State Bank of Vietnam holds U.S. Treasury talks and says recent reports continue to find Vietnam is not manipulating currency

The State Bank of Vietnam published an account of a meeting between Governor Pham Duc An and Robert Kaproth, Deputy Assistant Secretary at the U.S. Treasury, centered on macroeconomic conditions, monetary policy and foreign exchange management. The main message from the State Bank of Vietnam was that it is using its policy tools in a proactive, flexible and prudent way to support macroeconomic stability, control inflation and safeguard the banking system, while maintaining that Vietnam's exchange rate policy is not aimed at creating an unfair trade advantage. Set against Vietnam's 2026 objective of sustaining strong growth while preserving macroeconomic stability, the State Bank of Vietnam said monetary policy is being coordinated closely with fiscal and other macroeconomic policies. It said it has acted across its policy toolkit to keep money and foreign exchange markets stable despite international economic and geopolitical pressures. Kaproth said the U.S. Treasury had maintained regular dialogue with the State Bank of Vietnam and valued timely and transparent information sharing. The governor also noted that recent U.S. Treasury reports continue to assess Vietnam as not manipulating currency and said the bilateral Joint Statement on Currency provides an important basis for further economic, financial and monetary cooperation. Both sides indicated that regular dialogue, information exchange and consultation would continue to support mutual understanding and policymaking on monetary and broader economic issues.