Pay attention to what is taking place. The retirees received their back wages to 2019, the citizens received their pays on their cards, and recently, Baghdad sent Kurdistan 180 billion dinar, holding back 20 billion for a fee, in order to pay their people their wages. All the purpose of getting the money in their hand before they turn on the new rate digitally.
And now, they changed the Eid holiday from May, end of Ramadan, to this week starting tomorrow till Thursday. The holiday of giving. Lastly, the merchants had adjusted the prices on their products and services in line with the increase,, RET TO GO!
WSJ: Vietnam Tells U.S. It Won’t Weaken Currency to Boost Exports (7/19/21)
WASHINGTON—Vietnam has pledged to refrain from weakening its currency to give its exporters an unfair advantage as it seeks to ease tensions over a widening trade surplus with the U.S.
The Trump administration last year labeled Vietnam a currency manipulator and threatened to impose sweeping tariffs on imports from Vietnam. The Biden administration reversed the “manipulator” designation in April, saying it found insufficient evidence that the country was manipulating its currency, but hasn’t yet completed the process that could lead to the imposition of tariffs.
U.S. policy makers and the business community have increased their focus on Vietnam as the country has risen, in just the past decade, from a minor trading partner to the No. 6 source of U.S. imports, trailing only China, Mexico, Canada, Japan and Germany.
Vietnam has become a major source of furniture, seafood, computers, electronics, apparel and footwear for the U.S.
In a joint statement Monday, Treasury Secretary Janet Yellen and Vietnam State Bank Governor Nguyen Thi Hong said Vietnam’s central bank reiterated that the focus of its monetary policy framework is to promote macroeconomic stability and control inflation.
Vietnam’s central bank has agreed to allow the Vietnamese dong to move “in line with the state of development of the financial and foreign-exchange markets and with economic fundamentals,” according to the statement. Vietnam pledged not to lower its exchange rate to give its exporters a competitive advantage.
It will also continue to provide necessary information for the Treasury to conduct thorough analysis and reporting on its activities in the foreign-exchange market, as part of Treasury’s regular currency report to Congress.
“I believe the State Bank of Vietnam’s attention to these issues over time not only will address Treasury’s concerns, but also will support the further development of Vietnam’s financial markets and enhance its macroeconomic and financial resilience,” Ms. Yellen said in the statement.
Source: Dinar Recaps
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