New Regulations on Foreign Currency Purchasing
The State Bank of Vietnam, on August 28, issued its latest Circular No. 20/2011/TT-NHNN regulating the trade in foreign currency by individuals and organizations.
Accordingly, Vietnamese individuals are allowed to purchase foreign currency at selected credit institutions to meet their spending needs, including for children, when traveling abroad.
Spending items include food-expenses, pocket-money, and traveling costs.
The regulation is applicable for overseas studies, medical treatment, trips, tourism activities or visiting relatives.
The limit of foreign currency to be purchased for above-mentioned purposes is US$100 per person a day or other kind of foreign currency of equivalent value for the ten-day stay duration abroad.
Selected credit institutions must publicly inform the list of branches buying and selling foreign currency.
VGP
Vietnamese
