VietnameseDecision No. 3039/QD-NHNN dated December 24, 2007 of the State Bank on the issuance of some Provisions relating to foreign currency transaction by credit institutions authorised to engage in foreign exchange activity
ATTRIBUTE
Decision No. 3039/QD-NHNN dated December 24, 2007 of the State Bank on the issuance of some Provisions relating to foreign currency transaction by credit institutions authorised to engage in foreign exchange activity
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 3039/QD-NHNN | Signer: | Nguyen Van Giau |
| Type: | Decision | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 24/12/2007 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking |
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THE STATE BANK OF VIETNAM -------------- | SOCIALIST REPUBLIC OF VIETNAM Independence-Freedom-Happiness ---------------- |
No. 3039/QD-NHNN | Hanoi, December 24, 2007 |
DECISION
ON THE ISSUANCE OF SOME PROVISIONS RELATING TO FOREIGN CURRENCY TRANSACTION BY CREDIT INSTITUTIONS AUTHORISED TO ENGAGE IN FOREIGN EXCHANGE ACTIVITY
THE GOVERNOR OF THE STATE BANK
- Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December 1997; the Law on amendment, supplement of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated 17 June 2003;
- Pursuant to the Law on Credit Institutions No. 02/1997/QH10 dated 12 December 1997; the Law on amendment, supplement of the Law on Credit Institutions No. 20/2004/QH11 dated 15 June 2004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government providing for the function, assignment, authority and organizational structure of the State Bank of Vietnam;
- Upon the proposal of the Director of the Foreign Exchange Control Department.
- Upon the proposal of the Director of the Foreign Exchange Control Department.
DECIDES:
Article 1. The General Directors (Directors) of credit institutions authorised to engage in foreign exchange activity shall be permitted to determine the buying and selling rates for spot transaction between Vietnamese Dong and foreign currencies under the following principles:
1. For US$: the maximum exchange rate shall not exceed +0.75% (zero point seventy five per cent) of the average exchange rate in the inter-bank foreign currency market applicable to the transaction date, announced by the State Bank.
2. For other foreign currencies: The exchange rate shall be determined by the General Directors (Directors) of credit institutions authorised to engage in foreign exchange activity.
3. The General Directors (Directors) of credit institutions authorised to engage in foreign exchange activity shall determine the difference between the buying and selling rates.
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