Công văn 9430/NHNN-QLNH

To: General Directors (Directors) of credit institutions authorized to engage in foreign exchange activity

In order to stabilize domestic foreign exchange market, the Governor of the State Bank of Vietnam hereby requires:

1. Credit institutions with foreign currency position to be of –5% and below to submit their application for the sale of foreign currency by the State Bank as support, priority shall be given to commodities imported for production purpose.

2. Credit institutions authorized to engage in foreign exchange activity to seriously comply with provisions of the State Bank on exchange rate band when buying foreign currency,

3. General Directors (Directors) of credit institutions authorized to engage in foreign exchange activity to take responsibility for checking, examining the implementation of the content, stated in point 2 of this official dispatch, at their unit and take responsibility to the law for any violation act their unit commits.

4. Chief Inspector of Banking Inspection and Supervision Agency to set up examination, inspection groups on unexpected basis to inspect and examine the compliance with above mentioned provisions by credit institutions and make report of violation acts to State Bank’s Governor for strict settlement measures.

5. Credit institutions, enterprises to timely make report on phenomena that credit institutions, enterprises use any form whatever to buy and sell US dollars in excess of the ceiling rate as stipulated to the hotline of the State Bank via following telephone numbers:

- State Bank’s Office: (04) 38 266 344, 01226 376 735

- State Bank Inspectorate: (04) 22 239 521, 0122 626 8579

This document shall take effect since the date of signing.