Illegal foreign currency transactions rampant in Danang
  • | | August 23, 2019 08:03 AM
Many shops in Han Market, Danang City, have been found to be illegally offering foreign currency trading for tourists.


Illegal foreign currency transactions in Danang

A seller in Han Market received Thai baht from tourists without question. After being asked whether her shop trades in foreign currency, the seller denied the accusation and said that the tourists couldn't exchange the money. However, when a group of Chinese tourists arrived, the seller continued receiving the Chinese yuan. The shop even had a drawer full of foreign currency to give change to tourists.

Vo Minh, director of of the State Bank of Vietnam in Danang said in accordance with the regulations, only the Vietnam dong could be used for transactions inside Vietnam. Tourists must exchange their money into Vietnam dong at approved agencies and commercial banks.

"Most banks in Vietnam can exchange money for tourists. There are also 48 agencies that have been allowed to carry out foreign currencies exchanges at hotels, airports and entertainment areas," Minh said.

Shops that carried out transactions in foreign currencies were operating illegally and would face a hefty fine if they are caught. The Department of Tourist has issued guidance for tourists on how to exchange money when arriving in Vietnam. Minh said they had also raised this problem via the media.

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