The State Bank of Vietnam (SBV) gave a permission on February 12 to the Vietnam Export-Import Bank (Eximbank) to offer options for US dollars. According to Truong Van Phuoc, Eximbank general director, this is the first time the forex options is available in Vietnam. To use it, clients will only have to pay a small service charge that varies depending on the booked price rate and the booked length of time.
It is expected that the new service will be officially launched on February 24. At first, forex options is only available for transactions in US dollars and other foreign currencies—not yet between US dollars and the dong. The maximum bookable length of time is three months and the highest option contract amount is US$500,000.