New regulations on foreign currency status issued

VGP – The State Bank of Việt Nam has issued Circular 07/TT-NHNN stipulating the foreign currency status of credit organizations and foreign-funded branches.

March 21, 2012 5:49 PM GMT+7

Accordingly, the negative or positive foreign currency status of credit organizations shall not go beyond 20% of their total capital volume by the end of a day.

Foreign-funded branches with the capital volume of less than US $25 million are requested to maintain the negative and positive limit equally under US $5 by the end of a day.

The Circular is scheduled to take effect from May 2, 2012.

By Hải Minh