# Joint Statement from the U.S. Department of the Treasury and the State Bank of Vietnam | U.S. Department of the Treasury

> The U.S. Treasury and the State Bank of Vietnam issued a joint statement after a virtual meeting between Secretary Yellen and Governor Hong. Vietnam committed to avoid competitive devaluation of the dong and to make its monetary and exchange rate framework more transparent, resolving Treasury's currency concerns.

- Date: 2021-07-19 · published 2021-07-19T12:00:00.000Z
- Category: policy · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/46365-joint-statement-from-the-u-s-department-of-the-treasury-and-the-state-bank-of
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

A commitment against dong devaluation reduces the risk of a weaker dong making Vietnamese exports cheaper, which supports stability in Vietnam's feed-related import and export costs. The effect on grain and feed prices is minor.

## Read by commodity

- USDVND: neutral

## Sources

- home.treasury.gov: https://home.treasury.gov/news/press-releases/jy0280

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.