Small banknotes of VND1,000, VND2,000, VND5,000, VND10,000, and VND20,000 denomination are widely used for giving li xi on the first days of the lunar year that represents fortune, wealth, and prosperity. — VNS Photo

Exchange services for new banknotes to be used as “li xi” or lucky money during the Tet (Lunar New Year) holiday are booming ahead one month before the holiday.

People usually prepare new, small face banknotes and put them in a red envelope to give lucky money, which is a tradition associated with Tet.

Small banknotes of VND500 ($0.02), VND1,000, VND2,000, VND 5,000, VND10,000, and VND20,000 denominations are widely used for giving li xi on the first days of the lunar year, which represent fortune and prosperity.

The exchange services for new banknotes are flooding the Internet, with a common exchange rate at 2 per cent for each banknote denomination.

New one-dollar and two-dollar bills are also being hunted for use as lucky money, with one-dollar bills being exchanged for VND30,000 ($1.3).

Apart from local currency bills, unique banknotes featuring imprinted buffalo, the lunar year’s zodiac animal, are on sale for lucky money collections, including banknotes from Zimbabwe, Nepal, Laos, and South Sudan.

The Japanese five yen coin, which is considered a lucky charm in Japan, are sold at VND40,000 ($1.7).

The State Bank of Viet Nam late last month announced that new banknotes with denominations lower than VND5,000 would not be issued for Tet.

This is the eight consecutive year that the bank has not printed new small notes to meet demand of new note exchange during Tet.

Lucky money transfer via e-wallets has emerged as a popular choice among young people. — VNS