Vietnam applauds positive adjustment in US Treasury Department’s report

Vietnam will maintain constructive dialogue and consultation with the US side about this issue,” Spokeswoman of the Ministry of Foreign Affairs said.
April 18, 2021 | 07:51
Ex-vice chairman of HCMC sentenced to eight years for causing a great loss to treasury Ex-vice chairman of HCMC sentenced to eight years for causing a great loss to treasury
Party official receives US Deputy Assistant Secretary of Treasury Party official receives US Deputy Assistant Secretary of Treasury
PM: Soc Trang will become “treasury” of investors PM: Soc Trang will become “treasury” of investors
Vietnam applauds positive adjustment in US Treasury Department’s report
US Department of the Treasury found insufficient evidence under an earlier 1988 law to conclude that Vietnam is manipulating exchange rates to gain a trade advantage or prevent the balance of payments adjustments. (Photo: Reuters)

Vietnam welcomes the US Department of the Treasury’s positive adjustment to the content related to Vietnam in the department’s latest report on the macroeconomic and foreign exchange policies of major trading partners of the US, said Spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang.

Replying to reporters’ questions about the report released on April 16 by the US Department of the Treasury, Hang noted that the report said there is insufficient evidence to decide that Vietnam manipulates its exchange rate, Nhan Dan reported.

She added that in the recent past, Vietnamese relevant agencies have shared information and discussed with the US to clarify that Vietnam’s exchange rate policy has been steered by managerial agencies in a uniform and flexible manner that matches the reality in the country for the purpose of stabilizing macro-balances, not to create unfair competitive advantages in international trade.

Vietnam applauds positive adjustment in US Treasury Department’s report
Spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang. (Photo: VNA)

“In the spirit of respecting the economic – trade ties with the US, a pillar in the comprehensive partnership between the two countries, Vietnam will maintain constructive dialogue and consultation with the US side about this issue,” the spokeswoman added.

In a statement on Saturday, the State Bank of Vietnam said it will continue to pursue a flexible exchange rate policy that is managed in a way to contain inflation, ensure macro-economic stability, and not create an unfair trade advantage.

The U.S. Treasury Department on Friday said Vietnam, Switzerland, and Taiwan tripped their thresholds for possible currency manipulation under a 2015 U.S. trade law but refrained from formally branding them as manipulators, according to Reuters.

Despite the finding, it found insufficient evidence under an earlier 1988 law to conclude that Vietnam, Switzerland, or Taiwan are manipulating exchange rates to gain a trade advantage or prevent the balance of payments adjustments.

The move takes some pressure off Switzerland and Vietnam by lifting the manipulator designation for at least six months.

State Bank Deputy Governor: Bitcoin is not legal in Vietnam State Bank Deputy Governor: Bitcoin is not legal in Vietnam

Deputy Governor Dao Minh Tu affirmed that Bitcoin and other virtual currencies are completely not considered as cryptocurrencies, and not allowed to function as legal ...

'Pi mining' fever surges as diggers hope to catch Bitcoin-level profits 'Pi mining' fever surges as diggers hope to catch Bitcoin-level profits

For the hope of profits in an uncertain future, Pi miners are making trade-offs from phone numbers, personal photos, identification, access to phones, and more.

State Bank of Vietnam reject US claims as ‘currency manipulator’ State Bank of Vietnam reject US claims as ‘currency manipulator’

The State Bank of Vietnam (SBV) has refused the ‘currency manipulator’ label, affirming that its work of managing over exchange rate in recent years only ...

Valerie Mai

Insider

Vietnam News Today (September 20): HCM City Considers ‘Green Pass’ for Partially Vaccinated Residents National

Vietnam News Today (September 20): HCM City Considers ‘Green Pass’ for Partially Vaccinated Residents

Vietnam News Today (September 20): Vietnam records additional 10,040 Covid-19 cases; HCM City considers ‘green pass’ for partially vaccinated residents; Vietnamese consumers' demand for shopping groceries online soars amid Covid-19 ; Vung Tau proposes November reopening of beaches.
23:10 | 19/09/2021
The Pink Grass Fields of Gia Lai Travel

The Pink Grass Fields of Gia Lai

Every year when it gets cold, the grass field atop Chu Se hill grows pink, bringing along a dreamy, heaven-like feel that hardly anyone can resist.
23:09 | 19/09/2021
Pristine World Biosphere Reserves Recognized by UNESCO Multimedia

Pristine World Biosphere Reserves Recognized by UNESCO

The pristine and majestic Kon Ha Nung Plateau has just been recognized as a member of the World Network of Biosphere Reserves by UNESCO.
23:07 | 19/09/2021
Phiên bản di động