Recently, the State Bank of Vietnam has issued Circular No. 16/2018/TT-NHNN amending and amending certain articles of the Circular No. 36/2014/TT-NHNN. A notable content of Circular No. 16/2018/TT-NHNN is the regulation on exchange rate used to calculate prudential ratios and limits.
- On working days other than the last working day of a month/ quarter/ year, the exchange rate shall be the one regulated by the State Bank for use in the chart of accounts of credit institutions;
- On the last working day of a month/ quarter/ year, the exchange rate shall be the one regulated by the State Bank for converting the monthly/ quarterly/ annual balance sheet prepared in a foreign currency into the one in VND if a credit institution/ foreign bank branch uses VND as its accounting currency, or the one for converting financial statements prepared in a foreign currency into VND if a credit institution/ foreign bank branch uses a foreign currency as its accounting currency in the chart of accounts of credit institutions and financial reporting policies applicable to credit institutions.
View details at Circular No. 16/2018/TT-NHNN of the State Bank of Vietnam, effective from July 31, 2018.
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