Dalạt is a city in southern Vietnam’s Central Highlands, which is a popular destination for travelers. If you will get short of local currency (Vietnamese Dong – VND) while visiting Dalat, you can withdraw from ATM or exchange foreign currency. Let’s check how good (or bad) are the currency exchange rates in Dalat.
It is still possible to use US Dollars for payments in Vietnam in many cases but paying in Vietnamese Dong normally is significantly cheaper as the vendors are normally converting prices at much worse rate than you could get for your money when exchanging it at the bank or another money changer.
Dalat Money Changers
In Dalat you can exchange your money at one of the banks operating here. Finding one in the central part of the city shouldn’t be a problem as there are several of them.
Another popular place to exchange currency in Dalat is gold shops. Gold shops in Vietnam are normally offering the best exchange rates.
Best Dalat Money Changer
One of the best money changers in Dalat is a jewelry shop called Tiem Vang: Kim Hoa MINH (111 Ba Thang Hai, Phuong 1, Dalat).
On the day when the banks were offering about 23100-23110 VND for 1 US Dollar, the gold shop managed to offer 23160 VND. The difference is just about 0.2% so it’s hardly worth to go there intentionally if you have a bank nearby. However, you can save much more when exchanging other currencies like Euro or British Pounds as the banks in Dalat offer competitive exchange rate only for USD.
Exchange at Dalat Vietinbank
As we were exchanging just few US Dollars and it was quite far from our hotel to the gold shop mentioned above, we went to Dalat branch of Vietinbank to exchange money.
Vietinbank in Dalat is very easy to notice as the bank is located nearby the lake, close to the night market. Address of the branch: 01, Le Dai Hanh, Phuong 1, Dalat.
Before you go to exchange money at Vietinbank, you should know the following:
- You must bring your passport or ID card.
- Banknotes need to be in nearly perfect condition, otherwise they might be refused to exchange (our USD bills were fine but this issue seems to be quite common here).
- Bank is open only until 11:30 on Saturdays and closed on Sundays.
Vietinbank in Dalat is offering exchange of these foreign currencies:
- USD - US Dollar
- EUR – Euro
- GBP – British Pound
- JPY – Japanese Yen
- AUD – Australian Dollar
- CAD – Canadian Dollar
- SGD – Singaporean Dollar
- NZD – New Zealand Dollar
Currency Exchange Rates in Dalat
How good or bad currency exchange rates in Dalat Vietinbank were during our visit? Let’s compare them to the mid-market rate of foreign currencies against Vietnamese Dong.
USD exchange rate
The mid-market USD exchange rate at the time of our visit was 23,211 VND for 1 US Dollar, so the rate offered by Vietinbank (23,106 VND/USD) was by 105 VND or by about 0.45% lower than the mid-market exchange rate. It’s a really good exchange rate even if you can still a better one at the gold shop.
Be noted that the best exchange rate is offered only for large US Dollar notes (50 – 100 USD). Smaller notes were exchanged at the rate that was lower by 10 VND.
Actually we’ve got slightly better exchange rate than displayed on the printed list of exchange rates as it was about 1.5 hour old. Don’t be surprised if it will happen as exchange rates change faster and more frequently than they manage to print them.
EUR exchange rate
The mid-market EUR exchange rate during our visit was 25,543 VND for 1 Euro, so the exchange rate offered at the bank in Dalat (24,923 VND/EUR) was by 620 VND or by about 2.4% lower than the mid-market rate.
Euro exchange rate was worse than USD exchange rate that can be expected as it is normal in Vietnam. However, the difference shouldn’t be that significant and at the gold shop you can expect to get much better deal.
Like with US Dollars, for smaller Euro notes (less than 50 EUR) slightly lower exchange rate is given.
GBP exchange rate
The mid-market GBP exchange rate at the time was 30,045 VND for 1 British Pound, so the exchange rate offered by Vietinbank (28,981 VND/GBP) was by 1,064 VND or by about 3.5% lower than the mid-market exchange rate.
AUD exchange rate
The mid-market AUD exchange rate during our visit was 15,726 VND for 1 Australian Dollar, so the exchange rate offered by the bank in Dalat (15,239 VND/AUD) was by 487 VND or by about 3.1% lower than the mid-market rate.
CAD exchange rate
The mid-market CAD exchange rate at the time was 17,472 VND for 1 Canadian Dollar, so the exchange rate offered at the bank (16,970 VND/CAD) was by 502 VND or by about 2.9% lower than the mid-market rate.
SGD exchange rate
The mid-market SGD exchange rate at during our visit was 17,002 VND for 1 Singapore Dollar, so the exchange rate offered by Vietinbank (16,496 VND/SGD) was by 506 VND or by about 3% lower than the mid-market rate.
NZD exchange rate
The mid-market NZD exchange rate at the time was 14,906 VND for 1 New Zealand Dollar, so the exchange rate offered at the bank (14,478 VND/NZD) was by 428 VND or by about 2.9% lower than the mid-market rate.
JPY exchange rate
The mid-market JPY exchange rate during our visit was 212.54 VND for 1 Japanese Yen, so the exchange rate offered by Vietinbank in Dalat (209.51 VND/JPY) was by 3.03 VND or by about 1.4% lower than the mid-market rate.
Where to exchange money in Dalat?
Well, if you are bringing US Dollars, you can exchange them at the bank or at the gold shop as the difference between the rates offered will hardly be noticeable. Just find the nearest reputable money changer and you will be good.
When it comes to other foreign currencies, such as Euro, British Pounds, Australian Dollars and others, exchanging money at the gold shop would be recommended. Otherwise, you can exchange money before reaching Dalat, especially when flying there from Ho Chi Minh City (really good exchange rates are offered by money changers at Ho Chi Minh Airport).