India no more under US’s watch-list of currency practices
In its semi-annual foreign-exchange report, it came to light that the US government has removed India from its currency monitoring watchlist. The US Treasury Department didn’t include India’s name in potentially questionable foreign exchange policies.
Last year, in the October, India along with China, Japan, Germany, Switzerland and South Korea, was placed in the bi-annual currency watch list.
While the China’s name continued to be on its watchlist, India has been removed.
“Treasury continues to urge China to take the necessary steps to avoid a persistently weak currency,” said US Treasury Secretary Steven Mnuchin in a statement.