India removed from the currency monitoring list..!?

Sowmiya Sriram
India removed from the currency monitoring list..!?

In a notification issued by the US Treasury Department on friday, it said that india has been removed from the currency monitoring list of major trading partners whose monetary practices and macroeconomic policies are subject to close scrutiny. The indian rupee was included in this list for the last two years. This announcement was made on the day that US Treasury Secretary Janet Yellen went to delhi to hold talks with Union Finance minister Nirmala Sitharaman. Currently, seven economies are on the currency monitoring list namely china, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan. The US Treasury Department said in a 2-year report sent to the country's parliament.
Countries currently delisted have met only one of the three criteria in two consecutive reports. US Treasury Secretary Janet Yellen's first visit to india was highly anticipated from the start. US Treasury Secretary Janet Yellen's visit to india, which focuses on strengthening India-US economic ties, met the country's key business leaders on friday at the microsoft india Development Center in Noida. US Treasury Secretary Janet Yellen offered a new vision for international trade, calling for "like-minded countries" to work together to reduce the world's dependence on "dangerous countries" such as China.
While china has refused to publish its foreign exchange data, the US Treasury has announced that it has continued to keep the Chinese currency on its currency monitoring list due to its lack of transparency. switzerland has again been declared a currency Manipulator due to its violation of three criteria. But the report said it did not have enough data to analyze the swiss currency.
While the united states insists that every country should be transparent in its currency exchange and foreign exchange measurement but china is refusing.
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