The U.S. Treasury report said that Vietnam exceeded its trade surplus, current account and foreign exchange intervention thresholds, but was satisfied with progress made by Vietnam to date on addressing exchange-rate issues.
Pham Thanh Ha, deputy governor of the central bank, said the bank had taken the issues seriously and its monetary policy towards them had been implemented effectively, as he spoke at an economic forum.
We need to pay more attention to our monetary policy implementation because it does not have an impact on our domestic economy but our big trade partners as well, Ha said.
Vietnam will continue to implement monetary policy in a cautious and flexible manner. Ha said the central bought about $25 billion worth of dollars over the past two years to help inject dong into the banking system and boost the economy.
If necessary, the bank would have to implement measures that would affect market interest rates and liquidity, he said.