To:

- The State Banks branches in provinces, cities
- Banks authorized to trade in foreign currency

The State Bank has recently issued the Decision No. 921/QD-NHNN dated 27/06/2005 on the amendment of the Decision No. 337/1998/QD-NHNN of the Governor of the State Bank on carrying cash in foreign currency and Vietnamese Dong upon entry into and exit from the country. According to the Decision No. 921/QD-NHNN, the limit that needs declaring at the checkpoint Customs upon entry into and exit from the country shall be US$ 7000 for cash in foreign currency and VND 15 million for cash in Vietnamese Dong. In order to avoid obstacle that may occur in the implementation of this Decision, the State Bank provides guidance on several matters as follows:

1. Vietnamese citizen, who has a demand for carrying foreign currency of less than USD 7,000 to serve for legal purposes as provided for in the Decision No. 1437/QD-NHNN, does not need to have the permit of the State Banks branches in provinces, cities.

2. Vietnamese citizen, who has a demand for carrying foreign currency to serve for the purpose of assisting their relatives in difficulties in accordance with provisions in Article 9 of the Decision No.1437/QD-NHNN, does not need to have the permit of the State Banks branches in provinces, cities.

3. Where a Vietnamese citizen has a demand for carrying foreign currency from USD 7,000 upward or has a demand for buying, remitting foreign currency for legal purposes as provided for in the Decision No. 1437/QD-NHNN, he must still comply with the procedures, conditions for the grant of the foreign currency carrying permit as provided for in the Decision No. 1437/QD-NHNN.

4. The Decision No. 921/QD-NHNN was published in the Official Gazette on 3 July 2005 and shall be effective from 18 July 2005 in accordance with applicable provisions. The State Bank requests the State Banks branches in provinces, cities and commercial banks to deploy the implementation of the provisions of the Decision No. 921/QD-NHNN from its effective date.

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AUTHORIZED BY THE GOVERNOR OF THE STATE BANK
FOR THE DIRECTOR OF THE FOREIGN EXCHANGE CONTROL DEPARTMENT
DEPUTY DIRECTOR




Nguyen Ngoc Lan