CURRENT AFFAIRS

Detailed explanation-1: -The United States (US) Department of Treasury announced on Friday, 11 November, that it was removing India from its ‘Currency Monitoring List,’ along with a few other countries.

Detailed explanation-2: -India was taken off the monitoring list after nearly two years, since it only satisfied one of the criteria for two consecutive reports.

Detailed explanation-3: -Countries/economies on the list: China, Japan, South Korea, Germany, Malaysia, Singapore and Taiwan are currently on the list of currency monitoring list.

Detailed explanation-4: -The US on Friday removed India along with four other countries from its Currency Monitoring List. The US Department of Treasury, in its biannual report to the Congress, said that India, Italy, Mexico, Thailand and Vietnam have been removed from the list.

Detailed explanation-5: -What is the Currency Manipulation Watchlist? The Currency Manipulation Watchlist consists of those countries that the United States Department of the Treasury believe is engaging in ‘unfair currency practices’ that give them an advantage in trade.