The Vietnamese deal in Dong or Vietnamese Dong (VND). While travelling in Vietnam you will notice that you can use US dollar on many occasions. People love to get their hands on it so will gleefully take it off your hands.
Basically hotel rooms are priced US Dollar. Since 2005 the USD has gradually increased in value every year against the Vietnamese Dong.
US Dollar VS Vietnamese Dong (VND)
2005 – $1 = VND 15,746
2007 – $1 = VND 16,119
2010 – $1 = VND 19,050
2015 – $1 = VND 22,497
In 2010 the best place to exchange your money was at a gold shop, they are registered to do so and the rate is much better than the bank.
Check out on the internet first before going to exchange so you know if you are happy with the rate. Prices vary from different gold shops so if you are not happy with the rate don’t change it.
Almost every hotel will exchange money, and one would think that the rate would be terrible, but we have found that small hotels in the Old Quarter actually give a better rate than the one we checked on the internet.
The cash of any currency you bring into Vietnam make sure all the notes look good, are a relatively newly released note with no tiny tears, otherwise they will not be accepted for exchange that goes for local notes as well. Always look when you get notes given back to you and if they look old don’t take it. For convenience bring lots of small notes denominations ($1USD and $5USD).