Which money to take to Vietnam so you don't lose on exchange rates – our breakdown

The golden rule: what works flawlessly

If you ask anyone who's been to Vietnam at least once, they'll tell you: cash dollars solve everything. Vietnam is a country where cash is still queen. Yes, large malls and hotels accept cards, but as soon as you hit the market, get into a taxi, or try to pay a local guide for a tour — you need cash dong.

We believe the ideal strategy for a trip to Vietnam is a combined approach: 80% of your budget in cash dollars, and the remaining 20% on a card or app for QR payments as a backup. That way you won't lose on exchange rates and will be protected against unforeseen situations.

Cash vs Cards vs QR: comparing losses in money

We regularly test all payment methods in Vietnam and calculate real losses. Here are the current calculations:

As you can see, the difference is huge. On every 10,000 rubles spent via MIR card, you lose almost 1000 rubles compared to cash dollars. For a long trip, that's significant.

Cash: dollars, euros, or yuan

Dollar – the king of Vietnam

The US dollar is the base currency for exchange in Vietnam. It's accepted everywhere: from the airport to a small village. The dollar rate is always better than the euro or yuan. This is because the dollar is the country's main reserve currency, and banks/exchange offices are more willing to work with it.

But there's a catch: the condition of the bills is critical. Vietnamese are very picky about the appearance of dollars. Any creases, wear, stains, or markings reduce the rate by 1-2%, and sometimes lead to outright refusal. We always buy dollars at Russian banks and immediately check each bill: it should be clean, without folds or pen marks.

Euro and yuan: backup options

Euros are exchanged almost everywhere in Vietnam, but the rate is 1-1.5% worse than the dollar. If you already have euros, don't exchange them for dollars in Russia — you'll lose more. Just bring them and exchange on the spot.

The situation with yuan is more interesting. They are accepted at many exchange offices, especially in tourist areas, but the rate can be unstable. Yuan hasn't yet become the main currency for exchange, although the flow of Chinese tourists and business is growing. We don't recommend buying yuan specifically for a trip, but if you already have them — feel free to bring them.

Rubles in Vietnam: possible, but why?

You can exchange rubles in Vietnam, but it's the least profitable way. Losses are 5-7% from the cash dollar rate, and that's in the best case. Exchange offices with rubles are only in Nha Trang, Mui Ne, and sometimes in Hanoi/Ho Chi Minh City and Da Nang — usually Russian-speaking travel agencies. We don't recommend bringing rubles specifically, but if you find yourself without other currency, it's better than nothing.

Cards: what actually works for Russians

Foreign bank cards – convenient but expensive

If you have a card from a bank registered outside Russia (Kazakhstan, Georgia, Uzbekistan, etc.), it will work in Vietnam almost everywhere – for both payments and cash withdrawals. But there's one "but": getting such a card now costs at least 20,000 rubles (including travel, account opening, and maintenance). For one or two trips a year, we can't recommend it – the savings on exchange rates won't cover these costs. If you travel frequently or live abroad, it's a good option, but for the average tourist – it's too expensive.

Also, don't forget about conversion and withdrawal fees – they can also eat into your budget. So consider this method only as a long-term solution.

MIR cards – work, but very poorly

MIR cards work in Vietnam only at ATMs and terminals of VRB bank (Vietnam-Russia Bank). Other banks don't accept them. The full list of acceptance points (ATMs and stores) is in the official PDF on the VRB website. VRB ATMs are in large cities: Hanoi, Ho Chi Minh City, Nha Trang, Da Nang, Haiphong, Vung Tau – but there are few of them, and they're not always easy to find.

We calculated withdrawing 1,000,000 dong from a T-Bank MIR card (with no withdrawal fee) and got:

• Debited from card: 3,356 rubles.
• If we had exchanged the same money via cash dollars, we would have gotten 1,084,000 dong.
• Loss: 84,000 dong, or 8.4%.

If your bank charges a fee, losses rise to 10-12%. So we recommend MIR cards only as a backup – in case you run out of cash.

UnionPay cards from Russian banks – great for payments

Among Russian banks, UnionPay cards are currently issued mainly by Rosselkhozbank (RSHB). There's also ATB, but it's less common. UnionPay is accepted at almost all terminals in Vietnam, making it a great alternative to cash.

But there's an important nuance: it's more profitable to have a card in yuan. When paying in dong, conversion goes to yuan, then to rubles (if the card is ruble-based). This gives double conversion and losses of 4-6%. If you have a yuan card, there's only one conversion – from dong to yuan – and losses drop to 2-4%.

Withdrawing cash from UnionPay is expensive – ATM and bank fees eat another 1-3%. So UnionPay is better for paying for purchases, not for withdrawals.

For more details on fees, limits, and all working ATMs – in our separate guide on cards and ATMs in Vietnam.

QR code payment: convenient and almost profitable

A convenient option for Russians is paying via QR code from Sber, VTB, or MTS apps. It works at large chains (Lotte, Co.opmart, Big C) and some restaurants. No MIR card needed — money is debited directly from your ruble account, conversion is at the MIR payment system rate with no additional fees (the fee is built into the rate difference).

We checked: losses compared to cash dollars are only 2-2.5%. That's very decent. For small purchases and supermarket trips — ideal. The main thing is to have internet. So be sure to buy a local SIM card or eSIM (read our guide about connectivity in Vietnam).

Where to exchange money to avoid losses

We've already mentioned that the best rates are at jewelry stores. They give rates above the official one, and we always exchange only there. But be careful:

• At the airport the rate is 1-2% worse, but it's convenient to exchange 50-100 dollars for initial expenses to get to the hotel.
• At banks the rate is 2-4% worse, and they often refuse old dollars.
• At hotels and travel agencies the rate is the worst — you lose up to 5%. Exchange there only in emergencies.
• Street money changers on Telegram — risk of fraud. We don't recommend, especially for beginners. If you don't want to lose money, stay away.

Where to find jewelry shops? Each major city has its own spots:

• Mui Ne — two shops at the market in Mui Ne village.
• Ho Chi Minh City — Pham Ngu Lao tourist street area, Ben Thanh Market. We've checked Kim Mai Jewelry Shop — always a good rate.
• Nha Trang — jewelry shops near Cho Dam market, especially Kim Vinh.
• Hanoi — Hang Bac and Ha Trung streets (west of the lake).

Always visit 2-3 places and compare the rate. Sometimes a 1-2% difference is already noticeable money on large amounts.

Final choice: who should take what

Now let's bring it all together into a single strategy for different types of travelers:

And one more important point: officially all transactions in Vietnam are in dong. But in practice, tourist services are often quoted in dollars, although they also accept dong at the current rate. We always carry a calculator on our phone to quickly convert prices and not overpay.