Topic: foreign exchange

The State Bank of Vietnam has begun selling US dollars to curb a rapidly appreciating exchange rate, offering relief to banks with negative foreign currency positions.

The State Bank of Vietnam pledges to stabilize the dong after the USD hit record highs, citing abundant foreign reserves and flexible monetary tools.

A number of new socio-economic-related legal policies are set to take effect from September, including new regulations on calculating VAT on real estate transfers, foreign exchange management for bond issuances, and policies on the importation of automobiles for non-commercial purposes.

The State Bank of Vietnam (SBV) has issued a Circular guiding foreign exchange management in the business of prize-winning electronic games for foreigners. From September 1, players are allowed to transfer foreign currencies as bonuses abroad via authorized banks.