Vietnam welcomes agreement on exchange rate policy with US: spokesperson

The Vietnamese Foreign Ministry's spokesperson Le Thi Thu Hang (Photo: VNA)

Hanoi (VNA) – The Vietnamese Government welcomes the outcomes of the online talks on July 19 between Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong and US Secretary of the Treasury Janet L. Yellen as well as the agreement reached the same day between the SBV and the US Department of Treasury on exchange rate policy, spokesperson of the Vietnamese Foreign Ministry Le Thi Thu Hang said on July 20.

The agreement reaffirms that Vietnam’s exchange rate policy is part of the general monetary policy framework, and consistent with the reality of the foreign currency market in the country and its international commitments in this regard, with the goal of promoting macro-economic stability, not for creating an unfair competitive advantage in international trade, Hang said in reply to reporters' question.

This is the result of an effective dialogue and consultation process in the spirit of cooperation and mutual respect between the two countries’ relevant agencies. This result also opens up opportunities for closer collaboration between Vietnam and the US in financial and monetary affairs to promote post-pandemic economic growth, she stated.

The spokesperson went on to say that in the coming time, Vietnam will maintain constructive dialogue with the US side to handle issues in economic, trade and investment relations between the two countries, thus contributing to developing bilateral economic relations more stably and sustainably, for the interests of the two countries’ people and businesses./.

VNA