THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 679/2002/QD-NHNN
Hanoi, July 01, 2002
 DECISION
PROMULGATING A NUMBER OF PROVISIONS RELATING TO FOREIGN CURRENCY TRANSACTIONS OF CREDIT INSTITUTIONS LICENSED TO DEAL IN FOREIGN CURRENCIES
THE STATE BANK GOVERNOR
Pursuant to December 12, 1997 State Bank Law No. 01/1997/QH10 and the December 12, 1997 Credit Institutions Law No. 02/1997/QH10;
Pursuant to the Government’s Decree No. 15/CP of March 2, 1993 on the tasks, powers and State management responsibilities of the ministries and ministerial-level agencies;
At the proposal of the director of the Department for Foreign Exchange Management,
DECIDES:
Article 1.- The general directors (directors) of credit institutions licensed to deal in foreign currencies shall be allowed to set Vietnam dong’s spot exchange rates against foreign currencies according to the following principles:
1. For US dollar: They must not exceed the amplitude ± 0.25% (zero point twenty-five percent) as compared to the average exchange rate on the inter-bank foreign currency market, announced by the State Bank on the nearest preceding transaction day.
2. For other foreign currencies: They shall be determined by the general directors (directors) of credit institutions licensed to deal in foreign currencies.

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3. The difference between the buying rate and the selling rate shall be determined by the general directors (directors) of credit institutions licensed to deal in foreign currencies.
 

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