US removes India from currency watch list
India has been deleted from a list of trading partners that the US keeps track of in terms of macroeconomics and foreign exchange. The change occurred when US Treasury Secretary Janet Yellen was in India. India, Italy, Mexico, Thailand, and vietnam have been taken off the "Monitoring List," according to a report the US Treasury Department submitted to congress on Thursday, since they failed to meet all three requirements for designation in two consecutive reports. China, Japan, South Korea, Germany, Malaysia, Singapore, and taiwan were the nations that remained on the list.
"Before Russia's illegal war against Ukraine, the world economy was already coping with supply and demand imbalances brought on by Covid-19, which have driven up the prices of food, fertiliser, and energy, further driving up global inflation and escalating food hunger. Major economies are likely to pursue diverse strategies in response to various challenges, which can be seen in currency movements. Treasury is aware that various responses to the global economic headwinds by developing and emerging nations may be necessary in some situations, "In a statement marking the report's release, Treasury Secretary Yellen made the following statement recently.
"Before Russia's illegal war against Ukraine, the world economy was already coping with supply and demand imbalances brought on by Covid-19, which have driven up the prices of food, fertiliser, and energy, further driving up global inflation and escalating food hunger. Major economies are likely to pursue diverse strategies in response to various challenges, which can be seen in currency movements. Treasury is aware that various responses to the global economic headwinds by developing and emerging nations may be necessary in some situations, "In a statement marking the report's release, Treasury Secretary Yellen made the following statement recently.