The State Bank is the sole agency entitled to issue banknotes and coins of Vietnam

08:22, 01/03/2011

To ensure a balance between circulating money and real assets on the market, while ensuring strict management of money, the right to issue money only focuses on one clue, all acts of issuing money not of this agency are illegal.

According to Article 17 of the Law on the State Bank of Vietnam 2010, the State Bank is the sole agency entitled to issue banknotes and coins of the Socialist Republic of Vietnam.

The State Bank shall ensure the sufficient supply of, and an appropriate ratio between, banknotes and coins for the national economy. Banknotes and coins issued for circulation shall be recorded as "debit" of the national economy and balanced by "credit" of the State Bank.

Prohibited acts in issuance of banknotes and coins in Vietnam include:

- Making counterfeit money: transporting, storing and circulating counterfeit money;

- Illegally destroying money;

- Refusing to receive or circulate money issued by the State Bank which are qualified for circulation.

View more details at the Law on the State Bank of Vietnam 2010, effective from January 01, 2011.

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