Việt Nam did not manipulate the rate of exchange between the Vietnamese đồng and the US dollar for purposes of preventing effective balance of payments adjustments, or gaining unfair competitive advantage in international trade in the four quarters through December...
The US Treasury''s monitoring list of major trading partners includes six economies: China, Germany, Malaysia, Singapore, Taiwan (China), and Việt Nam.
The US Department of the Treasury has recognised the progress made by Viet Nam in its recently released report on macro-economic and foreign exchange policies of major trading partners of the US.
Viet Nam has pledged not to manipulate its exchange rate in order to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese dong.
The US Treasury has removed Việt Nam and Switzerland from the list of countries labeled as currency manipulators, reversing a decision of the administration under President Trump last December.
The US Treasury Department’s labelling of Viet Nam as a currency manipulator is biased, as it is only based on US standards and lacks suitable consideration as well as recommendations from international organisations.
The State Bank of Viet Nam will be consistent in regulating monetary policies according to market developments, with no aim for an unfair competitive edge in international trade.
The State Bank of Viet Nam, in conjunction with other Vietnamese ministries and agencies, will continue to share information with the US Treasury Department and co-operate to tackle issues of concern.