US treasury department drops Vietnam from currency monitoring list

22 Jun '23

1 min read

Insights

The US has dropped Vietnam from its monitoring list for currency manipulation as the latter exceeded the threshold for the criterion of surplus of trade in goods and services with the former.
In its semi-annual currency report, the US treasury department put seven nations in the list: Switzerland, Germany, Singapore, China, Taiwan, South Korea and Malaysia.

The US department of treasury has dropped Vietnam from its monitoring list for currency manipulation as the latter exceeded the threshold for the criterion of surplus of trade in goods and services with the former.

The department, which recently released its semi-annual currency report, put seven economies in the list: Switzerland, Germany, Singapore, China, Taiwan, South Korea and Malaysia, according to Vietnamese media reports.

No major US trading partners manipulated their currencies for an export advantage last year, the report concluded.

The department had earlier appreciated the State Bank of Vietnam’s management of monetary policy, helping to stabilise the financial and monetary market as well as the macro-economy amid global difficulties and challenges.

ALCHEMPro News Desk (DS)

More Textiles News - Vietnam...