America removed India from the currency watch list, a shock to China! Name still included in the list
China has still not been removed from this list. Apart from neighboring countries, this list currently includes Japan, Korea, Germany, Malaysia, Singapore, and Taiwan. The US Treasury Department gave its report in this regard on Friday.
Highlights
⏩ On Friday, the US Treasury Secretary met Nirmala Sitharaman in Delhi.
⏩ He said that India and America have come closer than ever in today’s environment.
⏩ India, Italy, Mexico, and Thailand have also been removed from this list.
New Delhi. The US Treasury Department has removed India from its currency monitoring list. India, Italy, Mexico, Thailand, and Vietnam have also been removed from this list. The Treasury Department has mentioned this in the half-yearly report submitted to the US Congress. Let us tell you that if the American has doubts about the foreign exchange policy of a country, then he puts it on the watch list.
Significantly, China has not been removed from this list yet. Apart from neighboring countries, this list includes Japan, Korea, Germany, Malaysia, Singapore, and Taiwan. This decision of America has come at a time when US Treasury Secretary Janet Yellen is on a visit to New Delhi. He had met and held talks with Finance Minister Nirmala Sitharaman in Delhi on Friday.
What is Currency Watch List?
America prepares this list to monitor the currency of its major partners. Under this, the US monitors the currency activities and economic policies of its major trade partners. The American puts those countries in this list whose foreign exchange rates he suspects. India has been on the currency monitoring list of America for the last two years. The US has said that China needs to be placed on the list because of its failure to publish foreign exchange rates and a widespread lack of transparency regarding exchange rates.
Increased confidence in India
India’s coming out of this list shows that America’s trust in our country has increased. This has also been mentioned by American Treasury Secretary Janet Yellen. During the meeting on Friday, he referred to a statement by US President Joe Biden in which he said that India is an essential partner of America. Yellen said that this statement is absolutely correct in the current situation. According to Yellen, the recent challenges have brought India and America closer than ever. However, the Treasury Department report also mentions that countries that have been removed from the list have also met only one of the 3 criteria for removal from the watch list.
