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US Removes India from it’s Currency Monitoring List, China Stays

The department on Tuesday removed India and Switzerland from the previous currency watch list of countries

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US, India, Currency Monitoring List
The US Treasury Department has removed India from its currency monitoring list of major trading partners. Pixabay

The US Treasury Department has removed India from its currency monitoring list of major trading partners.

In its semi-annual report to US Congress on International Economic and Exchange Rate Policies, the department on Tuesday removed India and Switzerland from the previous currency watch list of countries with potentially questionable foreign exchange policies.

India, along with China, Japan, Germany, Switzerland and South Korea, was placed in the bi-annual currency watch list in October last year.

The US, however, continued to keep China on its watch list, while urging the Asian nation to take necessary steps to avoid a “persistently weak currency”.

US, India, Currency Monitoring List
China’s renminbi had fallen against the dollar by eight per cent over the last year. Pixabay

“Treasury continues to urge China to take the necessary steps to avoid a persistently weak currency,” said US Treasury Secretary Steven Mnuchin in a statement.

Mnuchin stated that China’s renminbi had fallen against the dollar by eight per cent over the last year. He also noted that China’s trade surplus with the US has also widened.

“China’s goods trade surplus with US stands at $419 billion over the four quarters through December 2018,” the report said.

Besides China, the currency watch list also included Japan, South Korea, Germany, Ireland, Italy, Malaysia, Vietnam and Singapore, according to the department’s latest report.

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“Treasury found that nine major trading partners continue to warrant placement on Treasury’s ‘Monitoring List’ of major trading partners that merit close attention to their currency practices,” Mnuchin said.

However, the department, in its report, has declined to designate China or any other major trading partner as a currency manipulator.

“No trading partner was found to have met the 1988 legislative standards during the current reporting period,” the report concluded. (IANS)

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Uber Launches Campaign for Women and Youth in India

New Uber initiatives to empower women, youth in India

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Uber India
A campaign by Uber will empower youth and women in India. Wikimedia Commons

In a bid to make daily commute safer for women in India, ride hailing giant Uber on Friday launched a new campaign for Uber Auto, which also aims to empower riders with seamless shared mobility solutions.

The company also launched an Uber Moto campaign for youth with convenient doorstep pickup to help them save time from arduous commute and use that time to up-skill themselves.

“At Uber, we’re committed to simplifying the lives of our riders by addressing their everyday challenges through multi-modal mobility solutions,” Manisha Lath Gupta-Marketing Director, Uber India and South Asia, told IANS.

“We believe that our youth have immense potential, however, lack of safe and reliable commuting options often limits their aspirations. In a small yet meaningful way, we are delighted to support the aspirations of millions of men and women to move forward,” Gupta added.

Uber India campaign
The Uber Auto campaign in India is titled as “Badey Iradon Ki Chhoti Sawaari,”. Pixabay

Targeted primarily at women commuters, the cab hailing giant’s Auto campaign, titled “Badey Iradon Ki Chhoti Sawaari,” aims to provide women safe, reliable yet affordable travel options, thus, enabling them to fulfil their aspirations.

Instead of being dependent on friends and family for picking and dropping them, or standing on roads waiting to find a reliable mode of transport, Uber Auto allows women to step out whenever they need to.

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The company’s Moto campaign, titled “Sapno Par Hoja Sawaar” aims to inspire the young working professionals whose aspirations get dampened because they spend long hours commuting and have to change multiple modes of transport to find the most economical option.

Both the campaigns would be seen across digital, print and out-of-home advertising (OOH) platforms, said Uber. (IANS)