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Sunday, March 31, 2013

Vietnam Dong Currency Conversion

Here's how I bargain for prices when I travel to Vietnam.
First, I checked on the Internet and establish that :
10,000 VND = RM 1.48

VND <-> RM
10,000 VND = RM 1.48
Formula (1) VND x 0.0001 x 1.48
Formula (2) VND x 0.000148
Formula (3) VND / 10,000 x 1.48

By using Formula (2), 200.000 VND is equivalent to 200.000 x 0.000148= RM 29.60
So when they offered me a price in VND, I try to convert it back to RM by multiplying the amount using 0.000148

RM <-> VND
10,000 / 1.48 = 6750
Formula (1) RM x 10,000 x 0.675 = VND
Formula (2) RM x 6750 = VND

By using Formula (2), RM20 is equivalent to 135.000 VND
So let's say they ask me to offer a price, I thought the item should not exceed RM50, so by multiplying RM x 6750, I get VND 337.500

For easy reference of notes:

VND 500.000 = VND 500,000.00 = RM 74.00
VND 200.000 = VND 200,000.00 = RM 29.60
VND 100.000 = VND 100,000.00 = RM 14.80
VND 50.000 = VND 50,000.00 = RM 7.40
VND 20.000 = VND 20,000.00 = RM 2.96
VND 10.000 = VND 10,000.00 = RM 1.48
VND 5000 = RM 0.74
VND 2000 = RM 0.296
VND 1000 = RM 0.148
VND 500 = RM 0.074
VND 200 = RM 0.0296