US Treasury Department puts India on its watch list
US treasury department
Citing an increase in India's foreign exchange in the first three quarters of 2017, the United States Treasury Department has added India to the currency practices and macroeconomic policies monitoring list
Citing an increase in India's foreign exchange in the first three quarters of 2017, the United States Treasury Department has added India to the currency practices and macroeconomic policies monitoring list.
The US Treasury Department has asked the countries on the watch list implement the economic reforms to manage their respective surpluses.
India has a $23 billion trade surplus with the United States, a media report said.
China has been included in the list because as per the reports it constitutes $337 billion trade deficit with China.
Germany which is part of the European currency and does not have an independent control over its value has also been included in the list.
China, Germany, Japan, Korea and Switzerland are the five countries that continue on the list from October and are named in the semi-annual report to the US Congress.
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Countries remain on the list for two report cycles to ensure that if there are any improvements in the performance of the country it should not be due to temporary reasons.