>Review and amend all cross-border contracts to specify settlement currency, reference exchange rate (SBV mid-rate), and FX risk allocation clause by March 31, 2026
>Process all outbound payments exclusively through SBV-licensed banks (e.g., Vietcombank, BIDV) and submit customs documentation electronically via SBV’s e-Declaration Portal
>Submit weekly FX exposure reports to senior management, including open forward positions, maturity dates, and corresponding trade document references
English Summary
This article reports a marginal 0.02% depreciation of the USD against the VND at Vietcombank on March 10, 2026, while the parallel market rose 0.15%. Though not a regulatory change, it underscores Vietnam’s strict foreign exchange regime under the State Bank of Vietnam (SBV). All cross-border payments must be processed via licensed banks with verifiable underlying transactions. Enterprises must retain supporting documents (e.g., contracts, invoices, customs declarations) for five years. Unlicensed forex trading—including black-market exchanges—is illegal and punishable by fines or imprisonment under Decree 88/2019/ND-CP. Foreign businesses must align treasury operations with SBV Circular 29/2023/TT-NHNN, update FX risk clauses in contracts, and reconcile daily FX positions against SBV’s reference rate. Non-compliance may trigger audit scrutiny, delayed payments, or penalties.