{"id":7844,"date":"2022-11-13T02:24:21","date_gmt":"2022-11-12T20:54:21","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=7844"},"modified":"2025-03-28T23:19:38","modified_gmt":"2025-03-28T17:49:38","slug":"currency-monitoring-list","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/currency-monitoring-list\/","title":{"rendered":"Currency Monitoring List"},"content":{"rendered":"<h2><strong>About Currency Monitoring List:<\/strong><\/h2>\n<ul>\n<li><strong>India had been on the list for the last two years.<\/strong><\/li>\n<li>China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the seven economies that are a part of the current monitoring list.<\/li>\n<li>The countries that have been removed from the list have met only one out of three criteria for two consecutive reports.<\/li>\n<\/ul>\n<h3><strong>Currency Manipulation:<\/strong><\/h3>\n<ul>\n<li>The\u00a0<strong>Trade Facilitation and Trade Enforcement Act of 2015<\/strong>\u00a0of US requires its Treasury Department to report to the Congress in every six months if any country is manipulating its currencies to gain trade advantages over the US.<\/li>\n<li>One of the ways of manipulation involves any country artificially weakening its currency by selling it in exchange for a foreign currency, usually the US dollar.<\/li>\n<li>This artificial weakening of currency makes its own exports cheaper, thereby gaining an unfair trade advantage over another country\u2019s exports.<\/li>\n<\/ul>\n<h3><strong>Criteria:<\/strong><\/h3>\n<ul>\n<li>There are three criteria the US Treasury looks at in placing a country on the watch list:\n<ul>\n<li><strong>Significant trade surplus with the US<\/strong>\u00a0(at least $20 billion in 12 months)<\/li>\n<li><strong>A large current account surplus<\/strong>\u00a0(at least 2 per cent of GDP over a 12-month period)<\/li>\n<li><strong>\u201cPersistent&#8221;, one-sided intervention<\/strong>\u00a0(when net purchases of foreign currency totalling at least 2 per cent of the country\u2019s GDP over a 12-month period are conducted repeatedly, in at least six out of 12 months).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>The countries that meet two out of the three criteria are placed on the watch list.<\/p>\n<hr \/>\n<p><strong>Source :\u00a0<\/strong><a href=\"https:\/\/indianexpress.com\/article\/india\/us-treasury-removes-india-from-currency-monitoring-list-8263647\/#:~:text=The%20US%20Department%20of%20Treasury,for%20the%20last%20two%20years.\" target=\"_blank\" rel=\"nofollow noopener\">Indian Express<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Currency Monitoring List is,if a country devalues its currency for unfair competitive advantage.<\/p>\n","protected":false},"author":5,"featured_media":7845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-7844","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=7844"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/7845"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=7844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=7844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=7844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}