Latest News about currency manipulator
The U.S. Department of the Treasury and the State Bank of Vietnam (SBV) have reached an agreement over the former’s designation of Vietnam as a currency manipulator.
Overcoming lockdowns during Covid-19, Vietnamese goods still reached all corners of the planet.
Prof. Dr. Tran Ngoc Tho from UEH outlines the questionable concepts in the US Treasury report labelling Vietnam and Switzerland currency manipulators.
The U.S. Department of Treasury’s decision to label Vietnam as a “currency manipulator” is not satisfactory given the country’s real conditions.
Vietnam is working hard to build a stable and transparent investment and business environment, thus becoming a destination for international human and capital resources, so it would be unreasonable for the country to devaluate its currency.
The US Treasury Department’s labelling of Vietnam as a currency manipulator is biased, as it is only based on US standards and lacks suitable consideration as well as recommendations from international organisations, according to experts.
The State Bank of Vietnam (SBV) has many times affirmed that Vietnam has no intention of devaluing the local currency to gain advantages in trade with its partners.
Vietnam is one of 10 countries in the latest watchlist for currency manipulation released by the US Treasury Department.
Businesses have expressed concern over the escalation of the US-China trade war, and are hurrying to seek solutions to anticipated problems.