Vietnam & Laos: US Dollars versus Local Currency
Feb 4th, 2009, 11:31 AM
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Vietnam & Laos: US Dollars versus Local Currency
My husband and I are counting down the hours til Sunday Feb 8 when we leave for Vietnam and Laos. Thanks as always to all you regular posters for the invaluable info you provide. I’ve been lurking/planning the trip for about a year and this is the first question I’ve had to ask! I know that US dollars are widely accepted in both countries and I swear at some point I saw a recommendation for how much USD to take, i.e. $100 worth of $1’s, $100 worth of 5’s, etc. But I can’t seem to find that post now so wanted to ask for advice on how much USD to pack versus how much local currency to get on arrival.
Here is more info to help answer my question.
3 nights Hanoi (Sofitel Metropole)
2 nights Luang Prabang (Les 3 Nagas)
2 nights Hue (La Residence)
2 nights Hoi An (Life Heritage)
3 nights HCMC (Park Hyatt Saigon)
We have prepaid for hotels, airport transfers and tours. Most days we’ll have a private guide and driver (prepaid other than tips.) We’ll need cash for the following: tips for drivers/guides/bellmen; food at restaurants; taxis to restaurants (if not in walking distance); shopping for crafts; visa fees; airport taxes.
We like nicer restaurants and if it makes sense we’ll use a credit card to pay for higher ticket meals. Breakfasts at hotels are prepaid but we’re on our own for most lunches and all dinners.
We typically try to find an ATM at the airport upon arrival in each new city. We’re happy to use local currency, especially since I understand about the exchange rate benefits, but don’t want to withdraw too much. But also don’t want to carry around thick wads of USD that go unused.
I welcome any guidance on how much USD to pack, and which USD denominations are most useful, and how much local currency to have on hand, and when it’s most useful to pay in local currency vs USD.
Thank you so much!
Beth
Here is more info to help answer my question.
3 nights Hanoi (Sofitel Metropole)
2 nights Luang Prabang (Les 3 Nagas)
2 nights Hue (La Residence)
2 nights Hoi An (Life Heritage)
3 nights HCMC (Park Hyatt Saigon)
We have prepaid for hotels, airport transfers and tours. Most days we’ll have a private guide and driver (prepaid other than tips.) We’ll need cash for the following: tips for drivers/guides/bellmen; food at restaurants; taxis to restaurants (if not in walking distance); shopping for crafts; visa fees; airport taxes.
We like nicer restaurants and if it makes sense we’ll use a credit card to pay for higher ticket meals. Breakfasts at hotels are prepaid but we’re on our own for most lunches and all dinners.
We typically try to find an ATM at the airport upon arrival in each new city. We’re happy to use local currency, especially since I understand about the exchange rate benefits, but don’t want to withdraw too much. But also don’t want to carry around thick wads of USD that go unused.
I welcome any guidance on how much USD to pack, and which USD denominations are most useful, and how much local currency to have on hand, and when it’s most useful to pay in local currency vs USD.
Thank you so much!
Beth
Feb 4th, 2009, 05:59 PM
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In all of the countries you are visiting, you will want to use the local currency. The only country in SE Asia where dollars are preferred is Cambodia.
Use ATMs to withdraw currency. I do always carry a couple of US$100 bills to exchange just in case, but you'll have no need for smaller bills. One exception: in Luang Prabang where you will only really have one day (two nights) take one or two twenty dollar bills to exchange. You will need very few kip, and they are worthless outside of Laos (just as the dong is worthless outside of VN).
By the way, I hope you got a multiple entry VN visa.
Use ATMs to withdraw currency. I do always carry a couple of US$100 bills to exchange just in case, but you'll have no need for smaller bills. One exception: in Luang Prabang where you will only really have one day (two nights) take one or two twenty dollar bills to exchange. You will need very few kip, and they are worthless outside of Laos (just as the dong is worthless outside of VN).
By the way, I hope you got a multiple entry VN visa.
Feb 4th, 2009, 06:26 PM
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I second what Kathie says....
In Luang Prabang they have limited ATM machines...and the few they have often are not working. So take extra cash to exchange. You can exchange currency (dollars, dong, etc) at a variety of locations. Thus I suggest you make sure you have cash when arriving at LP ($50 or $20 bills or even 500,000 dong notes) so you can exchange it in smaller amounts as you need it. As she says, you don't want to have any kip left over when you leave.
ATM's in Vietnam are everywhere, so you should have no problems using your card to obtain dong.
Have a GREAT time..... My body is in the US, but I left my heart in Vietnam!
In Luang Prabang they have limited ATM machines...and the few they have often are not working. So take extra cash to exchange. You can exchange currency (dollars, dong, etc) at a variety of locations. Thus I suggest you make sure you have cash when arriving at LP ($50 or $20 bills or even 500,000 dong notes) so you can exchange it in smaller amounts as you need it. As she says, you don't want to have any kip left over when you leave.
ATM's in Vietnam are everywhere, so you should have no problems using your card to obtain dong.
Have a GREAT time..... My body is in the US, but I left my heart in Vietnam!
Feb 5th, 2009, 01:36 PM
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Bniemand: Thanks for the Saluzzo info on the Europe board!
I don't remember using many dollars in Vietnam except for the tips to the driver and guides, and for a big-ticket purchase I made in Saigon.
Virtually all of the "restaurants" as opposed to the sidewalk places, will take credit cards--even the chains like Pho24 take them. But there were a few times that I either could not find an ATM or did not want to walk to one. At those times, US currency is good to have to change at the hotel. Of course the rate will not be as good, but if you only change $20 or so, the convenience is worth it--to me.
Remember I was in Laos early last year and the dollar has fallen since then and is perhaps not as desirable now as it was then. I took about $40 total in dollar bills and used these for shopping and tuk tuk rides in LP. I also paid my guide in US dollars, as he requested. I had many singles leftover after I left Laos.
All this is a long-winded way of saying that I probably took along, in addition to the single dollar bills, about $US200 in 20s (10 20s); about $500 in 100s and 50s. I was away for about month, remember. And I like to shop! You certainly do not need to take all that cash along.
When I finish my report (!!) very soon, you will see that I used almost $300US in US currency on my big purchase in Saigon. If you plan to shop you will often get better rates for cash and in this instance, I got a better deal paying in dollars.
Have a fantastic time! Please come back with any further questions before you leave, too.
I don't remember using many dollars in Vietnam except for the tips to the driver and guides, and for a big-ticket purchase I made in Saigon.
Virtually all of the "restaurants" as opposed to the sidewalk places, will take credit cards--even the chains like Pho24 take them. But there were a few times that I either could not find an ATM or did not want to walk to one. At those times, US currency is good to have to change at the hotel. Of course the rate will not be as good, but if you only change $20 or so, the convenience is worth it--to me.
Remember I was in Laos early last year and the dollar has fallen since then and is perhaps not as desirable now as it was then. I took about $40 total in dollar bills and used these for shopping and tuk tuk rides in LP. I also paid my guide in US dollars, as he requested. I had many singles leftover after I left Laos.
All this is a long-winded way of saying that I probably took along, in addition to the single dollar bills, about $US200 in 20s (10 20s); about $500 in 100s and 50s. I was away for about month, remember. And I like to shop! You certainly do not need to take all that cash along.
When I finish my report (!!) very soon, you will see that I used almost $300US in US currency on my big purchase in Saigon. If you plan to shop you will often get better rates for cash and in this instance, I got a better deal paying in dollars.
Have a fantastic time! Please come back with any further questions before you leave, too.
Feb 5th, 2009, 01:40 PM
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Bniemand,
I'm sorry I can't help you but I was wondering if you could help me. We are planning a trip to Piedmont in Sept. and considering B&BBaur. Were you pleased with the B&B - it looks very nice on the site. Did you find the location good for exploring the area on day trips. Were you able to walk into town for dinner at night and if not how far a drive was it? My husband does not want to drive far at night. Thank you so much for any help you can give me.
Hope you have a wonderful trip.
Dac
I'm sorry I can't help you but I was wondering if you could help me. We are planning a trip to Piedmont in Sept. and considering B&BBaur. Were you pleased with the B&B - it looks very nice on the site. Did you find the location good for exploring the area on day trips. Were you able to walk into town for dinner at night and if not how far a drive was it? My husband does not want to drive far at night. Thank you so much for any help you can give me.
Hope you have a wonderful trip.
Dac
Feb 5th, 2009, 01:48 PM
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Hi dac,
I highly recommend Baur B&B. It is as beautiful as it looks on the website, and our stay there was one of the best travel experiences we've ever had due to the amazing hospitality of the owners Diana and Michael. The location is good for doing day trips around Piemonte. Walking to town? Hmmm, I suppose it is possible if you really want some good exercise, but I would not walk. The drive to town is only about 5 minutes, very easy drive.
I highly recommend Baur B&B. It is as beautiful as it looks on the website, and our stay there was one of the best travel experiences we've ever had due to the amazing hospitality of the owners Diana and Michael. The location is good for doing day trips around Piemonte. Walking to town? Hmmm, I suppose it is possible if you really want some good exercise, but I would not walk. The drive to town is only about 5 minutes, very easy drive.
Feb 5th, 2009, 02:02 PM
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Diana's blog (you can find a link to it from her B&B site) describes the renovation and additions they're doing. Will definitely be an even more amazing place when they're done.
Back to Vietnam...thanks Ekscrunchy for adding your thoughts about currency. Very helpful!
I'll try to be good and add a note to this post after my return about dollars versus dong. I've been using these forums for over 5 years now and have never managed to do a trip report, although I always have good intentions!
(And I'll check the Europe board to see if there's any more Piemonte questions I can help with!)
Back to Vietnam...thanks Ekscrunchy for adding your thoughts about currency. Very helpful!
I'll try to be good and add a note to this post after my return about dollars versus dong. I've been using these forums for over 5 years now and have never managed to do a trip report, although I always have good intentions!
(And I'll check the Europe board to see if there's any more Piemonte questions I can help with!)
Feb 5th, 2009, 02:13 PM
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on the trip I went on to Vietnam for 10 days we were asked to take $150 US in small denominations ie 1 and 5. At that time some places preferred to take local currency rather than foreign currency how ever tips were given in small US money in most places.The most you could get out of an ATM at that time was the equivalent of $120. Maybe that's changed now.
Feb 27th, 2009, 10:50 AM
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OK, I'm back from my trip and as promised here are my findings about currency.
We took:
$50 in $1s
$150 in $5s
$100 in $10s.
We used almost all of it. We found the dollar was accepted everywhere in both Vietnam and Laos. In fact in some places it seemed expected to pay in dollars and we had to ask for prices in Dong. (Obviously these were more touristy places.)
The most important time to have dollars is to pay for Visas on arrival. In Vietnam, since we had multiple entry Visas (and the letter where you pick up your Visa on arrival) we had to pay $50 per person instead of $25 per person. In Laos the fee is $35 per person. So the Visas ate up a lot of our cash.
Upon arrival in each new city we found an ATM in the airport and extracted local currency. This seemed especially important in Luang Prabang after reading how the ATMs in town are often empty. The airport ATM worked fine at 10:00am. I don't recall how much Kip we got but we made sure to use it all up before leaving Laos.
Our guide in Hanoi told us many guides prefer dollars.
By mid trip our dollars were running low so we started using Dong exclusively.
Most restaurants listed their prices on the menu in Dong, but when they presented the bill the total was given in both Dong and Dollars, and sometimes Euros.
Credit cards were also accepted at most shops and restaurants and we used one for a few larger ticket meals and souvenir purchases.
So I'm curious and have a question for anyone out there who understands the Vietnamese economy (and perhaps the intertwined political situation.) The dollar is accepted and we were never discouraged from using it, just as we were never pushed to use the Dong. But I found myself wondering if the dollars flowing into the country are bad for their economy in some way? Or is any money good money and they're just happy to be making it?
We took:
$50 in $1s
$150 in $5s
$100 in $10s.
We used almost all of it. We found the dollar was accepted everywhere in both Vietnam and Laos. In fact in some places it seemed expected to pay in dollars and we had to ask for prices in Dong. (Obviously these were more touristy places.)
The most important time to have dollars is to pay for Visas on arrival. In Vietnam, since we had multiple entry Visas (and the letter where you pick up your Visa on arrival) we had to pay $50 per person instead of $25 per person. In Laos the fee is $35 per person. So the Visas ate up a lot of our cash.
Upon arrival in each new city we found an ATM in the airport and extracted local currency. This seemed especially important in Luang Prabang after reading how the ATMs in town are often empty. The airport ATM worked fine at 10:00am. I don't recall how much Kip we got but we made sure to use it all up before leaving Laos.
Our guide in Hanoi told us many guides prefer dollars.
By mid trip our dollars were running low so we started using Dong exclusively.
Most restaurants listed their prices on the menu in Dong, but when they presented the bill the total was given in both Dong and Dollars, and sometimes Euros.
Credit cards were also accepted at most shops and restaurants and we used one for a few larger ticket meals and souvenir purchases.
So I'm curious and have a question for anyone out there who understands the Vietnamese economy (and perhaps the intertwined political situation.) The dollar is accepted and we were never discouraged from using it, just as we were never pushed to use the Dong. But I found myself wondering if the dollars flowing into the country are bad for their economy in some way? Or is any money good money and they're just happy to be making it?
