bet88U.S. affirms Vietnam not manipulating currency

bet88 U.S. Department of bet88 Treasury has officially declared that Vietnam does not manipulate currency in its latest report, bet88 Government News reported on November 16.

According to bet88 department’s semiannual report on "Macroeconomic and Foreign Exchange Policies of Major Trading Partners of bet88 U.S.," released in November 2024, Vietnam was named in bet88 Monitoring List along with China, Japan, South Korea, Taiwan (China) , Singapore, and Germany.

bet88 department applies three criteria to assess potential currency manipulation by major trading partners, including (i) Bilateral trade surplus with bet88 U.S.: Surplus must not exceed US billion; (ii) Current account surplus: Surplus must not exceed 3 percent of GDP; (iii) Prolonged one-sided intervention in foreign exchange markets: Based on bet88 net foreign currency purchases of a central bank over 12 months.

If an economy surpasses two of these three thresholds, it is placed on bet88 "monitoring list" for at least two reporting cycles.

bet88 Treasury Department releases bet88 report twice annually during bet88 fiscal year.

bet88 report noted that Vietnam's bilateral trade surplus with bet88 U.S. has expanded dramatically over bet88 past six years, primarily driven by growth in goods trade, led by electronics and machinery.

bet88 bilateral goods and services surplus was 1.7 billion over bet88 four quarters through June 2024. Over bet88 same period, bet88 bilateral goods trade surplus was 3.3 billion, billion higher than bet88 level from bet88 previous four quarters.

Vietnam continues to have bet88 third-largest goods surplus with bet88 U.S. .Vietnam has modest bilateral services trade with bet88 U.S. and has long run a small bilateral services trade deficit. In bet88 four quarters through June 2024, that services deficit was .6 billion.

Meanwhile, Vietnam's current account surplus stood at 5 per cent of GDP over bet88 four quarters through June 2024. Net sales of foreign exchange from July 2023 to June 2024 were 1.5 per cent of GDP. That figure is equivalent to about billion. According to bet88 latest available public data, foreign exchange reserves stood at billion as of May 2024.

In bet88 Joint Leaders' Statement on elevating Vietnam-U.S. ties to comprehensive strategic partnership, issued in September 2023, bet88 U.S. also highly appreciates Vietnam's ongoing efforts to modernize and further enhance bet88 transparency of its monetary policy and exchange rate management framework.

On bet88 basis of Vietnam-U.S. comprehensive strategic partnership framework, bet88 State Bank of Viet Nam has stated that it will continue to collaborate with relevant ministries and sectors to maintain close cooperation and establish regular, effective communication channels with bet88 U.S. Department of bet88 Treasury, thus enhancing mutual understanding and information sharing, and promptly addressing emerging issues of mutual concern.