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Vietnam Reiterates It Does Not Use Currency for Unfair Trade

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Vietnam’s central bank, refuting the U.S. Treasury’s move to designate the Southeast Asian nation a currency manipulator, said it does not use its exchange rates “to create an unfair competitive advantage in international trade,” the regulator said in a statement on its website.

Vietnam’s “exchange rate management in recent years is within its general framework of monetary policy and aims to achieve the consistent goal of controlling inflation, stabilizing macro-economy” and does not create an unfair competitive advantage for the nation, the State Bank of Vietnam said.