WASHINGTON:
India is out of currency monitoring list of major trading partners, says the US Treasury Department. China is still on the watch list as Asian nations are desisting from taking necessary steps to avoid a “persistently weak currency”. Switzerland also finds its way out of the currency watch list for following questionable foreign exchange policies.
Last year in October, the bi-annual currency watch list included India, along with China, Japan, Germany, Switzerland and South Korea for having “persistently weak currency”.
US Treasury Secretary Steven Mnuchin states, ‘Treasury found that nine major trading partners continue to warrant placement on Treasury’s ‘Monitoring List’ of major trading partners that merit close attention to their currency practices.’ (Agencies)
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