The US has removed India and Switzerland from its currency monitoring watchlist. This watchlist is maintained by the US treasury department to look out for any manipulation of currencies for gaining a trade advantage over the US. When a country’s currency becomes cheap, it exports become cheaper and vice versa.
India was added to this list in October along China, Japan, Germany, Switzerland and South Korea.
Although India and Switzerland an only one the three criteria as listed in the 40page report. This is a positive development for India since it’s out of the currency radar and will not be considered as a currency manipulator
Amongst riding trade tensions, (Read https://owlett.in/2019/05/11/the-trade-war/ and https://owlett.in/2019/05/14/us-china-trade-war-heats-up/ to understand the trade tensions) Uthe S has retained China in the list though it has not labelled it as currency manipulator.
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