FN3. Vietnam Dong

 This is the time to decide whether to exchange RM with USD and use USD to buy VND in Vietnam or directly buying VND in Malaysia.  Here is what I gathered;

1. Exchange rate from my money master (MMM)

1 mill VND = RM152 (buying), RM163 (selling)

Say I want to buy 4 mill VND, it will cost me;

RM163 x 4 = RM652

Yup, I use the selling rate because MMM is selling VND to me.

Keep this in mind, for comparison later.

Source: My Money Master

So I will have 4 mill VND in my hand now.  Let's use method 2.

2. Buy USD

With the USD I have, I will use to buy 4 mill of VND in Vietnam.  If I buy USD I will get;

(Rate: 1 USD = RM3.27 (wow the USD is strengthening ha))

RM652/RM3.27 = USD 199.4

Source: My Money Master

3. Buy VND in Vietnam using USD

(Rate:1 USD = 21200 VND)

21200 x 199.4 = 4227033.6 VND

Source: The state bank of Vietnam (SBV)

4. The difference.

I wouldn't call this profit as yet, but look,

Item 3 - Item 1 = 4227033.6 - 4000000

= 227033.6 VND

Now I would call this profit.  How much is this in RM?

0.2270336 x 163 = RM37

meagre...meagre...............

Hmm.....does it worth the trouble?

The good news is that USD is widely accepted in Vietnam, but again, will it be convenient to buy t-shirt using USD?

Decision decision....