Vietnam issues regulation on managing neighbors' currencies
HANOI - The State Bank of Vietnam (SBV) has issued a new regulation on the use of
currencies of Vietnam's neighbors, the official Vietnam News Agency (VNA) reported Saturday.
Under the regulation, Chinese yuan, Lao kip and Cambodian riel are only permitted to be used in those
areas of Vietnam that border the three respective countries, the VNA report said.
Yuan may be used at the Sino-Vietnamese border and bordergate economic areas, or taken along or stored
in Vietnamese provinces sharing borders with China, the report said, adding that similar stipulations apply
for the kip and riel.
Currencies of neighboring countries may only be used with those individuals, businesses and banks that
have received authorization from the SBV at permitted areas, VNA said.
Moreover, citizens of a country sharing borders with Vietnam who are licensed to conduct business in
Vietnam's border or bordergate economic areas and want to carry their own country's currency either for
their own use or for selling to the SBV must obtain permission from the SBV branches in these respective
border provinces, the report said.
Kyodo News - September 8, 2001.
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