US removes Vietnam from monetary manipulation monitoring list

HANOI, Nov 12 (Bernama): Vietnam has been removed from the United States’ monetary manipulation monitoring list, Vietnam News Agency (VNA) reported according to the State Bank of Vietnam (SBV).

The decision was announced in the US Department of the Treasury's Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US, which was released on Thursday (Nov 10), the bank said.

Vietnam had previously surpassed the thresholds for all three criteria as noted in the December 2021, April 2021, and December 2020 Reports, in each of which the US Treasury conducted an enhanced analysis of Vietnam.

The US Treasury continues to engage closely with the SBV to monitor Vietnam’s progress in addressing its concerns and remains satisfied with the progress made by Vietnam.

According to the SBV, from the beginning of 2021, the US Department of Treasury has conducted enhanced bilateral contact with Vietnam and reached a general agreement in July 2021 to address the US side's concerns about the issues related to currency and exchange rate. - Bernama