Decision No. 1033/2001/QD-NHNN adjusts the exchange rate applied by the State Bank when reselling US dollars to banks conducting foreign currency swap transactions. The exchange rate is determined by adding a specific increase to the spot selling rate for each term.
适用范围
Banks participating in foreign currency swap transactions with the State Bank.
要点
- Banks → are allowed to conduct foreign currency swap transactions with the State Bank, the applicable exchange rate being the spot selling rate plus an increase according to each term.
- Term of 7 days → increase of 0.30% of the spot selling rate.
- Term of 15 days → increase of 0.40% of the spot selling rate.
- Term of 30 days → increase of 0.50% of the spot selling rate.
- Term of 60 days → increase of 1.00% of the spot selling rate.
- Term of 90 days → increase of 1.50% of the spot selling rate.
🌐 本文件的社会影响
- Positive impact: Helps banks have a basis for determining the exchange rate when conducting foreign currency swap transactions.
- Negative impact: Increases costs for banks due to the increase in the exchange rate according to each term.
❓ 常见问题
How do banks apply the exchange rate?
Banks conducting foreign currency swap transactions with the State Bank shall apply the exchange rate which is the spot selling rate plus an increase according to each term.
What is the specific increase in the exchange rate?
The specific increase in the exchange rate is as follows: 7 days - 0.30%, 15 days - 0.40%, 30 days - 0.50%, 60 days - 1.00%, 90 days - 1.50%.
When is the exchange rate applied?
The exchange rate is applied from August 16, 2001, replacing Decision No. 894/2001/QD-NHNN.
What must banks do to comply with this regulation?
Banks are responsible for implementing this decision, including conducting foreign currency swap transactions with the State Bank according to the prescribed exchange rate.
Which banks does this decision apply to?
This decision applies to banks participating in foreign currency swap transactions with the State Bank.
全文
Pursuant to …;
Regarding the adjustment of the exchange rate applied by the State Bank when reselling US dollars to banks conducting foreign currency swap transactions pursuant to Decision No. 893/2001/QĐ-NHNN dated July 17, 2001 of the Governor of the State Bank on the implementation of foreign currency swap transactions between the State Bank and banks to meet the short-term capital needs of the banksTo implement foreign currency swap transactions between the State Bank and banks to meet the short-term capital needs of the banks
_____________________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;
At the proposal of the Head of the Monetary Policy Department.
Pursuant to …;
Article 1. The exchange rate applied by the State Bank when reselling US dollars to banks conducting foreign currency swaps shall be the selling spot rate of the State Bank on the date of signing the foreign currency swap contract or the date of confirming the foreign currency swap transaction through the Reuters network (hereinafter referred to as the "selling spot rate"), plus an increase amount specified for each term as detailed in Article 2 of this Decision.
Article 2. The increase in the exchange rate for each specific term is as follows:
- For the 7-day term: 0.30% of the selling spot rate.
- For the 15-day term: 0.40% of the selling spot rate.
- For the 30-day term: 0.50% of the selling spot rate.
- For the 60-day term: 1.00% of the selling spot rate.
- For the 90-day term: 1.50% of the selling spot rate.
Article 3. This Decision takes effect from August 16, 2001, and replaces Decision No. 894/2001/QĐ-NHNN dated July 17, 2001 of the Governor of the State Bank on the exchange rate applied by the State Bank when reselling US dollars to banks conducting foreign currency swaps pursuant to Decision No. 893/2001/QĐ-NHNN dated July 17, 2001 of the Governor of the State Bank on the implementation of foreign currency swap transactions between the State Bank and banks to meet the short-term capital needs of the banks.
Article 4. The Director of the Office, Heads of Departments of Monetary Policy, Foreign Exchange Management, Credit, Trading Department of the State Bank, Head of Accounting and Finance Department, Heads of relevant units at the Central State Bank, General Directors (Directors) of participating banks in foreign currency swap transactions with the State Bank are responsible for implementing this Decision.
DEPUTY DIRECTOR
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