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STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
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No. 1747/QD-NHNN

Hanoi, October 17, 2022

 

DECISION

On spot rate between Vietnam dong and foreign currencies of permitted credit institutions

THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010 and the Law on amendments to the Law on Credit Institutions No. 17/2017/QH14 dated November 20, 2017;

Pursuant to the Ordinance on Foreign Exchange No. 28/2005/PL-UBTVQH11  dated December 13, 2005 and the Ordinance No. 06/2013/UBTVQH13 dated March 18, 2013 on amendments to certain Articles of the Ordinance on Foreign Exchange;

Pursuant to Decree No. 16/2017/ND-CP dated February 17, 2017 of the Government on function, tasks, powers and organizational structures of the State Bank of Vietnam;

At the request of the Director General of the Monetary Policy Department,

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Article 1. Banks, non-bank credit institutions and foreign bank branches which are permitted to conduct foreign exchange trade and provide foreign exchange services (hereinafter referred to as “permitted credit institutions”) shall impose spot exchange rate between Vietnam dong and foreign currencies according to the following principles:

1. Regarding US Dollar: the spot exchange rate shall not exceed ± 5% of the central rate disclosed by the State Bank of Vietnam applicable to the specific transaction day.

2. Regarding foreign currencies: the spot exchange rate shall be determined by permitted credit institutions.

3. The difference between the buying rate and the selling rate shall be determined by permitted credit institutions.

Article 2. This Decision comes into force from October 17, 2022 and replaces Decision No. 1636/QD-NHNN dated August 18, 2015 on spot rate between Vietnam dong and foreign currencies of permitted credit institutions.

Article 3. Chief of the secretariat, Director General of the Monetary Policy Department, Heads of units affiliated to the State Bank of Vietnam, Presidents of the Boards of Directors, Presidents of the Member Councils and General Directors (Directors) of permitted credit institutions are responsible for implementation of this Decision./.

 

 

PP. GOVERNOR
DEPUTY GOVERNOR




Pham Thanh Ha

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