The State Bank of Vietnam affirms that the information regarding the planned elimination of banknotes with denominations from 1.000 to 5.000 VND is inaccurate and lacks legal basis.
Because many people need to exchange banknotes for smaller denominations to give as lucky money during the Lunar New Year, this service has appeared everywhere in the market and on online marketplaces.
Buying and selling banknotes with attractive serial numbers is not a new phenomenon in the market, but many people wonder whether this practice violates the law.
With the Lunar New Year 2021 approaching, the activity of exchanging new banknotes and small denominations is very "hot" on social media, along with many traps if consumers are not careful.
In preparation for the 2021 Lunar New Year, services for exchanging small denominations and new banknotes are once again bustling on online marketplaces, with exorbitant fees.
As the Lunar New Year approaches, the market for exchanging old banknotes for new ones and lucky money becomes increasingly bustling, and along with that, the exchange fees also increase significantly.
As the Lunar New Year of the Rat approaches, the demand for exchanging small denominations of money intensifies. People are not only going to banks but also flocking to temple gates to exchange money, despite the exorbitant exchange fees.
As Tet approaches, the demand for exchanging small denominations of money intensifies, and prices in the black market in Hanoi are skyrocketing every day.
Even though the Lunar New Year is still more than a month away, money exchange services are already bustling, with some places charging exorbitant fees of up to 400%.
While the exchange fee for 1.000, 2.000, and 5.000 dong notes on the "black market" is 10-12%, the fee for 500 dong notes can reach as much as 150% in some places.
In recent days, the number of visitors flocking to temples and pagodas for worship has increased sharply, making the service of exchanging small denominations of money busier than ever, with exorbitant fees.
Having to exchange money for smaller denominations at Hanoi train station, this passenger then sent a direct message to the Minister of Transport, Dinh La Thang.
Muốn đổi tiền mệnh giá 200 đồng, khách phải trả gấp đôi (2 ăn 1), 500 đồng thì 1 ăn 1; còn với mệnh giá 10.000 đồng, phí chỉ 6-8% nhưng không có đủ để cung ứng.