Decision No. 382/QD-NH7 On Carrying Foreign Currency Cash and Traveler's Checks When Entering and Leaving the Country

Pursuant to …;

ON CARRYING FOREIGN CURRENCY IN CASH AND TRAVELER'S CHEQUES WHEN ENTERING AND LEAVING THE COUNTRY

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Ordinance on the State Bank promulgated pursuant to Decree No. 37/LCT-HĐNN8 dated May 24, 1990 of the Chairman of the Council of State of the Socialist Republic of Vietnam;

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;

Pursuant to the Foreign Exchange Management Regulations issued together with Decree No. 161/HĐBT dated October 18, 1988 of the Council of Ministers;

Pursuant to the opinion of the Prime Minister at Official Letter No. 7307/KTTH dated December 21, 1995 of the Government Office regarding adjustment of the amount of foreign currency cash that can be carried when leaving the country;

At the proposal of the Director of the Department of Foreign Exchange Management;

Pursuant to …;

Article 1. Vietnamese citizens and foreigners carrying foreign currency cash and traveler's cheques (hereinafter referred to collectively as foreign currency) up to the value of 7,000 USD (seven thousand US dollars) when exiting or entering the country through a Vietnamese border gate shall not need to declare to the customs authority at the border gate. In cases where the amount exceeds 7,000 USD, declaration to the customs authority at the border gate is required.

Article 2. Vietnamese citizens and foreigners carrying foreign currency exceeding the value of 7,000 USD when exiting the country must have a permit for carrying foreign currency issued by the State Bank or a commercial bank authorized by the State Bank, except those who have brought foreign currency into Vietnam but did not spend it all.

Article 3. This Decision takes effect from January 1, 1996 and replaces Decision No. 257/QĐ-NH7 dated October 21, 1994 of the Governor of the State Bank on carrying foreign currency cash when entering and leaving the country.

The provisions in this document do not apply to residents of border areas who frequently cross border gates.

Article 4. The Heads of the Office, Heads of the Department of Foreign Exchange Management, Directors of Branches of the State Bank in provinces and cities, General Directors (Directors) of commercial banks are responsible for implementing this Decision./.