| THE STATE BANK OF VIETNAM ------ 02/2012/TT-NHNN | SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness Hanoi, 27 February 2012 |
CIRCULAR
Guiding the foreign exchange transaction between the State Bank of Vietnam and credit institutions, foreign bank's branches
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Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated 16 June 2010;
Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated 16 June 2010;
Pursuant to the Ordinance on Foreign Exchange No.28/2005/PL-UBTVQH dated 13 December 2005 of the National Assembly's Standing Committee;
Pursuant to the Decree No. 160/2006/ND-CP dated 28 December 2006 of the Government providing in details for the implementation of the Ordinance on Foreign Exchange;
Pursuant to the Decree No. 96/2008/ND-CP dated 26 August 2008 of the Government providing for the functions, duties, authorities and organizational structure of State Bank of Vietnam;
The State Bank Vietnam (hereinafter referred to as the State Bank) hereby provides guidance for the matters relating to foreign exchange transactions between the State Bank and credit institutions, foreign bank’s branches as follows:
Chapter I GENERAL PROVISIONS
Article 1. Governing scope and subjects of application
1. Governing scope:
This Circular provides guidance on foreign exchange transactions between the State Bank of Vietnam and credit institutions, foreign bank’s branches operating in Vietnam which are authorized to engage in foreign exchange activities.
2. Subjects of application: Credit institutions, foreign bank’s branches having foreign exchange transaction relationship with the State Bank.
Article 2. Operation of the State Bank in Vietnam foreign currency market
The State Bank builds up a plan to intervene in Vietnam foreign currency market and performs foreign exchange transactions with credit institutions, foreign bank’s branches in order to implement the objectives of national monetary policy from time to time.
