Thursday, December 1, 2022 6:02:03 PM - Markets open
VN-INDEX 1,036.28 -12.14/-1.16%
HNX-INDEX 211.00 +2.21/+1.06%
UPCOM-INDEX 71.41 +0.54/+0.76%
US Treasury Department recognises Vietnam’s progress in addressing currency-related concerns
Vietnamplus - 6/13/2022 4:56:51 PM
 (0 ratings. You must sign in to rate.)
The US Department of the Treasury has recognised the progress made by Vietnam in its recently released report on macro-economic and foreign exchange policies of major trading partners of the US, the State Bank of Vietnam (SBV) said on June 13.
 
The SBV said in the time ahead, it will continue working closely with relevant ministries and sectors to discuss the issues of the US side’s concern in a cooperative and win-win spirit so as to develop harmonious and sustainable trade relations.
 
The central bank of Vietnam will continue a monetary policy that aims to control inflation, stabilise the macro-economy, and aid economic recovery and development. It will also keep flexible exchange rates appropriate to macro-economic balances, market developments, and the monetary policy’s targets, it added.
 
In the report unveiled on June 10, the US Department of the Treasury continued reviewing the large trading partners in terms of three criteria: bilateral trade surplus with the US, material current account surplus, and persistent, one-sided intervention in the foreign exchange market.
 
It placed 12 economies on its “Monitoring List” of major trading partners that merit close attention to their currency practices and macro-economic policies, namely China, Japan, the Republic of Korea, Germany, Italy, India, Malaysia, Singapore, Thailand, Taiwan (China), Vietnam, and Mexico.
 
All except Taiwan and Vietnam (which were subject to enhanced engagement) were on the Monitoring List in the December 2021 Report. As both Vietnam and Taiwan exceeded the thresholds of fewer than three criteria under the Trade Facilitation and Trade Enforcement Act of 2015 (2015 Act) over the four quarters through December 2021, the Treasury Department put the two economies on the list again.
 
In the report, it also concluded that no major trading partners manipulated their exchange rates in 2021.
 
In early 2021, the department commenced enhanced bilateral engagement with Vietnam in accordance with the 2015 Act. They reached agreement in July 2021 to address the department’s concerns about Vietnam’s currency practices.
 
The Treasury Department said in the report that it continues to engage closely with the SBV to monitor Vietnam’s progress in addressing Treasury’s concerns and is thus far satisfied with progress made by Vietnam./.
VNA
 
Read original article here
 
Newer News
29/11 VPBank receives loans from large financial institutions, affirming its reputation
29/11 Banks gain big profits from forex trading
29/10 Most banks expect better business performance in 2022
24/10 Challenges for banks in recovering bad debts
13/10 Increased pressure to raise interest rates
07/10 Investors warned of the possibility of corporate bond default
28/09 Commercial banks raise deposit rates after SBV’s adjustment
28/09 Foreign investment disbursement hits record high in nine months
23/09 Reference exchange rate up 8 VND
17/09 MoF proposes to reduce fees by up to 50 per cent to support transport sector
Older News
10/06 Banks’ asset quality to remain safe thanks to large reserve buffers
10/06 Reference exchange rate up 3 VND on June 10
06/06 Reference exchange rate down 7 VND at week’s beginning
30/05 Banks told to rollout low-interest businesses loans
20/05 Vietnamese banks expected to get better credit ratings
18/05 Reference exchange rate down 20 VND
16/05 Reference exchange rate down 3 VND at week’s beginning
11/05 Reference exchange rate down 2 VND
09/05 Banks plan to increase charter capital to 2.8 billion USD in 2022
05/05 Reference exchange rate stays stable
 
Newsletter Signup
Top Stories
Banks gain big profits from forex trading
Pharmaceutical firms report positive results in Q3
Petrol prices surge in latest adjustment
Investors worried as speculative stocks plummet
Bank stocks hit by corporate bonds maturity
Market Update
Last updated at 3:05:03 PM
VN-INDEX 1,036.28 -12.14/-1.16%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.