Russian bank allows đồng-denominated transfers

July 30, 2022 - 08:59

VTB Bank, a Russian state-owned bank in charge of foreign trade operations, has allowed money to be transferred to Việt Nam in đồng from July 27.

VTB headquarters in Moscow. Photo AFP

HÀ NỘI VTB Bank, a Russian state-owned bank in charge of foreign trade operations, has allowed money to be transferred to Việt Nam in đồng from July 27.

The new service enables customers to use their bank accounts to make đồng-denominated transfers. It is available to individuals and legal entities, according to the bank's press release.

Customers can use VTB Online to send their money abroad, but no more than 20 million rubles (US$330,715) per transaction and $1 million per month. The commission fee is set at 1 per cent of the transferred amounts.

The money transferred is credited to its recipient's accounts in Việt Nam on the same day. Cross-border transfers are available for both individuals and legal entities.

Earlier, VTB enabled money transfers to Russia's neighbouring countries, which comprise Azerbaijan, Armenia, Belarus and Kazakhstan. — VNS

Conference promotes business expansion to the US

Economy

Việt Nam Regional Specialities Fair 2024 starts in Hà Nội

Economy

VN's food processing industry struggles to improve quality and value chain integration

Economy

Aviation stocks waiting for takeoff as businesses soar

Economy

Monetary policy forecast unlikely to loosen further

Economy

PM attends Dominican Republic-Việt Nam business dialogue in Santo Domingo

More on this story

Economy

Record in newly-established firms set in seven months

The number of newly-established enterprises and enterprises resuming operations continued to set a new record in the first seven months of this year, along with the recovery of the domestic economy.

Economy

Lending rates expected to be stable thanks to State support package

Lending interest rates in the remaining months of this year will stay relatively stable to help firms recover production after the pandemic.

Economy

Firms expand investment in battery industry for EVs

As Việt Nam's electric vehicle (EV) market grows, the demand for batteries and energy storage solutions is accelerating and attracting the attention of many investors.

Economy

Nghi Sơn refinery reaches new milestone

Nghi Sơn Refinery and Petrochemical LLC (NSRP) has successfully delivered two petrol shipments to the Nghi Sơn Refinery Distribution Branch (PVNDB), an affiliated company of the Vietnam Oil and Gas Group.

Economy

VN’s agro-forestry-fishery exports face challenges

Viêt Nam's exports of agricultural, forestry and fisheries products increased sharply in the first half of 2022, but the sector continued to face many challenges that need to be resolved.

Economy

Hoà Phát vanishes from top 10 companies by market cap

At its peak, Hoà Phát Group (HoSE: HPG) was the country’s fourth largest company by market capitalisation on the stock market.

Economy

More technology systems needed for the stock market

The Ministry of Finance is studying and proposing to build more technology projects to meet long-term development demand in the future.

Economy

CPI goes up 2.54 per cent in seven months: GSO

The July consumer price index (CPI) grew 0.4 per cent from the previous month, contributing to the year-on-year growth of 2.54 per cent in the first seven months of this year, the General Statistics Office (GSO) said on Friday.

Economy

Automobile sales down 42 per cent on chip shortage

The Vietnam Automobile Manufacturers’ Association (VAMA) has announced that its members sold 25,159 vehicles in June, down 42 per cent from May ending three consecutive months of gains.