How is the Count of Defective Printed Money Supervised?

05:44, 11/07/2024

This content is stipulated in Circular 07/2017/TT-NHNN issued by the State Bank of Vietnam on July 31, 2017, regulating the supervision of the destruction of unfit currency for circulation, suspended currency, and the destruction of defective printed money.

The supervision of counting defective printed money, defective minted money, defective money printing paper, and defective coin metals is regulated under Circular 07 as follows:

- Supervise the handover of defective printed money, defective minted money, defective money printing paper, and defective coin metals between the storage of the Destruction Council and the Counting Team and vice versa;- Supervise compliance with counting regulations. During the day, any defective printed money, defective minted money, defective money printing paper, and defective coin metals that the Counting Team cannot fully count or have counted but not yet handed over to the Cutting Team must be sealed and returned to the storage of the Destruction Council;- During supervision, if necessary, the supervising official may request a recount. All cases discovered during the counting process such as surplus, shortage, or mix-up must be recorded and handled according to the regulations of the State Bank;- At the end of the day, the Team Leader (or Deputy Team Leader) of the Counting Supervision Team must confirm the counting results on the report prepared by the Destruction Council.

See details of Circular 07/2017/TT-NHNN which is effective from January 01, 2018.

-Thao Uyen-

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