Strong dollar makes Vietnam top destination for Americans - VnExpress International (2024)

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How strong is the US dollar in Vietnam? ›

1 USD = 25,442.059424 VND Jun 12, 2024 23:37 UTC

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And one way of doing that is to have a strong dollar.” The strong dollar also benefits Americans traveling abroad, especially to countries that have seen their currencies weaken the most against the U.S. dollar. Take Japan. The yen has fallen to a 30-plus-year low against the dollar.

Monthly USD exchange rate against currency of 55 economies in Big Mac Index 2023-2024. One United States dollar was worth over 15,000 Indonesian rupiah in March 2024, the highest value in a comparison of over 50 different currencies worldwide.

Vietnamese Dong is the best currency to use with no doubts. Most payments are made in Vietnamese Dong, but US dollars can be directly used for some hotels, restaurants, tours, or other services. You may see the prices for food, drinks, and souvenirs in Ho Chi Minh City's airport are all in US dollars.

A strengthening dollar means U.S. consumers benefit from cheaper imports and less expensive foreign travel. U.S. companies that export or rely on global markets for the bulk of their sales are financially hurt when the dollar strengthens.

“And usually, when the dollar strengthens, it makes it much harder to get new loans in dollar terms.” Also, a stronger dollar makes it harder for countries to keep investments local. Rising interest rates have made parking money in the United States particularly attractive.

In short, a stronger U.S. dollar means that Americans can buy foreign goods more cheaply than before, but foreigners will find U.S. goods more expensive than before. This scenario will tend to increase imports, reduce exports, and make it more difficult for U.S. firms to compete on price.

Japan continues to be a popular choice, but Vietnam and South Korea stand as solid alternatives among numerous countries in Asia with favorable exchange rates for the US dollar. Closely following in value are South American countries: Argentina and Chile are among those offering the biggest luxury bang.

What country is 1 USD worth the most? ›

What country is a dollar worth most? Some of the countries where a dollar is worth the most money include Mexico, Peru, Chile, and Colombia. It's possible to exchange dollars for local currency in these countries at favorable exchange rates.

Iran's official currency, the Iranian Rial (IRR), is currently the world's least valuable currency, with 1 Indian Rupee (INR) equaling 503.97 IRR. This depreciation is primarily influenced by political unrest, the lasting effects of the Iran-Iraq war, and the country's nuclear programme.

Your $100 can go a long way in Vietnam. Budget travelers can expect to spend up to $25 a day on food and lodging. Middle-budget spenders can enjoy good restaurant food, hire cabs, and stay comfortably in good hotels for about $35-65 a day.

Typically, the average cost for a dinner in Vietnam ranges from around 50,000 VND to 200,000 VND per person. Having dinner at home or at local restaurants is more affordable compared to upscale restaurants. Vietnam not only offers affordable dining options but also stands out as a paradise for budget-friendly travel.

Vietnam. “If you're looking to travel on a budget,” Choat says, “[Vietnam] is one of the best spots. The major travel essentials—accommodation, food, and public transport—are all fairly affordable, so you may even end up spending much less than you'd think.”

According to Knight Frank's report, in order to be included in the 1% richest people in Vietnam, one needs to have assets worth at least US$160,000. For Monaco, which has the world's densest population of super-rich, the entry point for the principality's branch of the 1% club is US$7.9 million.

Travelling in Vietnam works for all types of budget. If you're on a tight budget, don't worry as Vietnam can be super cheap. For those with a higher budget, you can enjoy the extremes of luxury, still without having to spend a lot.

In Vietnam, for example, the burger costs 69,000 dong. Although that sounds like an awful lot, you can get a lot of dong for your dollar and, therefore, a lot of bang for your buck in Vietnam. You can buy 69,000 dong for only $3 on the foreign-exchange market.