Vietnam gets reprieve, Thailand on guard after US Treasury Report

The Bank of Thailand has also been intervening in the currency market to curb the baht after it gained almost 9% against the dollar last year, the most in Asia. Governor Veerathai Santiprabhob said in an interview last week that its actions aren’t aimed at gaining an export advantage over trading partners.

The US Treasury gave relief to South-East Asian nations at risk of being labelled currency manipulators.

In its semi-annual report released on Tuesday (Jan 14) in Washington, the Treasury cited 10 countries that are possibly using their exchange rates to gain an export advantage over the US Three of them -- Singapore, Malaysia, and Vietnam -- were from South-East Asia and retained on the list from May 2019, as expected.