India Officially Removed From US Treasury's Currency Monitoring List -Elvowire

India Officially Removed From US Treasury’s Currency Monitoring List- The US Department of Treasury on Friday removed India from its Currency Monitoring List, after determining that the country’s economic reforms and monetary policy measures have resulted in a more stable exchange rate.

India had been placed on the list in 2018 due to concerns about its currency manipulation practices. However, following a series of reforms, including the introduction of a new monetary policy framework and a more flexible exchange rate regime, the Treasury has determined that India no longer meets the criteria for currency manipulation.

The removal of India from the Currency Monitoring List is a positive development and reflects the country’s commitment to pursuing sound macroeconomic policies.

This decision was based on a number of factors, including India’s recent efforts to strengthen its currency regime and maintain macroeconomic stability. The Treasury Department noted that China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are still being monitored for possible currency manipulation.

The Treasury Department’s biannual report to Congress is required by law and assesses the foreign exchange policies of major US trading partners. Removal from the monitoring list does not mean that a country is in compliance with all US laws and regulations related to currency matters.