The treasury department of the United States of America has removed India’s name from the Currency Monitoring List. The US treasury department has also announced along with India, it has also removed Mexico, Thailand, Italy, and Vietnam from the list. With the latest changes, the seven countries that are on the list are Japan, China, Korea, Singapore, Germany, Malaysia, and Taiwan.
The Currency Monitoring List means it follows US’ major trade partners’ policies. If a nation is on the list means they are regarded as a currency manipulator which in turn means according to the United States that they engage in unfair currency practices for trade benefits.
India has been on the list for the past 2 years and now has been removed. Secretary of the Treasury Janet Yellen stated on this occasion that these challenges are bringing India and the US closer than before.
