The headquarters of the State Bank of Vietnam (Photo: VNA) The bank said that the decision was announced inthe US Department of the Treasury's Report to Congress on Macroeconomic andForeign Exchange Policies of Major Trading Partners of the US, which wasreleased on November 10.
Vietnam had previously surpassed the thresholdsfor all three criteria as noted in the December 2021, April 2021, and December2020 Reports, in each of which the US Treasury conducted enhanced analysis ofVietnam.
The US Treasury continues to engage closely withthe SBV to monitor Vietnam’s progress in addressing its concerns and remainssatisfied 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 withVietnam and reached a general agreement in July 2021 to address the US side'sconcerns about the issues related to currency and exchange rate.
In this report, the US Department of Treasurycontinues to recognise the progress of Vietnam. At the department's delegationvisit to Vietnam on October 3, 2022, the US side highly valued the SBV'smanagement of monetary and exchange rate policies amid many difficulties andchallenges in the global economy.
In the report, the US department identifies itstrade partners basing on signs of a significant bilateral trade surplus with the US, a material current account surplus,and engaged in persistent one-sided intervention in the foreignexchange market./.
VNA
