General Info

[Keeniu]

This was pulled from the Photo Gallery. What are you guys finding for rates on the USD? The offical State Bank of Vietnam quotes exchange rates 18, 932. But other banks around town are quoting between 19, 200-19, 500vnd per dollar. I went and exchanged money at the gold shop today and received 20, 900, but she would only buy $500, no more.

What are you guys getting and where?

Well, there was a 9% devaluation the next day, and the price she offered was smack on the money. Meaning the devaluation secret had 'leaked' and corrupt officials were lining their pockets. Don't have to be Einstein to figure which direction next.

[Keeniu]

Vietnam has devalued its currency for the third time in a year. The dong fell 9. 3 percent Friday, bringing the.

Official exchange rate to 20, 693 from 18, 932 per U. S dollar.

Can somebody post Todays 'gold shop' rate.

What this means. Use gold shop to exchange your money. As a tourist you were being fleeced. More devaluations are on the way as sure as the sun rises in the morning.

Based on pussy prices, P2P action, beer at bar prices, and other essentials I'd say they have another 20% to go, easy. High spending Tourists with money has tanked, restaurants are empty. I'd say their offensive Visa fee ($75-$125) is why 80% of tourists say no to Vietnam and head to Thailand or Cambo instead.

Will this devaluation lead to a J curve. No. It is a S bend like in toilet. Vn action is just too difficult, so I am already booked for LOS in a few months. I go for a holiday, not bargaining sessions I cannot win.

The corruption taxes and payoffs. This is not a preferred mongering destination.

[Alwayshard45]

DTDD? What does it mean?

DTDD is the Vietnamese abbreviations for cellphones. DTDD = Dien thoai di dong, of course it's missing the stress marks, but thats what it stands for.

[Milkweed]

most of the action is simply done by DTDD. I'd guess that is 80% of the action nowadays.

JD

DTDD? What does it mean?

[Johndao]

Anybody have a report on this? I've gone by that area a few times now and I didn't see the hotspot.

BTW I ride through Nguyen Chi Thanh, D5 regularly and I think the quality is lower these days. Haven't bothered with anything for there for a while.

This area was a hot spot (very) but only for a short time, about 2 months ago or so. Nothing there now. I've no idea why, although I can make a guess.

Totally agree about Ng Chi Thanh, haven't pulled but one from there in the last year or so. The goal is to drive everything inside and to fixed locations where fees can be be readily collected and records kept. Opposite that, most of the action is simply done by DTDD. I'd guess that is 80% of the action nowadays.

JD

[Mik Hcmc]

Anybody have a report on this? I've gone by that area a few times now and I didn't see the hotspot.

That's because its NOT a hotspot.

I go by there daily, sometimes several times a day and there are only people waiting to get picked up by the bus, people selling items etc. There are several large companies nearby that may account for the people, This area is always busy.

[Milkweed]

Came across quite unexpectedly, a new (?) hotspot for SW (with a few moto girls thrown into the mix) while out riding on a lazy Sunday early afternoon:

Tran Quoc Hoan, Q Tan Binh.

Between Phan Thuc Duyet and the Cong Hoa / Hoang Van Thu circle.

From Q1, head towards the airport taking Nguyen Van Troi. When you get to the fork in the road by the sports complex / army base, you want to take the left fork (the right fork is Phan Dinh Giot and leads to the airport). At the next intersection make a left onto Tran Quoc Hoan, a 1-way street that connects with Cong Hoa. From this point until the Cong Hoa circus (a stretch of about 100 m) , there were at least 6-7 girls standing on the right side of the road by the bus stop, most with hat and face masks on, ready to ride. Totally unexpected busy market for SW at about 1 pm on a Sunday afternoon. Moto pimps are probably stationed nearby on the lookout. A few motogirls thrown in the mix. Busy traffic, could be either a good or bad thing.

Had to be somewhere, so did not partake. Perhaps someone would like to confirm this situation on a weekday afternoon? If not will likely revisit this weekend.

Anybody have a report on this? I've gone by that area a few times now and I didn't see the hotspot.

BTW I ride through Nguyen Chi Thanh, D5 regularly and I think the quality is lower these days. Haven't bothered with anything for there for a while.

[Mik Hcmc]

The rate at which I get debited for drawing money is VND 19, 250=1 USD when I use a Bank's ATM and my American Visa debit card. That seems to the the median Forex bank to bank rate. To avoid skimming use only an ATM inside a Bank.

It will take a while before the "skimmng" scam will catch on here, Bank cards and Credit Cards along with the use of ATM's are still a new thing here, Unlike TLD where skimming can be rampant.

Before you stick ya card into the ATM check the machine over, Just give a tug on the card slot overhang along with the area around where the card enters the ATM, If its firmly in place then you should be ok, Also check if theres a camera placed where they can focus in on the keypad.

Remember to cover your hand while entering your PIN etc etc, Same rules apply here for ATM use as back home, Numerous times you can see people using the ATM and making slow deliberate keypress's when entering their PIN's.

This is still a major cash country. You want to buy a motorbike you pay cash, I tried to use my CC but the dealer looked at me like I was from Mars.

I've been stuck behind people who can't workout how to use the magnetic strip on the card to open the door to the ATM booth and also to press the small round button to unlock the door to get out, not to mention people trying to jam their cards in backwards, upside down etc etc.

I recall back in Oz 1 or 2yrs back there was a big skimmng scam with the use of EFTPOS machines at McDonalds pretty much Australia wide.

[Kattar Puneri]

When trying to draw money in foreign countries one of the risks is always about the stealing of information by "skimming" the magnetic strip. One has to be careful.

The rate at which I get debited for drawing money is VND 19, 250=1 USD when I use a Bank's ATM and my American Visa debit card. That seems to the the median Forex bank to bank rate. To avoid skimming use only an ATM inside a Bank.

[Margaret Brown]

When trying to draw money in foreign countries one of the risks is always about the stealing of information by "skimming" the magnetic strip. One has to be careful.

The rate at which I get debited for drawing money is VND 19, 250=1 USD when I use a Bank's ATM and my American Visa debit card. That seems to the the median Forex bank to bank rate. To avoid skimming use only an ATM inside a Bank

[Clixtox]

At this gold shop.

The best place to find the most advantageous foreign exchange rates are in the jewelry stores that specialize in 24 carat GOLD. These stores mostly are money exchangers although they also sell and buy gold jewelry, coins and bars. I have found that the best FX place in Saigon is right across the street from the middle of the west side of the Ben Thanh Market, and on the north-east corner of the street heading west. "HA TAM" @ 2 Nguyen An Ninh. Look for local folks and a busy place.

[Alwayshard45]

The current exchange rate on the black market (ie jewelry stores) is $1 = 20350VND - 20500 VND.

This was pulled from the Photo Gallery. What are you guys finding for rates on the USD? The offical State Bank of Vietnam quotes exchange rates 18,932. But other banks around town are quoting between 19,200-19,500vnd per dollar. I went and exchanged money at the gold shop today and received 20,900, but she would only buy $500, no more.

What are you guys getting and where?

[Raverboy]

Theres a new one opened up. Have you been there?

If you mean 'new' as in 'newly renovated' from an existing old one, yes. If you mean 'completely new' then no. But then again, I visit 'new' ones all the time. Hard to keep track of what's 'new' anymore...

[Mik Hcmc]

Yes, that's where I was headed when I passed the 'new SW hotspot'.

Theres a new one opened up. Have you been there?

[Raverboy]

There's no need for me to go pick up SW's when I can visit the barber shops and pick from a lineup a nice clean looking girl, shower in a nice safe aircon room and bang away to my hearts content whilst sipping on a nice cold bevy...

Yes, that's where I was headed when I passed the 'new SW hotspot'.

I like to throw in an SW or 3 to the mix though... makes for interesting times... As for someone banging on the door yelling about a police check - never happened to me before. Besides, I'm sure they won't target the innocent and kind-hearted foreigner who speaks little-to-no Vietnamese who just happened to offer a ride to a poor hitchhiker girl, both of whom mutually consented to payment in kind.