04 entities allowed to participate in Vietnam's foreign currency market

10:01, 22/07/2014

This is a notable content mentioned in Decree No. 70/2014/NĐ-CP of Vietnam’s Government on detailing the implementation of several provisions of the Ordinance on the foreign exchange and the amended Ordinance on the foreign exchange.

Currently, foreign currency market is the place where the trading of various foreign currencies occurs. According to Decree No. 70/2014/NĐ-CP of Vietnam’s Government, entities involved in the foreign currency market consist of the State Bank of Vietnam, authorized credit institutions and clients as residents or non-residents in Vietnam.

thi truong ngoai te viet nam, nghi dinh 70/2014/NĐ-CP

Also according to Decree No. 70/2014/NĐ-CP, the inter-bank foreign currency market is considered the marketplace where the transactions between the State Bank of Vietnam and authorized credit institutions or between credit institutions take place.

Those who participate in the inter-bank foreign currency market perform the trading of foreign currency in the modes and types of transactions that participants agree on and promise between them in conformity with international practices and regulations of the State Bank of Vietnam.

Thus, the State Bank of Vietnam, authorized credit institutions and customers who are residents and non-residents in Vietnam are 04 entities allowed to participate in Vietnam's foreign currency market.

View full text at Decree No. 70/2014/NĐ-CP of Vietnam’s Government, effective from September 05, 2014.

Thu Ba

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