Us removes India from currency watchlist |
The United States Treasury Department has removed India from its currency monitoring list of major trading partners while continuing to keep China in the list. India and Switzerland are the two countries that have been removed from the US currency watch list of countries with potentially questionable foreign exchange policies. India, along with China, Japan, Germany, Switzerland and South Korea, was placed in the currency watch list in October last year. This move means that the US now will not put any restrictions on India`s exports because of the alleged currency manipulator tag. The Trump administration last week said that it planned to penalise countries that undervalue their currencies. According to the US Treasury report, published twice a year in May and October, India had a significant trade surplus while Switzerland had a material current account surplus. In both Switzerland and India, there was a notable decline in 2018 in the scale and frequency of foreign exchange purchases.
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