SBV continues exchange rate flexibility to ease US currency concerns
The State Bank of Vietnam (SBV) pledges to continue fostering exchange rate flexibility while maintaining macroeconomic and financial market stability, so as to ease concerns from the US Department of Treasury about the country’s currency practices.
State Bank of Vietnam's headquarters. (Photo: VNA)
Hanoi (VNA) – The State Bank of Vietnam (SBV) pledgesto continue fostering exchange rate flexibility while maintaining macroeconomicand financial market stability, so as to ease concerns from the US Departmentof Treasury about the country’s currency practices.
Together with its ongoing efforts to modernise monetarypolicy and exchange rate framework, the SBV is committed to further flexiblymanaging exchange rates in line with the state of development of theforeign-exchange market and economic factors to ensure the proper functioningof the market, thus promoting macroeconomic stability, according to the Vietnamesecentral bank.
It held that Vietnam’s exchange rate policy, withinits general monetary policy framework, aims to stabilise the macro-economy andcontrol inflation, not to create an unfair competitive advantage ininternational trade.
Vietnam had been under pressure from the US over itscurrency practices after the Trump administration, in December last year, declared Vietnam a currency manipulator.
In April, the US Department of Treasury removed the labelof currency manipulator for Vietnam, saying it found insufficient evidence thatVietnam was manipulating its currency. The department and the SBV have maintained regular discussions at both high and technical levels on monetary policy, exchange rate andVietnam’s forex market situation in the spirit of goodwill, cooperation andmutual respect.
The SBV’s statement was made following the virtualmeeting between SBV Governor Nguyen Thi Hong and US Secretary of the TreasuryJanet L. Yellen on July 19, during which they highly spoke ofconstructive coordination between the two sides.
They vowed to maintaജin close cooperation and goodwill toaddress shared challenges, such as supporting a strong and inclusive recoveryfrom the COVID-19 pandemic./.
The US Treasury has removed Vietnam and Switzerland from the list of countries labeled as currency manipulators, reversing a decision of the administration under President Trump last December.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has asked the Vietnam Banks Association (VNBA) to campaign lenders to slash interest rates immediately this month.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
State Bank of Vietnam's headquarters. (Photo: VNA)
