US removes India from currency monitoring list

New Delhi, Nov 11 (IANS): The US Treasury Department has removed India from its currency monitoring list.

The development came on a day when US Treasury Secretary Janet Yellen was in India.Apart from India, countries like Italy, Mexico, Thailand and Vietnam have also been removed from the currency monitoring list.

The information was provided in the Treasury Department's bi-annual report to the Congress.

The biannual report also said that the countries that have been removed from the currency monitoring list have met only one out of three criteria for two consecutive reports.

"China's failure to publish foreign exchange intervention and broader lack of transparency around key features of its exchange rate mechanism makes it an outlier among major economies and warrants Treasury's close monitoring," said the report.

China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the countries which are part of the current currency monitoring list.


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