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Which Country Department of Treasury on 12th Nov 2022 removes India from its Currency Monitoring List?
A)
Russia
B)
United States
C)
China
D)
United Kingdom

Correct Answer : Option (B) - United States


The US Department of Treasury on Friday(12th Nov 2022) removed India along with Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List of major trading partners that merit close attention to their currency practices and macroeconomic policies.
 
India had been on the list for the last two years.
 
The move came on a day when Secretary of the Treasury "Janet Yellen" visited New Delhi and held talks with Finance Minister Nirmala Sitharaman.
 
China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the seven economies that are a part of the current monitoring list, the Department of Treasury said in its biannual report to the Congress.
 
The countries that have been removed from the list have met only one out of three criteria for two consecutive reports, it said.
 
“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.
 
Notably, Switzerland once again exceeded the thresholds for all three criteria, which is a parameter for being labelled as a “Currency Manipulator”.
 
But the term was not used by the Report and the Treasury Department maintained that there is not enough evidence to use the label for Switzerland...

Source : Indian Express

Published On : November 13, 2022
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