Currency exchange fee

The State Bank of Vietnam responds to information regarding the distribution of small denomination banknotes.

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.

As Tet approaches, the fee for exchanging small denominations of money is skyrocketing.

As Tet approaches, the demand for exchanging small denominations of money intensifies, and prices in the black market in Hanoi are skyrocketing every day.

Exchanging 500 dong in small denominations incurs a 150% fee.

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.

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