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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)

Next Story

Samsung India Unveils New Smartphone “Galaxy A51” For Rs 23,999

The Galaxy A51 also comes with a long-lasting battery that lasts for up to 19 hours of video play back time

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Samsung
According to the company Samsung, the Galaxy A51 is the first-ever in Galaxy A series to sport an Infinity-O display. Pixabay

Samsung India on Wednesday launched the Galaxy A51 (6GB+128GB) in the country for Rs 23,999. The smartphone comes with the company’s signature Infinity-O Super AMOLED display.

Galaxy A51 will be available in Blue, White and Black Prism Crush colours, starting January 31 across retail stores.

“The success of Galaxy A embodies our philosophy of bringing meaningful innovation to all our consumers. Galaxy A51 takes this legacy to the next level with its camera, screen and long lasting battery — features that will excite our young consumers,” Aditya Babbar, Director, Mobile Business, Samsung India, said in a statement.

According to the company, the Galaxy A51 is the first-ever in Galaxy A series to sport an Infinity-O display.

The device features an advanced 48MP main camera, 12MP Ultra Wide lens with “Night Mode” capability and a 5MP Macro lens that allows users to take close up shots and a 5MP depth camera for clicking shots in “Live Focus” mode.

The Galaxy A51 is powered by a 10nm Exynos 9611 chipset that comes with AI powered Game Booster for improved frame rate and stability as well as reduced power consumption.

Samsung
Samsung India on Wednesday launched the Galaxy A51 (6GB+128GB) in the country for Rs 23,999. The smartphone comes with the company’s signature Infinity-O Super AMOLED display. Wikimedia Commons

The Galaxy A51 also comes with a long-lasting battery that lasts for up to 19 hours of video play back time, according to the company, thanks to the 4000mAh battery with 15W fast charging.

This feature makes SMS come ‘Alive’ by identifying messages that are most useful to the user and organizing them neatly in the form of visual cards such as Reminders and Offers. The Useful Cards feature helps reduce clutter in the SMS Inbox and lets consumers find useful information quickly and easily.

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The company will launch the 8GB/128GB variant later. (IANS)