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Living Standard, Currency, Economy & Education in Vietnam

20080422170342adv_fly_2022008_114346Vietnam is a densely-populated, developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Growth averaged around 9% per year from 1993 to 1997. The 1997 Asian financial crisis temporarily allowed opponents of reform to slow progress toward a market-oriented economy. GDP growth averaged 6.8% per year from 1997 to 2004 even against the background of the Asian financial crisis and a global recession, and growth hit 8% in 2005 and 7.8% in 2006.


Industry:
food processing, garments, shoes, machine-building.
Agriculture: paddy rice, corn, potatoes, rubber; poultry; fish.
Exports:
crude oil, marine products, rice, coffee, rubber.


Currency

Dông (VND; symbol ₫). Notes are in denominations of ₫500,000, 200,000, 100,000, 50,000, 20,000, 10,000, 5,000, 2,000, 1,000, 500, 200 and 100. Coins are in denominations of ₫5,000, 2,000, 1,000 and 500.

Currency Exchange

The US Dollar is the most favoured foreign currency. Australian, British, Japanese, Singaporean and Thai currency, as well as the Euro, can usually be changed in the larger cities; great difficulty may be encountered in trying to exchange any other currencies. There is a commission charge for changing money in banks.

Credit/Debit Cards and ATMs

An increasing number of outlets accept MasterCard and Visa. However, outside main towns and cities, it is wise to carry cash. There are ATMs in many major towns, but not everywhere.

Traveller’s Cheques

These are widely accepted in hotels and banks. To avoid  additional exchange rate charges, travellers are advised to take traveller’s cheques in US Dollars.

Currency Restrictions: Restrictions apply.

Banking Hours; Mon-Fri 0730/0800-1130 and 1300-1600.

Exchange Rate Indicators

money viet nam
vietnammoneyHTML clipboard

Date Apr 09
£1.00= ₫26,516.69
$1.00= ₫17,776.00
€1.00= ₫23,545.07
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