Vietnam welcomes exchange rate policy agreement with US

VOV.VN - Vietnam welcomes the outcomes of the online talks on July 19 between Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong and US Secretary of the Treasury Janet L. Yellen, and the deal reached the same day between the SBV and the US Department of Treasury on exchange rate policy.

Foreign Ministry spokesperson Le Thi Thu Hang made the statement on July 20 in reply to a reporter's question about the agreement reached between the SBV and the US Department of Treasury one day earlier.

The agreement reaffirms that Vietnam’s exchange rate policy is part of the general monetary policy framework, and consistent with the reality of the foreign currency market in the nation and its international commitments in this regard, with a view to ensuring macro-economic stability, not for creating an unfair competitive advantage in international trade, the spokesperson said.

She went on to say that this is the result of an effective dialogue and consultation process in the spirit of cooperation and mutual respect between both nations’ competent agencies. This result also opens up plenty of opportunities for closer collaboration between Vietnam and the US in financial and monetary affairs to promote post-pandemic economic growth, Hang added.

Vietnam will maintain constructive dialogue with the US side to deal with issues regarding economic, trade and investment relations between the two countries as a means of developing bilateral economic ties more stably and sustainably, for the mutual benefits of the two countries’ people and businesses, the official stated.