MYR to VND Travel Money Compared

Currency Guide for Vietnam (VN)

For a mid-range traveler planning a one-week stay in Vietnam, a budget of approximately $500 to $700 USD should suffice to cover a comfortable yet economical experience. This allowance would typically enable you to enjoy local cuisine, explore popular attractions, and engage in leisure activities without splurging excessively. Below is a brief overview of daily expenses in the local currency, the Vietnamese Dong (VND):

• 🍽️ Meal at a local restaurant: 50,000 - 100,000 VND ($2.10 - $4.20)
• ☕ Coffee: 30,000 VND ($1.26)
• 🚍 Public transport fare: 7,000 - 20,000 VND ($0.30 - $0.85)
• 📱 Prepaid SIM card: 100,000 VND ($4.20)
• 🏨 Budget hotel or Airbnb: 400,000 - 700,000 VND ($17 - $29)

Overall, Vietnam is considered a cheap travel destination, especially when compared to the United States and Australia. In contrast, a similar mid-range trip in the United States may cost around $1,500 to $2,000 USD, primarily due to higher accommodation and dining prices. Compared to Australia, travelers can expect around $1,200 for a week-long stay in mid-range establishments. Thus, visiting Vietnam offers significant savings while still enjoying a rich cultural experience.

Expat Living Costs and Money Management in Vietnam

For expats living in Vietnam, the typical monthly living costs can vary widely based on lifestyle choices, but a reasonable estimate would fall between 15,000,000 - 25,000,000 VND ($630 - $1,050 USD). This budget usually covers rent for a modest apartment, utilities, groceries, transportation, and entertainment. When it comes to banking and money management, expats are advised to use local banking services. ATMs are widely available but check foreign transaction fees from your bank when using cards. It's generally more cost-effective to use a mix of local currency for daily expenditures while keeping some savings in online transfer services like Wise or OFX, which offer better exchange rates compared to traditional bank transfers. For those considering whether to exchange money locally or utilize online services, banking locally can be advantageous for day-to-day transactions, while online services are recommended for larger transfers, as they tend to provide more favorable rates and lower fees.