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blue-check The range of spot exchange rate between Vietnam dong and USD shall be increased to 5%

Decision No. 1747/QD-NHNN dated October 17th, 2022 of the State Bank on spot rate between Vietnam dong and foreign currencies of permitted credit institutions
Posted: 25/10/2022 8:44:13 AM | Latest updated: 31/10/2022 2:22:02 PM (GMT+7) | LuatVietnam: 5566 | Vietlaw: 584
VietlawOnline

According to this Decision, from October 17th, 2022, the range of spot exchange rate between Vietnam dong and US Dollar shall be increased to ± 5% of the central rate disclosed by the State Bank of Vietnam applicable to the specific transaction day. Under the earlier regulation, it was +3% of the average exchange rate in the inter-bank foreign currency market.

Particularly, the spot exchange rate between Vietnam dong and other foreign currencies and the difference between the buying rate and the selling rate shall be determined by permitted credit institutions.

This Decision takes effect from October 17th, 2020 and replaces Decision No. 1636/QD-NHNNstatus1 dated August 18th, 2015.

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Information

Effective date 17-Oct-2022
Expired date Unknown
Published Vietlaw's Newsletter No. 584

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enflag pdficon QD1747-17102022NHNN[EN].pdf

Timeline

Exchange rate

blue-check The range of spot exchange rate between Vietnam dong and USD shall be increased to 5%
blue-check Regarding exchange rate used for determination of taxable revenue of foreign contractors
blue-check Exchange rate used for conversion of salary applicable in the first 6 months of 2020: VND 23,150/USD
blue-check Regarding exchange rate for making invoices
blue-check Exchange rates used for conversion of revenue for calculation of withholding tax
blue-check Regarding exchange rates used for calculation of withholding tax
blue-check Exchange rate used for conversion of salary applicable in the last 6 months of 2018: VND 22,635/USD
red-check Exchange rates for calculation of withholding tax
blue-check Exchange rate used for conversion of salary applicable in the first 6 months of 2018: VND 22,415 /USD
blue-check Regarding exchange rates applicable to convert incomes of foreign contractors
blue-check Regarding exchange rate for calculating withholding tax
blue-check Which exchange rates shall be used to convert salary paid in a foreign currency?
blue-check The exchange rate of VND versus USD shall be announced on the SBV’s website every day
blue-check Regarding accounting exchange rates
blue-check Regarding exchange rates used to convert revenue, expenses in foreign currencies into VND
blue-check Regarding exchange rate to determine PIT-liable incomes
blue-check Regarding exchange rates written on invoices from January 1st, 2015
blue-check The exchange rate of November 2012 is VND 20,828/USD