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Economy
Pradeep Kumar

17/04/21 11:00 AM IST

Currency watch list

In news

India is one of the 11 countries on the U.S. Treasury’s ‘Monitoring List’ with regard to their currency practices, according to the April 2021 edition of the semi-annual report, the first from the Biden administration.

Highlights
  • India was on the list in the December 2020 report as well.
  • The report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, which is submitted to the U.S. Congress, reviews currency practices of the U.S.’s 20 biggest trading partners.
  • The other 10 countries on the list with India are China, Japan, Korea, Germany, Ireland, Italy, Malaysia, Singapore, Thailand, and Mexico.
  • All of these, except Ireland and Mexico, were on the December 2020 list.
Three criteria are used to review partners
  • A significant (at least $20 billion) bilateral trade surplus
  • Amaterial current account surplus
  • Persistent one-sided intervention’ in forex markets
Source: The Hindu

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