This decision supplements the provisions on determining the exchange rate for foreign currency forward and swap transactions for credit institutions permitted to conduct forward and swap foreign exchange transactions. The exchange rate shall not exceed the maximum limit of the spot exchange rate plus a specific percentage according to the term of the transaction.
适用范围
Credit institutions permitted to conduct forward and swap foreign exchange transactions
要点
- Credit institutions permitted to conduct forward and swap foreign exchange transactions may determine the exchange rate for buying and selling forward and swap transactions between Vietnamese dong and US dollar without exceeding the maximum limit of the spot exchange rate plus specific percentage levels according to the term of the transaction under one month.
- Specific percentage levels: Under one week is 0.25%, from one week to two weeks is 0.5%, from two weeks to three weeks is 0.75%, from three weeks to four weeks is 1%.
- This decision takes effect from March 3, 1998.
- This decision supplements Article 1 of Decision No. 16/1998/QĐ-NHNN7 of the Governor of the State Bank.
- The Governor, Heads of Departments and Bureaus at the Central State Bank, Branch Directors of the State Bank in provinces and cities, General Directors, and Directors of Credit Institutions are responsible for implementing this decision.
🌐 本文件的社会影响
- Positive impact: Helps credit institutions be flexible in determining the exchange rate for foreign currency forward and swap transactions.
- Negative impact: May cause difficulties for enterprises in complying with the specific percentage levels according to the term of the transaction.
❓ 常见问题
How can credit institutions permitted to conduct forward and swap foreign exchange transactions determine the exchange rate for buying and selling?
Credit institutions are permitted to determine the exchange rate for buying and selling without exceeding the maximum limit of the spot exchange rate plus specific percentage levels according to the term of the transaction under one month: Under one week is 0.25%, from one week to two weeks is 0.5%, from two weeks to three weeks is 0.75%, from three weeks to four weeks is 1%.
When does this decision take effect?
This decision takes effect from March 3, 1998.
Credit institutions permitted to conduct forward and swap foreign exchange transactions include which organizations?
Credit institutions permitted to conduct forward and swap foreign exchange transactions.
What are the specific percentage levels according to the term of the transaction?
Specific percentage levels: Under one week is 0.25%, from one week to two weeks is 0.5%, from two weeks to three weeks is 0.75%, from three weeks to four weeks is 1%.
What does this decision supplement?
This decision supplements Article 1 of Decision No. 16/1998/QĐ-NHNN7 of the Governor of the State Bank.
全文
Pursuant to …;
OF THE HEAD OF THE STATE BANK
Regarding the supplementation of regulations on the principle of setting exchange rates for foreign currency forward transactions and swaps by credit institutions permitted to engage in forward and swap transactions
_____________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Ordinance of the State Bank of Vietnam promulgated by Decree No. 37-LCT/HĐNN of May 24, 1990, issued by the Chairman of the Council of State of the Socialist Republic of Vietnam;
Pursuant to Decree 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 Decree No. 161/HĐBT of October 18, 1988, issued by the Council of Ministers regarding the "Regulations on Foreign Exchange Management" of the Socialist Republic of Vietnam;
At the proposal of the Director of the Department of Foreign Exchange Management;
DECISION:
Article 1. Now permits the General Directors (Directors) of credit institutions permitted to engage in forward and swap transactions to set the buying and selling forward and swap exchange rates between the Vietnamese dong and the US dollar not exceeding the maximum limit of the spot rate (the official rate plus the margin according to the current regulations of the Governor of the State Bank of Vietnam) at the time of transaction, plus specific percentage levels relative to the maximum limit of the spot rate for each term under one month as follows:
Under one week 0.25%
From one week to two weeks 0.5%
From two weeks to three weeks 0.75%
From three weeks to four weeks 1%
Article 2. This Decision supplements Article 1 of Decision No. 16/1998/QĐ-NHNN dated January 10, 1998, of the Governor of the State Bank of Vietnam.
Article 3. This Decision shall take effect from March 3, 1998.
Article 4. The Director of the Governor's Office, Heads of Departments and Bureaus of the Central State Bank, Governors of the State Bank branches in provinces and cities, General Directors, and Directors of Credit Institutions are responsible for implementing this Decision./.
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