US removes India from its Currency Monitoring List

HY News 12 November, 2022 01:11 pm IST

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The United States’ Department of Treasury has removed India from its Currency Monitoring List, hours after Treasury Secretary Janet Yellen addressed US-India Businesses and investment Opportunities event in New Delhi on Friday. India had been on the list for the last two years.

Along with India, the United States also removed Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List. India and four other countries were removed from the Monitoring List as they now only met one of the three criteria for two consecutive reports.

According to the Department of Treasury's biannual report to Congress, the seven economies that form the current Currency Monitoring List are China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan.

According to the biannual report, the countries that were removed from the Currency Monitoring List for two consecutive reports only satisfied one of the three requirements.

The US Department of Treasury delivered its semiannual Report to Congress on ‘Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States’. The report reviews the policies of the US’ trading partners during the last four quarters ending in June 2022.

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