Vietnam: Export and import of CNY cash and VND cash

11:32, 06/10/2018

The State Bank of Vietnam issued Circular No. 19/2018/TT-NHNN guiding foreign exchange management for border trade between Vietnam and China, effective from October 12, 2018.

According to Circular No. 19/2018/TT-NHNN of the State Bank of Vietnam, export and import of CNY cash and VND cash shall be carried out at bordering branches. To be specific:

1. The licensed bank having bordering branches may import and export CNY cash and VND cash in order to regulate the cash amount for business operation of its bordering branches.

2. CNY cash and VND cash shall be imported or exported through the international border checkpoint and main border checkpoint and the economic zone between Vietnam and China.

3. When importing or exporting CNY cash and VND cash, the licensed bank having bordering branches shall take responsibility to:

- make a customs declaration at the border checkpoint as per law provisions;

- work out methods for management, supervision and assurance of safety for delivery, receiving, maintenance and transport of CNY cash and VND cash;

- face risks related to cash import and export on its own.

View more at Circular No. 19/2018/TT-NHNN of the State Bank of Vietnam amending Circular No. 33/2013/TT-NHNN.

- Thanh Lam -

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