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Thursday, December 17, 2020, 23:11 GMT+7
A customer counts U.S. dollar bills at a bank in Vietnam. Photo: Tuoi Tre
Vietnam on Thursday denied gaining “unfair competitive advantage in international trade” with its exchange rate management after the U.S. Department of the Treasury labeled the Southeast Asian country as a currency manipulator.
The U.S. Treasury on Wednesday delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, naming ten economies including China, Japan, South Korea, Germany, Italy, Singapore, Malaysia, Taiwan, Thailand, and India on a ‘Monitoring List’ of those suspected to be devaluing their currencies against the dollar.
Update: December, 17/2020 - 15:39 |
The State Bank of Vietnam headquarters in Hà Nội. VNA/VNS Photo
HÀ NỘI Việt Nam s exchange rate control, as part of its general currency policy, aims at keeping inflation in check and stabilising the macroeconomy. The country does not intend to create unfair competitive advantage in international trade, said the State Bank of Vietnam (SBV) on Thursday morning in a response to a report by the US Department of the Treasury in which it listed Việt Nam and Switzerland as currency manipulators.
On the topic of bilateral trade imbalances, the SBV said its recent purchase of foreign currency was part of an effort to ensure the stability of its Forex exchange market and to build up reserves and strengthen currency security, which has been considered to be on the lower side in comparison with other countries in Southeast Asia.
Thailand on US Treasury s watchlist for suspected currency manipulation thethaiger.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thethaiger.com Daily Mail and Mail on Sunday newspapers.
US adds India to Currency Manipulation Watchlist after removing it in 2019
India
Published: Thursday, December 17, 2020, 13:30 [IST]
New Delhi, Dec 17: The US on Wednesday added India to the monitoring list of currency manipulating countries that includes major trading partners like China and six others.
Representational Image
The other countries on the monitoring list are Japan, South Korea, Germany, Italy, Singapore and Malaysia. Ireland has been removed from the Monitoring List, the US Department of Treasury said in its report Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States submitted to the Congress on Wednesday.
It also added Taiwan and Thailand to the list.