Some Notes on the Selection of Currency Not Meeting Circulation Standards

17:16, 10/07/2024

This is a notable content mentioned by the Governor of the State Bank of Vietnam in Circular 25/2013/TT-NHNN regulating the collection and exchange of money not meeting circulation standards.

The selection of currency not meeting circulation standards is regulated by Circular 25/2013/TT-NHNN as follows:

tien khong du tieu chuan luu thong, thong tu 25/2013/TT-NHNN

Source: Internet

- During the process of cash receipt and disbursement with customers, the State Bank of Vietnam branches, the State Bank of Vietnam Transactions Office, and currency exchange units must select, classify, and withdraw currency not meeting circulation standards.- During the process of counting and receiving cash with exchange units, if the State Bank of Vietnam branches or the State Bank of Vietnam Transactions Office detects damaged or worn currency due to storage mixed in with currency meeting circulation standards, they must perform the exchange and withdrawal.- During the process of receiving cash from exchange units, the State Bank of Vietnam branches and the State Bank of Vietnam Transactions Office have the right to randomly check the bundles of received currency; if the proportion of currency not meeting circulation standards is greater than 5% of the total checked bundles of currency meeting circulation standards, they shall refuse to accept the entire submitted amount from the unit and require the unit to reselect.

For detailed regulations, see Circular 25/2013/TT-NHNN, effective from January 20, 2014.

Thu Ba

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