Decree No. 01/2013/L-CTN Announcing the Ordinance Amending the Foreign Exchange Ordinance

Decree No. 01/2013/L-CTN of the President announcing the Ordinance Amending and Supplementing Certain Provisions of the Foreign Exchange Ordinance. This document regulates foreign exchange-related activities and applies to organizations and individuals engaging in foreign exchange transactions.

Đối tượng áp dụng

Organizations and individuals participating in foreign exchange activities.

Các điểm cốt lõi

• Organizations and individuals → are permitted to buy and sell foreign currency at banks or organizations with licenses as prescribed by law → without quantity limits.
• Organizations and individuals → must comply with regulations on declaration and notification when conducting foreign exchange transactions amounting to 10 million VND or more → applicable to all foreign exchange transactions.
• Banks and licensed organizations → are allowed to carry out foreign exchange-related activities such as buying and selling, converting, guaranteeing, and collateralizing → without quantity limits.
• Banks and licensed organizations → must comply with regulations on foreign exchange risk management and reporting as prescribed by law → applicable to all foreign exchange-related activities.
• Violation of regulations → will be subject to administrative fines ranging from 50 million VND to 100 million VND or imprisonment for three months to two years → applicable to organizations and individuals in violation.