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Monday, April 19, 2021, 15:01 GMT+7
The State Bank of Vietnam says it will continue to pursue a flexible exchange rate policy that does not create any unfair trade advantage. Photo: Quang Dinh / Tuoi Tre
Hanoi welcomes Washington s decision to remove Vietnam from the list of currency manipulators and will maintain dialogue and consultancy with the U.S. over this issue, Le Thi Thu Hang, the Vietnamese Ministry of Foreign Affairs’ spokesperson said on Saturday.
Hang s statement followed the U.S. Treasury Department s move to stop branding Vietnam as a currency manipulator on Friday.
The department on April 16 delivered to the U.S. Congress its semiannual report entitled Macroeconomic and Foreign Exchange Policy of Major Trading Partners of the U.S., April 2021, in which Vietnam and Switzerland had been removed from the list of currency manipulation countries.
Inflation report on deck
THIS week’s economic calendar includes key readings on the consumer price index (CPI), leading economic index and foreign reserves.
The Statistics Department is announcing inflation data for March 2021 on Friday while Bank Negara is expected to announce international reserves as at April 15 on Thursday.
Economists expect inflation to grow faster in March but do not see inflation becoming a threat anytime soon.
According to Bloomberg estimates, inflation in March is expected to grow 1.6% year-on-year from 0.1% in February.
The CPI increased 0.1% in February 2021 to 122.5 as against 122.4 in the same month of the preceding year.
For the period January to February, the CPI decreased 0.1% as compared to the same period last year.
No major trading partner manipulates currency: US Treasury
By IANS |
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US blacklists individuals, entities over Hezbollah links. Image Source: IANS News
Washington, April 17 : The US Treasury Department said that no major trading partner of Washington meets the criteria as a currency manipulator, but Vietnam, Switzerland and Taiwan will be under enhanced monitoring for their currency practices.
In its semi-annual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US, the Department on Friday concluded that Vietnam, Switzerland and Taiwan met all three criteria for enhanced currency analysis under the Trade Facilitation and Trade Enforcement Act of 2015 during the four quarters through December 2020, reports Xinhua news agency.