US removes India from its Currency Monitoring List

New Delhi: The United States's treasury department has removed India as well as Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List, PTI reported.

The US Department of Treasury said in its biannual report to the Congress that China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the seven economies that are a part of the current monitoring list.

It said that those who got removed from the list had met only one out of three criteria for two consecutive reports.

The report said, "China's failure to publish foreign exchange intervention and broader lack of transparency around key features of its exchange rate mechanism makes it an outlier among major economies and warrants Treasury's close monitoring."