2026 Ho Chi Minh City Currency Exchange Guide: New Regulations in Effect, Can Phan Thiet Market Pawnshops Still Exchange Money? Recommended Legitimate Exchange Shops in District 1

Introduction: Why should you pay special attention to currency exchange in Ho Chi Minh City in 2026?

Many travelers arriving in Ho Chi Minh City first look for the best exchange rates to convert Vietnam Dong. In the past, the so-called "sacred places" for currency exchange were usually a few well-known gold shops opposite Bến Thành Market. However, with the Vietnam government implementing stricter foreign exchange management regulations in 2026, many travelers are asking: "Can I still exchange money at gold shops now?" "Are Hà Tâm and Mai Vân opposite Phan Thiet Market still open?" This article will provide a detailed analysis of how the latest regulations impact these stores, their current status, and recommend three legal, highly favorable exchange shops.

2026 Vietnam Currency Exchange Regulations: Critical Penalties You Must Know

Decree No. 340/2025/NĐ-CP issued by the Vietnam government officially took effect on February 9, 2026. This new regulation aims to stabilize the foreign exchange market and curb illegal money laundering, imposing severe penalties on illegal foreign currency exchange activities.

First, exchanges must be conducted at authorized institutions. Travelers are only allowed to exchange currency at banks or establishments holding a "Legal Foreign Currency Exchange License” (Đại lý thu đổi ngoại tệ). Previously, informal street gold shops, silver stores, or private stalls without licenses were illegal. Second, licensed agents can only buy foreign currency from travelers (converting USD, TWD, HKD into VND); they cannot exchange VND back into foreign currency and return it to travelers. If you need to convert unused VND back into foreign currency, you must go to the exit controls at the international airport or land border crossing counters.

If illegal currency exchange at unauthorized locations is caught, not only the shop owners will be penalized, but travelers involved will also face severe fines. For transactions below $1,000, warnings or fines ranging from 10 million to 20 million VND (approx. NT$13,000 to 26,000). For transactions between $1,000 and $10,000, fines of 20 million to 30 million VND. For $10,000 to $100,000, fines of 30 million to 50 million VND. Exceeding $100,000 could incur fines up to 100 million VND. The most severe penalty is "confiscation": besides hefty fines, the government has the authority to confiscate all cash involved in illegal transactions. It is definitely not worth risking having your funds wiped out just to save a small exchange fee!

Current Status of Phan Thiet Market’s Well-Known Currency Exchange Shops (2026 Edition)

When talking about currency exchange in Ho Chi Minh City, almost all guides point to two long-established gold shops directly opposite the west entrance of Bến Thành Market: Hà Tâm and Mai Vân. These two shops face each other and are renowned for their excellent rates, making them the top choice for travelers from China, Hong Kong, and Taiwan. Due to the impact of the new 2026 regulations, many travelers are asking on social media whether these shops have closed.

Based on the latest on-site reports and online discussions, Hà Tâm and Mai Vân are still operating, and both have obtained legal exchange licenses. Before the regulations took effect (January 2026), many unlicensed silver shops temporarily suspended currency exchange operations, causing market panic. However, large and longstanding shops like Hà Tâm and Mai Vân have successfully applied for legal licenses and continue to serve travelers. As a result of the new regulations, exchanges now may require showing your passport, and large transaction reviews are more stringent than before. Remember to bring your passport.

Recommendations for 3 Legitimate and Highly Favorable Exchange Shops in District 1

To provide more safe and legal currency exchange options in District 1, the following are three licensed shops with highly competitive rates:

1. Hà Tâm (河心銀樓) — Top choice at Phan Thiet Market

As one of Ho Chi Minh City’s most famous currency exchange landmarks, Hà Tâm typically offers the best rates in town. They accept multiple currencies including TWD, HKD, RMB, USD, etc., for direct exchange. Address: 2 Đ. Nguyễn An Ninh, Phường Bến Thành, Quận 1 (search "Hà Tâm" on Google Maps). Phone: (028) 3823 7243. Business hours: 08:00–19:00, open daily. Advantages: best rates, accepts multiple currencies, excellent location right next to Phan Thiet Market.

2. Mai Vân (梅雲) — Great backup with avoiding queues

Located directly across from Hà Tâm, also a historic licensed exchange point, clearly marked with “Đại Lý Thu Đổi Ngoại Tệ” (Legal Foreign Currency Exchange Agent). When Hà Tâm is crowded, simply turning around to Mai Vân can save a lot of time, with only minimal rate differences. Address: 1A Đ. Nguyễn An Ninh, Phường Bến Thành, Quận 1. Phone: 028 3823 1836. Business hours: 08:00–20:00, Monday–Saturday. Advantages: quick processing, stable rates, good service attitude.

3. Currency Exchange Agency 59B (Đồng Khởi Street) — Authorized exchange in the city center

Located at 135 Đồng Khởi, the busiest street in Ho Chi Minh City, with a clear sign “Bàn Thu Đổi Ngoại Tệ Số 59B — Authorized Exchange Bureau No. 59B”, licensed by Eximbank, making it one of the most convenient legal exchange points in District 1. The location is very accessible, next to CHAGEE Tea Shop, with many high-end hotels and shopping centers nearby. Address: 135 Đồng Khởi, Bến Nghé, Quận 1. Business hours: 07:00–22:00 daily. Advantages: bank-licensed, fully legal, long hours, prime location (central Đồng Khởi street).

Tips for Currency Exchange: How to Get Better Rates?

Use new, large denomination USD bills: in Vietnam, the best exchange rate is usually for fresh $100 bills! Smaller denominations like $50, $20 or less tend to have worse rates. Also, bills should be free of folds, stains, marks, or damage; otherwise, shops may refuse them or offer poor rates. Bringing your own TWD or HKD is also fine: at the recommended shops, NT$1000 bills or HKD are highly liquid and have good rates. If you prefer not to exchange USD domestically (to avoid transaction fees), you can directly bring your home currency to exchange. Count the money in front of the teller and leave only after confirming the amount is correct. Shop around: although these shops are reputable and legal, rates fluctuate hour by hour. For large amounts, it's advisable to compare several places and choose the best rate.

Conclusion

By complying with the 2026 new currency exchange regulations and choosing legal exchange institutions, you can protect your money and enjoy a more secure, pleasant trip to Ho Chi Minh City! Whether at Hà Tâm or Mai Vân near Phan Thiet Market or the 59B exchange office on Đồng Khởi Street, these three legit shops will allow you to exchange money at favorable rates with peace of mind. Have a great trip!