, and Bao Tin Minh Chau – situated near Bay Mau lake are the two most visited places. Both shops are open daily.

RECOMMENDED MONEY CHANGERS

1) Vang Hoang Tin Gold Shop