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On November 10, 2026, the State Bank of Vietnam issued Decision No. 2452/QD-NHNN on the continued effectiveness of Circular No. 32/2013/TT-NHNN guiding the implementation of provisions restricting the use of foreign exchange in the Vietnamese territory.
Under Article 1 of Decision No. 2452/QD-NHNN, the provisions of Circular No. 32/2013/TT-NHNN, which was amended and supplemented under Circular No. 03/2019/TT-NHNN and Chapter III of Circular No. 75/2025/TT-NHNN, continue to remain effective from November 10, 2026.
Under Article 3 of Circular No. 32/2013/TT-NHNN, in the Vietnamese territory, except in cases where foreign exchange may be used as specified in Article 4 of this Circular, all transactions, payments, listings, advertisements, price quotations, setting and writing of prices in contracts, and agreements of residents and non-residents may not be conducted in foreign exchange.
This provision also applies to other similar activities (including also conversion or adjustment of prices of goods or services, or values of contracts or agreements) in foreign exchange.
In other words, the use of foreign currency in transactions and payments between organizations and individuals in the Vietnamese territory is not permitted at their discretion but must fall within cases permitted by law.
Article 4 of Circular No. 32/2013/TT-NHNN (as amended and supplemented under relevant legal documents) provides for cases where foreign exchange may be used in the Vietnamese territory. Some notable cases include:
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Banks, non-bank credit institutions and foreign bank branches licensed to trade in foreign exchange and provide foreign exchange services may conduct transactions, make payments, listings, advertisements or price quotations, set and write prices in contracts or agreements in foreign currency within the scope of trading in and provision of foreign exchange services permitted by the State Bank of Vietnam in accordance with law.
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Resident organizations with legal person status may internally transfer capital in foreign currency between their accounts and accounts of their respective dependent units without legal person status, and vice versa.
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Residents may contribute capital in foreign currency by bank transfer for implementation of foreign investment projects in Vietnam.
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Residents implementing import or export entrustment contracts may write in import entrustment contracts prices in foreign currency or write in export entrustment contracts prices in foreign currency, and make or receive payments in foreign currency by bank transfer in accordance with regulations.
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Foreign investors may make deposits and security deposits in foreign currency by bank transfer when participating in certain auctions for the purchase of shares or capital contributions in accordance with regulations.
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Non-residents may make foreign currency transfers to other non-residents; and may write in prices in contracts in foreign currency and pay residents in foreign currency by bank transfer for the export of goods and services in accordance with regulations.
In addition, for cases related to security, national defense, oil and gas, and other necessary cases, organizations may use foreign exchange in the Vietnamese territory after obtaining written approval from the State Bank of Vietnam in accordance with Article 4a of Circular No. 32/2013/TT-NHNN, as amended and supplemented under Article 11 of Circular No. 75/2025/TT-NHNN.
