Why US May Remove India From Currency Monitoring List

"Exemplary", Says US On RBI Declaring Forex Market Intervention: 10 Points

The US said that if India continued with the same practices as in the last six months, it would be removed from its next currency monitoring list.

Currencies And Forex | | Updated: October 19, 2018 13:20 IST
'Exemplary', Says US On RBI Declaring Forex Market Intervention: 10 Points

INR Vs USD: As of June 2018, foreign currency reserves stood at $380 billion, the report said.

The US has recently said that it may remove India from its currency monitoring list of trading partners. Praising the central bank as "exemplary" for declaring its forex market intervention, the US said that India has addressed some of its concerns. US' currency monitoring list keeps a close watch on Washington's trading partners with potentially questionable foreign exchange policies. For the first time, India was placed in the currency monitoring list in April, reported news agency Press Trust of India (PTI). The semi-annual report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners was made by the US Treasury department.