DECISION

ON THE ANNOUNCEMENT OF THE OFFICIAL EXCHANGE RATE BETWEEN VIETNAM DONG AND US DOLLAR AND THE CROSS RATE BETWEEN VIETNAM DONG AND OTHER FOREIGN CURRENCIES

THE GOVERNOR OF THE STATE BANK

Pursuant to Law on the State bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to Ordinance on Foreign Currencies No.28/2005/PL-UBTVQH11 dated December 13, 2005;

Pursuant to Ordinance on Foreign Currencies No.06/2013/UBTVQH13 dated March 18, 2013 on amendments and supplementation of a number of Articles in the Ordinance;

Pursuant to Government’s Decree No.70/2014/ND-CP dated July 17, 2014 on specific implementations of a number of Article in the Ordinance on Foreign Currencies;

Pursuant to Government's Decree No. 156/2013/ND-CP dated November 11, 2013 defining the functions, tasks, entitlements and organizational structure of the State bank of Vietnam;

At the request of the Director of the Financial Policy Department,

DECISION

Article 1. Every day, Vietnam’s State Bank (State Bank) will announce the official exchange rate between Vietnam dong and US Dollars on its website.

Article 2.

1. The official exchange rate between VND and USD is determined with reference to any fluctuation in the weighted average rate occurring on the interbank or international forex market for several currencies of countries that have established major commercial, lending or borrowing, or debt repayment, or investment relationship with Vietnam, macroeconomic and currency balances, and in line with to monetary policy goals.

2. “Official exchange rate between Vietnam dong and US Dollar" in this Decision is “the interbank average exchange rate between Vietnam dong and US Dollar”.

Article 3. Vietnam’s State Bank will announce the cross rate between Vietnam dong and other foreign currencies for tax calculation on its website every Thursday or the working day before Thursday in case Thursday is a public holiday or weekend.

Article 4. The Director of the Financial Policy Department has the responsibility to:

1. Announce the official exchange rate between Vietnam dong and US Dollar as per regulations in Article 1 of this Decision.

2. Announce the cross rate between Vietnam dong and other foreign currencies for tax calculation.

Article 5. Implementation provisions

1. This Decision comes into force since January 04, 2016.

2. Article 3. Director of the Administrative Department, Director of the Monetary Policy Department, Heads of related units of the State Bank shall be responsible for the implementation of this Decision./.