Vietnam Economy Central bank not pursuing unhealthy competitive advantage in trade By Thanh Thom Thursday, May 30, 2019,20:48 (GMT+7) Central bank not pursuing unhealthy competitive advantage in tradeBy Thanh Thom The façade of the State Bank of Vietnam’s headquarters in Hanoi. The central bank is pursuing a flexible foreign exchange rate in line with domestic and international market conditions – PHOTO: SBV HCMC – The State Bank of Vietnam (SBV) said in a statement today, May 30, that it is not pursuing an unhealthy competitive advantage in international trade after the U.S. Treasury Department raised concerns over the Vietnam’s currency practices this week. The U.S. department stated in a semiannual report on the macroeconomic and foreign exchange policies of the country’s major trading partners that it had reviewed and assessed the policies of an expanded set of 21 major U.S. trading partners and found that nine partners, including Vietnam, deserved scrutiny over their currency practices. In response to the report, the SBV pledged it would further coordinate with the relevant ministries and agencies to discuss and address the issues raised by the U.S. Treasury. The central bank will continue regulating its monetary policy to curb inflation, stabilize the macroeconomy and support economic growth in… Read full this story
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