Decision No. 258/2000/QD-NHNN7 of August 14, 2000, on the issuance of the regulation on operation of the foreign currency exchange counters
STATE BANK OF VIETNAM
SOCIALIST REPUBLIC OF VIETNAM
Hanoi, August 14th, 2000
ON THE ISSUANCE OF THE REGULATION ON OPERATION OF THE FOREIGN CURRENCY EXCHANGE COUNTERS
THE GOVERNOR OF THE STATE BANK
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December, 1997;
Pursuant to the Decree No. 63/1998/ND-CP dated 17 August, 1998 of the Government on foreign exchange control;
Upon the proposal of the Director of the Foreign Exchange Control Department,
Article 1. To issue in conjunction with this Decision the " Regulation on operations of the foreign currency exchange counters".
Article 2. This Decision shall be effective after 15 days since the date of signing and repeal the Decision No. 103/QD-NH7 dated 3 April, 1995 of the Governor of the State Bank on the issuance of the "Regulation on operation of the foreign currency exchange counters", the Instruction No. 01/1998/CT-NHNN7 dated 9 January, 1998 of the Governor of the State Bank on the correction of the operation of the foreign currency exchange counters and provisions relating to the foreign currency exchange counter stated in the Circular No. 01/1999/TT-NHNN7 dated 16 April, 1999 of the State Bank guiding the implementation of Decree No. 63/1998/ND-CP dated 17 August 1998 of the Government on the foreign exchange control.
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Article 3. The Director of the Administration Department, the Director of the foreign exchange control Department, Heads of units of the State Bank, Managers of the State Bank branches in provinces, cities under the central Government's management, General Directors (Directors) of authorised credit institutions shall be responsible for the implementation of this Decision.
FOR THE GOVERNOR OF THE STATE BANK
Duong Thu Huong
ON OPERATION OF THE FOREIGN CURRENCY EXCHANGE COUNTERS
(issued in conjunction with the Decision No. 258/2000/QD-NHNN7 dated 14 August, 2000 of the Governor of the State Bank)
Article 1. Governing scope
This Regulation shall govern the operation of foreign currency exchange counters in the territory of the Socialist Republic of Vietnam.
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The exchange of currencies of countries sharing the same border at the border areas shall be carried out in accordance with a separate regulation on the foreign exchange control in the border areas.
Article 2. Interpretation
In this Regulation, following terms shall be construed as follows:
1. Cash in foreign currency shall be the currency of a foreign country or a common currency of several countries in form of banknotes, coins, traveller cheques and similar payment instruments denominated in a foreign currency in accordance with provisions of applicable laws which are legally in circulation and not prohibited by the State Bank from use for transaction and accepted by credit institutions in the foreign currency exchange operation.
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