INDIA IN THE US ‘CURRENCY MANIPULATOR’ LIST

The U.S. Government has again included India in its monitoring list of countries with potentially “questionable foreign exchange policies” and “currency manipulation”. Besides India, some of the countries in this list are; Taiwan, Thailand , China, Japan, Korea, Germany, Italy, Singapore, Malaysia.

• Criteria: This currency manipulator is a label given by the US government to countries it feels are engaging in “unfair currency practices” by deliberately devaluing their currency against the dollar.

• Those country fulfilling two of the three criteria in the Trade Facilitation and Trade Enforcement Act of 2015 is placed on the Monitoring List. These criteria are:
  1. Significant bilateral trade surplus with the US,
  2. Current account surplus and
  3. Net purchases of foreign currency totalling at least 2 percent of the country’s GDP over a 12 month period.

(Indian Express)