# Central Bank steps up efforts to address US tag of currency manipulation

> The State Bank of Vietnam stopped listing spot bid rates on USD/VND and stopped buying dollars in the spot market from December 31, 2020. From January 4, 2021 it extended its USD forward contract term to six months at VND23,125 per dollar. Analysts say this is a first step toward removing the US currency manipulation designation.

- Date: 2021-01-15 · published 2021-01-15T12:00:00.000Z
- Category: macro · region Vietnam · magnitude medium
- Page: https://feedsoft.ai/events/49453-central-bank-steps-up-efforts-to-address-us-tag-of-currency-manipulation
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

Reducing one-way intervention could let the dong firm against the dollar, which would lower USD/VND. A stronger dong would make Vietnamese feed and grain imports cheaper in dollar terms but could weigh on Vietnamese export competitiveness.

## Read by commodity

- USDVND: bearish ▼

## Sources

- hanoitimes.vn: https://hanoitimes.vn/vietnam-cbank-steps-up-efforts-to-address-us-tag-of-currency-manipulation.581871.html

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