US removes India from its currency monitoring list; China stays

US removes India from its currency monitoring list; China stays
US removes India from its currency monitoring list; China stays

The Trump administration on Tuesday removed Indiafrom its currencymonitoring list of major trading partners, citing certain developments and steps being taken by New Delhi which address some of its major concerns.

In its semi-annual report to US Congress on International Economic and Exchange Rate Policies, the department on Tuesday removed India and Switzerland from the previous currency watch list of countries with potentially questionable foreign exchange policies.

India, along with China, Japan, Germany, Switzerland and South Korea, was placed in the bi-annual currency watch list in October last year.

The US, however, continued to keep China on its watch list, while urging the Asian nation to take necessary steps to avoid a “persistently weak currency”.