The U.S. Department of the Treasury and the State Bank of Viet Nam have reaffirmed their commitment to transparent exchange rate policies and continued close consultations within the Viet Nam – U.S. Macroeconomic Financial Policy Dialogue. This joint statement emphasizes their shared understanding to avoid manipulating exchange rates for competitive advantage, aligning with the IMF Articles of Agreement.
Both parties agreed that macroprudential or capital flow measures, as well as government investment vehicles like pension funds, should not target exchange rates for competitive purposes. They also acknowledged that foreign exchange market intervention is a suitable tool to address volatile movements and maintain macroeconomic stability as financial markets develop.
To enhance transparency, the State Bank of Viet Nam committed to publicly disclosing data on net positive foreign exchange purchases annually, with a three-month lag, starting in 2027. Additionally, it will begin public disclosure of foreign exchange reserves data and forward positions in alignment with the IMF’s Data Template on International Reserves and Foreign Currency Liquidity, also commencing in 2027.