Press Release on issuance of Circular No. 15/2015/TT-NHNN
The Governor of the State Bank of Vietnam (SBV) issued Circular No. 15/2015/TT-NHNN on October 2 on guiding forex transactions of licensed credit institutions in forex market.
The Circular includes 4 Chapters and 18 Articles, of which there are revised substances as compared to Decision No. 1452/2004/QĐ-NHNN dated November 10, 2004 and several relevant regulations such as the basis for defining the exchange rate of VND versus USD, requirement of presenting dossier when making forex transactions, responsibilities of licensed credit institutions for issuing internal regulations of forex transactions in line with this Circular.
The Circular replaces Decision No. 1452/2004/QĐ-NHNN dated November 10, 2004 on forex transactions of licensed credit institutions, Decision No. 101/1999/QĐ-NHNN13 dated March 26, 1999 on issuing Regulations on organization and operations in inter-bank forex market; Decision No. 401/1999/QĐ-NHNN10 dated November 12, 1999 on revising several articles of Circular No. 07/TT-NH1 dated December 27, 1996 and Decision No. 101/1999/QĐ-NHNN13; Decision No. 206/2000/QĐ-NHNN13 dated July 11, 2000 on revising Item 2 of Article 9 of Regulations on organization and operations in inter-bank forex market, which was promulgated with Decision No. 101/1999/QĐ-NHNN13; Decision No. 648/2004/QĐ-NHNN dated May 28, 2004 on revising several articles of Decision No. 679/2002/QĐ-NHNN dated July 1, 2002 on issuing several regulations related to forex transactions of licensed credit institutions.
The Circular will take effect from October 5, 2015.
Translated by TLH