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Foreign currencies available to locals
Viet Nam Export and Import Bank (Eximbank) will sell foreign currencies based on rates stipulated by the State Bank of Viet Nam (SBV), without additional fees, to customers wanting to travel abroad.
On Thursday, Eximbank sent a request to its local branches asking them to provide foreign currencies in cash at the official listing prices.
The bank's foreign currencies would be available to customers who had legitimate purposes of travel for study, medical treatment or visiting under SBV regulations.
The bank would sell foreign currencies, including US, Australian, Hong Kong, Singapore and Canadian dollars, Japanese yen and the British pound based on customers' destinations and their documents.
Specifically, it would sell foreign currency worth US$300 per person for a working trip or tour of less than seven days and $600 for longer visits.
For a visit for medical treatment, the bank would sell $600 worth of foreign currency per person for stays of less than seven days and $1,000 per person for longer periods.
For students going to study in another country, foreign currencies worth $7,000 would be sold.
If the currency requested was not available, Eximbank would sell another strong foreign currency equivalent, while avoiding direct pressure on the bank's US dollar supply.
Eximbank was the second bank, after the DongA Bank, to announce the provision of foreign currencies in cash to individual customers in response to the SBV's recent request asking commercial banks to sell foreign currencies to citizens in need.
Both DongA Bank and Eximbank have encouraged customers to use short-term international credit cards for their trips.
Earlier this week, Eximbank reduced to 2.5 per cent its service fees for customers using currency sales from the bank's international credit cards.
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