Although Vietnam accepts Dollars and Euros like most countries, it is advisable that you have some Vietnamese currency in hand to explore the country at ease. If you are an aspiring traveler in the capital of Vietnam, take a look at our recommendations for money exchange spots in Hanoi
The most convenient place to exchange your money is the airport, but the rates in these airports are notorious for being rather low. Therefore, unless you need to have some Vietnam Dong immediately for taxi fares, the airport is not a favorable option.
A sign saying "Currency Exchange" indicates an exchange spot in the airport.
Nonetheless, tourists are recommended to go to bank branches since their exchange rates are quite competitive. On the other hand, you have to spend quite some time here waiting and filling out the required forms to assure security. Some banks that you should utilize include Viettinbank, Vietcombank, Techcombank, VIB, HSBC, and BIDV. Commonly accepted currencies are JPY, USD, HKD, EUR, etc. Moreover, you can find ATM positioned on the streets of Hanoi, which is easier for you to have your money converted.
Banks are a good choice if you want to have both the best exchange rates and safety
Tourists can also buy local currency in your accommodations where you can ask the hotel receptionists if they have a money exchange service. This does not only help to save time but also keep your money safe since you do not have to travel around to find money exchange spots on the streets. Some large and luxury hotels in Hanoi may have the same competitive exchange rates compared to banks, but small ones may charge some additional fees.
The best money exchange spots in Hanoi have to be numerous jewelry shops along Ha Trung Street. These shops have been famed for being reputable changers with reasonable exchange rates. Tourists are often suggested to visit these gold and jewelry retailers if they do not want their transactions to take long since the document here is comparatively simple.
Some recommended addresses:
1. Quoc Trinh Jewelry
Address: 27 Ha Trung Street, Hoan Kiem District.
Opening hours: 8 AM - 6 PM
Telephone number: 024 3826 8856
In comparison with other changers on Ha Trung Street, Quoc Trinh is known to have higher exchange rates.
2. Nhat Quang Gold Shop
Address: 57 Ha Trung Street, Hoan Kiem District
Opening hours: 8:30 AM - 8 PM
Telephone number: 024 3938 6526
Nhat Quang Gold Shop is another popular money exchange spot in Hanoi
3. Kim Linh Jewelry
Address: 67 Hang Bac, Hoan Kiem District
Opening hours: Monday to Saturday 8:30 AM - 6 PM
Telephone number: 024 3825 3649
This place has quite a similar exchange rate compared to Quoc Trinh but is less crowded
4. Bao Tin Minh Chau
Address: 29 Tran Nhan Tong, Bui Thi Xuan Street, Hai Ba Trung District, Hanoi
Opening hours: 9 AM - 7 PM
Telephone number: 1800 585899
Bao Tin Minh Chau is an authorized money exchange spot in Hanoi
Although reasonable rates in converting money are essential, try to stay away from the black markets and wisely choose for yourself one reputable money changers to do safe and reliable transactions.
If you're traveling to Ho Chi Minh City, check out Money Exchange Spots in Ho Chi Minh City.
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© Written by Giang Le for itourvn.com
The local gold shops may not speak English though. I've already tried that. So asking for the hotel receptionist's help may be the safest solution
The airport is not so bad: Airport offered 29k per GBP even on just £20; exchange shop in hanoi offered 28.5k on £100
Xe.com lists 29.4k/GBP